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Readers weigh in on inequality in financial services, opine on falling bank reputations, chime in on the evolving role of the chief risk officer and more.
On a federal judge ruling in late June that the Consumer Financial Protection Bureau's structure is unconstitutional:
“It’s worth remembering why the CFPB was set up in the way it was: To create impediments to regulatory capture that undermined regulatory effectiveness and allowed the predatory behavior culminating in the disasters of 2008. Considering the attempts to undermine CFPB's effectiveness under the current administration, those concerns are obviously well founded.”

Related: Another judge says CFPB structure is unconstitutional
In response to a report that bank reputations have taken a hit:
"Please ask victims of the 18+ million foreclosures since 2008. Banks paid BILLIONS in fines for behavior that is ongoing. I can put you in touch with hundreds. Stop the casinos called banks. Bring confidence back. Bring back Glass Steagall."

Related: Bank reputations fall for first time in five years: 2018 survey
Joseph Otting, comptroller of the U.S. currency
On calls for Comptroller of the Currency Joseph Otting to do something about discrimination in lending:
“The author writes, ‘Given more than half a dozen opportunities to clarify his statement, Otting repeatedly refused to directly acknowledge the existence of discrimination. Apparently to him, it’s just hearsay.’ Why should Mr. Otting be required to directly acknowledge something he has not experienced? I have 40+ years of banking with $100 million to $100 trillion institutions and have never personally experienced it, either. Fair Lending/CRA exams indicate it is very rare.”

Related: Otting should strengthen, not weaken, CRA
On a plan to create new banks that help more people access financial services:
“The banking system has become far more concentrated with a handful of very large institutions controlling close to three quarters of the market. While this systems offers many benefits, it necessitates reliance on computer scoring models for granting consumer credit. More than half of Americans either have no score or are considered subprime and are cut off from bank credit. Your suggestion deserves very serious consideration.”

Related: How to build a more equal bank
A response to the argument that too many Americans are still unbanked or underbanked:
“There have been many institutions who have tried to bank these folks only to go bankrupt. The vast majority of un/underbanked are that way for a reason.”

Related: How to build a more equal bank
On the growing demands of chief risk officers:
“It is impossible for the CRO to be even reasonably informed about the many different areas of risk in a bank. The head of each department should be the CRO for that function and report to the Executive Committee on key areas of risk. Internal Audit should be auditing for risk in each functional area. The CRO position was created by the regulators---an impossible job.”

Related: Banks seek new blood to fill evolving CRO role
A hacker
On a data aggregator not getting access to some of Capital One’s customer data:
“Yes, a fix is needed, but CapOne wouldn't be doing any customer a favor if access trumps security. Just too many criminal hackers” (via Twitter).

Related: Fintechs’ vulnerability apparent in Capital One data-access flap