top of page
iStock-1399560074_72ppi.jpg

Cajun Thoughts Blog

vectorstock_22495467_72ppi.jpg

DC Exchequer Club Remarks

Updated: Nov 4, 2022

Recently I spoke at DC Exchequer Club and below are a few of the tidbits from that speech:


The next $1 trillion bank will be a merger of @USBank and @PNCBank within 5 years, (assuming a Republican wins the White House). Banks must grow to achieve scale and to try and compete with the big dogs of banking — @JPMorgan and @BankofAmerica. And guess what is driving this need to get bigger: regulators/regulation and investment in technology and fraud costs. The magical number was once $5 billion. The game has changed.

It took 6 months, 12 phone calls, and a Capital Hill manhunt for CFPB Director Chopra to finally meet with me, and ultimately the CBA Board. I don’t know if his staff was not relaying info and/or if he didn’t want to meet with me. I didn’t take it personally this time as he was not returning anyone's phone calls. I have heard he is now getting around to seeing people.


It is imperative the CFPB becomes a well respected agency that provides certainty and stability. However, I don’t see this happening until the leadership structure and appropriations process is changed.


I never commented before:


*Don’t know how a credit union over $10 billion can justify not paying federal taxes, or adhering to CRA regulations. Blows me away.


The question I will leave you with: With the recent federal court ruling regarding the CFPB's funding deemed unconstitutional, are the CFPB's days numbered?

Recent Posts

See All

The Silicon Valley Bank Aftermath Total and absolute bank mismanagement and the lack of active oversight by The Federal Reserve Board of San Francisco is how I would describe the downfall of Silicon V

bottom of page