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Readers comment on the ripple effects of the Equifax breach, who benefits from the CFPB's final arbitration rule, gender-related issues in financial services, and more.
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A retort to an op-ed arguing that consumers benefit from the Consumer Financial Protection Bureau's arbitration rule:

"The most revealing data is in the CFPB's arbitration study. Consumers get little or nothing from class actions. That is because a class action is not a group banding together to right a wrong, it is usually an attorney appropriating the rights of a group of consumers without their knowledge or consent in pursuit of a settlement that will result in large attorney's fees and nothing for the consumer. It is a racket, not justice."

Related: CFPB arbitration rule is an undeniable win for consumers
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A traffic light stands in front of a Wells Fargo & Co. bank branch in New York, U.S., on Monday, April 7, 2014. Wells Fargo & Co. is expected to release earnings figures on April 11. Photographer: Craig Warga/Bloomberg
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On Wells Fargo insisting that it has a policy not to retaliate against whistleblowers:

"They also had a policy against opening fake accounts. Actions speak louder than words."
Related: Wells Fargo fighting order to rehire whistleblower
Some of the women from the 2017 Most Powerful Women in Banking rankings.

On the most powerful women in banking and finance rankings:

"This. This is the best part of the year — the #MPWIB list." (via Twitter)
Related: The Most Powerful Women in Banking
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Signage is displayed outside of a Royal Bank of Canada (RBC) branch during the company's annual general meeting in Toronto, Ontario, Canada, on Thursday, April 6, 2017. RBC Chief Executive Officer David urged lawmakers to coordinate interventions and act quickly to cool housing markets, particularly in Toronto and Vancouver. Photographer: Cole Burston/Bloomberg
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On Royal Bank of Canada readying an AI-based personal financial management module for its banking app:

"Great to see AI and machine learning put to good use, here in the PFM space. Focusing on behaviours that are socially desirable but financially rewarding is the way forward — also in finance."

Related: RBC's stab at fixing what's broken in personal financial management
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On the soul-searching for financial institutions that have had a business relationship with Equifax:

"From a vendor due diligence perspective, it is hard to ignore the fact that Equifax knowingly failed to implement basic safeguards and ignored 'critical' patch management. How can you justify (to your depositors, your board and your shareholders) continuing to do business with Equifax?"

Related: Credit union suit of Equifax may be first, likely won't be last
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On Federal Reserve Board Chair Janet Yellen's hinting that Wells Fargo may face further regulatory penalties:

"Don't be fooled. Too big to fail also means too big to seriously punish. If it weren't WF or one of the other mega banks, the regulators would have shut them down and closed them for the fraudulent and damaging actions taken."

Related: Yellen signals Wells may face more actions
Arbitration Vendor management Data breaches TBTF Artificial intelligence CFPB News & Analysis Equifax Wells Fargo RBC
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