Readers react to BofA defending reverse mortgage borrowers, support the Federal Reserve creating a real-time payments system, advocate for consolidating federal bank agencies and more.
"The greatest generation knows their house isn't an ATM . . . There isn't a spoonful of sugar large enough to make that medicine go down so stop sugar coating the reverse mortgage situation."
Related:
"The path to real-time payments for community banks requires the Fed to be an operator, since the large banks have made the ill considered decision to adopt an inferior and relatively insecure solution that actually increases fraud & identity theft!"
Related:
"One has to wonder with all the political scrutinizing of would be bank competitors, why the DOJ gave an all clear to 25 big banks to together build a new payment system. Innovation in US financial services will continue to lag the rest of the world so long as banks have the exclusive franchise."
Related:
"Agreed, the solution is not to add an additional bloated government agency. Additional training and possibly additional staff might be needed but please no more unnecessary government agencies."
Related:
"Another reason for CRA modernization . . . $60 billion in community lending isn't enough for some people."
Related:
"I’m guessing that all those commentators fretting about anything that might chill the economy were also saying the same thing in 2005 and 2006 when Warren was warning about predatory mortgage lending. Some folks never learn."
Related: