- Wall Street Offers No Shortage of Reasons to Take on Too-Big-To-Fail
- If Washington was waiting for another Wall Street scandal before taking on too-big-to-fail, they’ve gotten it, ICBA President and CEO Cam Fine wrote in a blog post. In a matter of months, Wall Street financial firms made headlines with multi-billion-dollar trading losses, anticompetitive behavior in the commodities market, Libor manipulation, mortgage fraud and even a bribery investigation over hiring practices in China, Fine wrote.
- Megabank Fines Today, Community Bank Regulations Tomorrow
- Misconduct by megabanks such as JPMorgan Chase and Bank of America include the kinds of activities that result in new across-the-board regulations for the banking industry—community banks included, ICBA President and CEO Cam Fine writes in a blog post. It wouldn’t be the first time Main Street institutions had to pay their pound of flesh for the sins of Wall Street.
- Too Big to Ale: Megabank Anticompetitive Behavior Hard to Swallow
- The anticompetitive Wall Street behavior in the commodities markets demonstrates that huge financial firms have grown so large and become so interconnected in our economy that they are demonstrating classic signs of monopoly power: collusive and anticompetitive behavior that pushes prices up and reduces the social surplus provided by free markets, ICBA President and CEO Cam Fine writes in a blog post.
- Too-big-to-fail distorts competitive landscape
- In a February 2013 op-ed for the Charlotte Business Journal, ICBA President and CEO Cam Fine expresses his opinion on how the too-big-to-fail institutions distorts competitive landscape in the financial industry.
- ICBA Backs GAO Study of Too-Big-To-Fail — GAO Report Will Focus on Potential Market Distortions and Risks Posed by Megabanks
- ICBA thanked the Government Accountability Office (GAO) for agreeing to study potential market distortions caused by too-big-to-fail financial institutions.
- ICBA Backs Review of Too-Big-To-Fail Financial Institutions — New Legislation Would Require GAO Report on Market Distortions and Risk by Megabanks
- ICBA issued a statement following the introduction of legislation sponsored by Sens. David Vitter (R-La.) and Sherrod Brown (D-Ohio) directing the Government Accountability Office (GAO) to study potential market distortions caused by too-big-to-fail financial institutions.
- In financial ecosystems, big banks trample economic habitats and spread fiscal disease
- A story from Princeton University in November 2012 discusses research from Princeton, the Bank of England and the University of Oxford applied methods inspired by ecosystem stability and contagion models to banking meltdowns and found that large national and international banks wield an influence and potentially destructive power that far exceeds their actual size.
- So Long as Big Banks Can't Fail, Small Banks Need TAG
- ICBA President and CEO Cam Fine writes in an American Banker op-ed piece that as long as big banks cannot fail, community banks need the Transaction Account Guarantee (TAG) program.
- ICBA Stands with Sens. Brown and Vitter Against Wall Street Spin Machine
- ICBA President and CEO Cam Fine released a statement in March 2013 supporting a press release sent by Sens. Sherrod Brown (D-Ohio) and David Vitter (R-La.), which addressed claims by the largest members of the financial services industry regarding their “too big to fail” megabank subsidy.
- Fed's Powell Sees Progress Ending Too-Big-to-Fail Subsidies
- In a March 2013 Bloomberg article, Federal Reserve Governor Jerome Powell said regulators are developing the tools needed to dismantle large and failing financial institutions to help remove the benefit from being seen as too big to fail.