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Featured Article, ILSR Press Room filed under Banking | Written by ILSR Admin | No Comments | Updated on Apr 1, 2012

Banking For the Rest of Us

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/banking-for-the-rest-of-us/

In this cover story for Sojourners Magazine, Stacy Mitchell writes that there is remarkably little evidence to support the idea that bigger banks are superior. They have come to dominate, not because they are more efficient or offer better services, but because they have rigged government policy in their own favor. It’s time for a new set of rules—banking policies for the 99 percent. Continue reading

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Featured Article filed under Banking, The Public Good, The Public Good News | Written by David Morris | 5 Comments | Updated on Mar 1, 2011

And The Academy Award for Cowardice Goes To….

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/and-the-academy-award-for-cowardice-goes-to/

After winning an Oscar for Best Documentary for Inside Job, Charles Ferguson injected some much-needed real world relevance amidst the fabulously glitzy proceedings. Continue reading

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Article filed under Banking | Written by Stacy Mitchell | No Comments | Updated on Aug 25, 2010

Federal Policy Threatens Local Banks, a Top Fed Official Says

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/federal-policy-threatens-local-banks-top-fed-official-says/

A top Federal Reserve official says that locally owned banks do a better job of serving communities and small businesses, but they are threatened by federal policies that favor their big competitors. Continue reading

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Featured Article filed under Banking | Written by Stacy Mitchell | No Comments | Updated on Jul 14, 2010

Taking Financial Reform into Our Own Hands

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/taking-financial-reform-our-own-hands/

How do we change course and revive a banking system that is more local and responsive to the needs of communities? Continue reading

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Article filed under Banking | Written by Stacy Mitchell | No Comments | Updated on Apr 7, 2010

What Big Banks Fear More than the CFPA

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/what-big-banks-fear-more-cfpa/

Hanging in the balance of the financial reform debate is an issue that has received far less attention than the Consumer Financial Protection Agency, but is at least as important and probably more so: whether Congress will restore the authority of states to oversee national banks. Continue reading

Article filed under Banking | Written by Stacy Mitchell | No Comments | Updated on Mar 24, 2010

Finally, a Bill to Reinstate Limits on Bank Size

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/finally-bill-reinstate-limits-bank-size/

Not one to let a good crisis go to waste, Bank of America managed, in the dark days of 2008, to parlay its own insolvency and near collapse into attaining something it had long dreamed of: federal approval to bypass a national law that says that no bank may acquire another bank if it would end up holding more than 10 percent of the country’s deposits.

Now, at long last, a new Senate proposal calls for reinstating strict size caps.  It would mean disassembling at least five big banks.

Continue reading

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Article filed under Banking | Written by Stacy Mitchell | No Comments | Updated on Feb 2, 2010

Financial System Even More Vulnerable Now, Warns Inspector General

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/financial-system-even-more-vulnerable-now-warns-inspector-general/

The latest report from TARP Inspector General Neil Barofsky warns, “Even if TARP saved our financial system from driving off a cliff back in 2008, absent meaningful reform, we are still driving on the same winding mountain road, but this time in a faster car.” Continue reading

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Article filed under Banking | Written by Stacy Mitchell | No Comments | Updated on Jan 13, 2010

Financial Crisis Commission Hearings Begin

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/financial-crisis-commission-hearings-begin/

Hearings held to investigate the crash of 1929 led to the passage of the Glass-Steagall Act, which fundamentally restructured the banking industry.  Can the FCIC hearings, which get underway today, help to bring it back? Continue reading