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Inside Washington (09/20/2012)
  • WASHINGTON (9/21/12)--The Financial Services Roundtable named former Minnesota Gov. Tim Pawlenty as its new president/CEO, effective Nov. 1.  Pawlenty will take over for long-time CEO Steve Bartlett, who announced his retirement earlier this year. Pawlenty, 51, served as governor of Minnesota from 2003 to 2011 and before that was a member of the state's House of Representatives from 1993 to 2003, where he served two terms as Majority Leader. From 2007 to 2008, he chaired the bipartisan National Governors Association. The Financial Services Roundtable is a bipartisan organization …
  • WASHINGTON (9/21/12)--Federal Deposit Insurance Corp. board member Thomas Hoenig said bankers do not understand the public's dissatisfaction with their industry or the competitive advantage banks hold in the marketplace.  "It is alarming that CEOs of some financial firms fail to grasp why they are trusted so little nor appreciate the reputational damage they caused their industry," Hoenig said in a speech delivered to the Exchequer Club in Washington. "They acknowledge very little offense in taking a public subsidy and squandering it in a series of actions that place billions of taxpayer dollars at risk.  They fail to appreciate how in so many ways it seems that the game is fixed in favor of a privileged few. The public is aware that there seems to be no accounting for the enormous damage inflicted on our economy." Despite the addition of hundreds of regulations, the incentives facilitating the excesses leading to the crisis remain largely unchanged, Hoenig added …
  • WASHINGTON (9/21/12)--A group of Republican state attorneys general is refusing to sign cooperation agreements with the Consumer Financial Protection Bureau (CFPB). Only 12 states--all but one with Democratic attorneys general (AGs)--have signed the memorandum, which is designed to protect confidential information shared among states and the bureau (American Banker Sept 20). CFPB Director Richard Cordray asked all 50 states in March to sign the memorandum. The Republican AGs refusal to sign the documents is part Republican protest against the CFPB that began in the U.S. Congress, according to the article. Oklahoma AG Scott Pruitt said he is declining to sign the agreement because of legal objections to the Dodd-Frank Act, which created the CFPB …


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