'The Banking System's Death Is Inevitable': Comments of the Week
February 28, 2014 8:54 AM
American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the Comments sections of AmericanBanker.com articles.
Image: Thinkstock
On Congress taking action over data breaches:
"Whew! I feel so much better now that Congress is getting more involved in 'free market' transactions. What could possibly go wrong?"
Related Article:
Image: Thinkstock
On bankers' hostility toward Bitcoin:
"The death of the banking system is inevitable, like the buggy whip makers" (via Twitter )
Related Article:
Image: Thinkstock
On whether Bitcoin should matter to bankers:
"Banks should be open to #Bitcoin as regulatory guidance becomes clear. Right now regulatory risks outweigh rewards." (Via Twitter )
Related Article:
Image: Bloomberg News
On Sen. Joe Manchin (D-W.Va.) urging regulators to ban Bitcoin, citing 'fear of illicit activity':
"Fear of 'illicit activity'? Or fear of disruption?" (Via Twitter )
Related Article:
Image: Bloomberg News
On a proposal to impose a higher tax on big banks:
"#CreditUnions pay less taxes than @WarrenBuffett's secretary." (Via Twitter )
Related Article:
Image: Bloomberg News
On a proposal to impose a higher tax on big banks:
"There is far too much Congressional meddling in banking affairs, both overtly and in less visible ways through tangling and misguided over-regulation."
Related Article:
Image: Thinkstock
On the Consumer Financial Protection Bureau vowing to crack down on mortgage servicers:
"A servicer only provides a service. It does not own the loan and has no economic reason to keep providing the service at a loss
Since the CFPB has an unlimited and unregulated budget, perhaps it could set up a servicing operation to buy troubled loans from the current servicers."
Related Article:
Image: Bloomberg News
On JPMorgan Chase's retreat reflecting tough mortgage-market conditions:
"After booms in MBS, new construction, refi and multifamily [housing] in last 10 years, maybe [it's] time for mortgage market to find a new normal?" (Via Twitter )
Related Article:
Image: Bloomberg News
On compliance challenges at small banks:
"Since a small bank has relatively few transactions for examiners to review, even the smallest mistake can get elevated to a 'systemic' issue in the bank's exam report."
Related Article:
Image: Thinkstock
