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American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and from our social media platforms.
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On whether banks' innovation labs help drive fresh ideas or amount to a lot of hot air:

"Put me in the naysayer camp. Innovation labs are today's bright shiny objects. Big banks have difficulty getting their ancient, patchworked core banking systems to work seamlessly and reliably, and they're devoting resources to delivering services through household appliances? (Who doesn't yearn to pay bills while vacuuming?)"

Related Article: Bank Innovation Labs: Boon or Boondoggle?

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On the news that five of BB&T's top executives will receive fat bonuses if the bank's merger with Susquehanna Bancshares is successfully integrated:

"Strategic planning and vision is a CEO's job and he is paid a salary and bonuses for implementing it. He should not be compensated additionally for a merger. This is the reason banks have a bad name. Most CEOs are already overpaid and then one is paid a bonus for doing his job."

Related Article: BB&T's M&A Bonus Could Prompt Others to Craft Similar Plans

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On whether cloud-based core banking could make sense for financial institutions:

"Apple co-founder Steve Wozniak has been an outspoken opponent of the cloud for years and he is correct. Hacks are occurring all the time. Any banker that does this opens himself or herself up to endless and very costly litigation."

Pictured: Steve Wozniak, co-founder of Apple Inc.

Related Article: Is It Almost Time to Put Core Processing in the Cloud?

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On whether regulators would approve of banks migrating to a cloud-based core:

"From outside the banking industry it may appear that regulators 'haven't come out with a clear stance,' but based on my regular interaction with examiners and regulators the message is clear. Moving any sensitive customer data, never mind core processing, into a true cloud environment will result in enough additional regulatory scrutiny and overhead for the bank that any benefit you can get from the move will be more than offset."

Related Article: Is It Almost Time to Put Core Processing in the Cloud?

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On the prophetic abilities of former Fleet Financial chief J. Terrance Murray, who predicted that telephones, ATMs and computers would wipe out traditional full-service branches:

"He missed his prediction about branches. There are still about 250,000 of them. And he did not foresee the Internet and mobile phones. But yes, he was a force in his time."

Related Article: Blasts from America's Banking Past, Part III

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On banks' hesitancy to use cloud computing due to security concerns:

"Most of the larger hacks or data breaches at banks lately have turned out to be caused (either on purpose or not) by the bank's own employees. The idea that a small bank would have more sophisticated data management controls and capabilities than Salesforce or Amazon is simply not a realistic view."

Related Article: Is It Almost Time to Put Core Processing in the Cloud?

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On the high cost of ostensibly low inflation:

"Tell a homeowner on the shore that his property is eroding only 2% per year, and he will not be comforted. In 25% years, half of it will be gone. The same happens to income from inflation, only worse."

Related Article: Low Inflation Is Still Too High for Bank Depositors

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