… is it actually possible that it would be in a financial institution’s competitive best-interest to release as much data as possible into the marketplace, in exchange for freedom from regulatory shackles?
Instead of competing with smaller community banks, the largest financial institutions will be forced to contend with new technology options that enable consumers to make payments at the point of sale, often without the need for a debit or credit card.
Put simply: America’s largest financial institutions were considered too large, too complex and too hopelessly interconnected to ever be allowed to collapse. That is no longer the case, now that the FDIC, Federal Reserve and Financial Stability Oversight Council have united on the mandatory creation of “living wills” for the largest banks in the country. Continue reading…
