'The Fox Is in the Henhouse': Comments of the Week
March 7, 2014 12:45 PM
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.
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On racial disparities in Consumer Financial Protection Bureau employee evaluations:
"They're not borrowers so the Fair Lending and non-discriminatory laws do not apply here. But, truly, the fox is indeed in the henhouse."
Related Article:
Image: Bloomberg News
On racial disparities in Consumer Financial Protection Bureau employee evaluations:
"Frankly, with a sample this small (191 people) you can't draw much of a quantitative conclusion. This is different for larger entities like banks with thousands of employees, but with only 1,100 or so [total employees evaluated] I would caution strongly against drawing any sort of conclusion."
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On racial disparities in Consumer Financial Protection Bureau employee evaluations:
"What a shame that an agency supposedly dedicated to protecting consumers, long-ignored by other federal financial regulators, could be so set on self-destruction."
Related Article:
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On John Buhrmaster, new chair of the Independent Community Bankers of America, suggesting that small banks consider fee hikes:
"Great idea! Our customers won't mind."
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On Citigroup CEO Michael Corbat fuming about discovering fraud in the bank's Mexican unit:
"Although Mr. Corbat's outrage over the continuing 'bankster' culture is encouraging, the absence of any mention of legal action against the Citibankers that participated in the fraud is glaring. Words without actions are just blather."
Related Article:
Image: Bloomberg News
On JPMorgan Chase sending letters to millions of customers seeking personal information:
"This is ripe for scammers and wrong in so many ways. I would never call a number to give them information based on a 'letter.' Talk about identity theft."
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On whether debt collection is a dying business:
"'Business as usual' won't keep it going. Banks are becoming more conservative and restrictive, which should reduce the pipeline of bad debt flowing through the system."
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On a risk manager's view that Dodd-Frank was regulatory overkill:
"Until we begin to see more regulators who have been bankers and more bankers who have held regulatory roles, we will always see the pendulum of over-correction and under-correction in banking policy and practices."
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On a risk manager's view that Dodd-Frank was regulatory overkill:
"For you who want a good regulatory regime
here's a simple one: require all bank executives above a certain level to keep 90% of their net worth, excluding their primary residence, in common and preferred stock of their employer."
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On community bankers regarding big banks rather than regulations as their biggest threat:
"Every community banker I speak with lists #1 threat Regulations, #2 threat D.C. #3 threat TBTF banks oh wait!! One & the same!" (Via Twitter )
Related Article:
Image: Bloomberg News
On the view that banks levels of human interaction with customers are key differentiators:
"Even if they cost more to serve, the customers who interact with your bankers tend to be more profitable." (Via Twitter )
Related Article:
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