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Time for a Glass-Steagall Reprise?

Lehman bankruptcy anniversary summons too-big-to-fail memories.

By Bill Poquette, Editor-in-Chief

Sept. 15, 2018, marked the 10th anniversary of the collapse of Lehman Brothers, the fourth-largest and venerated U.S. investment bank that Fortune magazine had labeled a year earlier the No. 1 “most admired securities firm.” A primary cause for the debacle, which was to become a stark symbol of the financial crisis, was imprudent lending amidst the housing bubble.

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Do We Need Fintech Charters and ILCs?

Or are they the proverbial solution looking for a problem?

By Bill Poquette, Editor-in-Chief

Last August in this space, I wrote about a speech by Acting Comptroller of the Currency Keith Noreika in mid-July strongly defending the agency’s proposal for special-purpose national charters for fintech companies offering banking or bank-like services. This was a few weeks after the Conference of State Bank Supervisors and the New York Department of Financial services filed lawsuits — which were subsequently dismissed as premature — charging the OCC lacked legal grounds for such charters.

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M&A at Mid-Year

Values rise, pace quickens from a year ago.

By Bill Poquette, Editor-in-Chief

Maybe it’s the weather. The central part of the country has been sweltering since May, and a couple of big-ticket bank acquisitions in Chicago and Denver seem to suggest a warming-up of merger activity and pricing.

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The Rule of Eights

Major legislation comes with compelling regularity.

By Bill Poquette, Editor-in-Chief

True to form, S. 2155 arrived right on time, just eight years after the law it was intended to defang, the Dodd-Frank Act of 2010. True to form, that is to say, because roughly every eight years, major financial reform legislation is spawned to remedy the perceived evils of the previous version. This trend has been quite consistent over almost the past three decades.

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CRA at 40

Regulators want to catch up with technology.

By Bill, Editor-in-Chief

At age 40 and counting, is the Community Reinvestment Act seeming a bit long in the tooth? Some think so, and a case is being made — by people who can get it done — for an update that reflects the impact of evolving technology on banking services since the most recent effort to resuscitate the regulations in 1995.

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