Tag Archives: Big Banks

Blog: Fed Should Ignore Megabank Lobby and Strengthen Capital Rules

As the Federal Reserve prepares new capital rules for American banks, Wall Street is rolling out its misdirection and bad arguments – as it has for much of the past decade – about why they should not be required to steel themselves against a crisis or downturn. And once again, regulators and Congress must be prepared to ignore their histrionics and strengthen capital requirements.

News Release: Banks Should Heed Fed Warning on Crypto Asset Risks

Washington, D.C. — The Federal Reserve and other banking regulators made the right call Tuesday by issuing a warning regarding the risks that crypto-assets pose to banking organizations. There is widespread volatility, fraud risk, legal uncertainties, unfair and deceptive practices, run and contagion risks, high levels of concentration and interconnections between firms, and poor risk management and governance found throughout the industry – all of which spells danger for investors and consumers alike. 

sign for the CFPB outside a building

Blog: Big Banks Argue Discrimination is Fair and it’s Not Satire

Ask a reasonable person if discrimination on the basis of race or religion is unfair. The odds are good – very good, according to this AFR poll, – that you’ll get a resounding “yes,” a polite “of course,” or even an incredulous “are you kidding?” Yes. Discrimination. Is. Unfair. But if you try to convince big-bank lobbyists that discrimination is unfair, you won’t get a “yes.” You get a lawsuit, with multiple awful lines of attack, that stands a good chance of succeeding. And that’s not satire.

In The News: Banks change their tack in navigating the culture war

“When we talk about the [North Carolina] bathroom bills of 2016 and 2017 compared to now, my first response is, well, they haven’t felt that the public pressure that they would be feeling to do something is worth more than the financial benefit they have from doing nothing,” said Mandla Deskins, an advocacy manager for Take on Wall Street, an activist coalition that pushes for financial reform. “That is the calculation that I would assume banks are always making,” Deskins added, “because it’s not like they have some long-standing position against hate.”