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Banking


  • We Owe Them A Debit of GratitudeGovernment, Banking, Blog, Money

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    And so, we begin anew. During the Great Congressional Financial Services Smackdown of 2009 and 2010, Illinois Democrat Richard Durbin inspired fellow Senators to pass an Amendment to the Dodd-Frank Act directing the Federal Reserve to study and, hopefully, reduce the relatively unknown “swipe fees” that banks collect from retailers every time a consumer uses a debit card to make a purchase. Last summer, the Federal Reserve responded with a call to cut swipe fees […]

  • Are the Deregulators Trying to Destroy the Economy?Government, Banking, Consumer Protection, Blog, Money

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    I understand that deregulators are committed to an ideology. We all need something to believe in, after all, and they believe in the power of markets to both create growth and self-regulate. That’s all very nice and looks good on paper, but given the past few years, that argument simply doesn’t pass the straight face test. I mean, let’s be real, deregulation nearly destroyed our economy as the past few years clearly demonstrate. But the […]

  • Are CARD Act Critics in Complete Denial?Financial Literacy, Government, Banking, Politics, Consumer Protection, Blog

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    In law school, I was taught – as are all aspiring lawyers – to perfect the art of arguing any and/or all sides of a case. The lawyer’s mantra – “If you can’t beat on the facts, beat on the law. If you can’t beat on the law, beat on the facts. If you can’t beat on either the facts or the law, beat on the table.” The American Bankers Association has been a vociferous […]

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