“Theater, Not Oversight” — That’s what North Carolina Rep. Patrick McHenry, a prominent GOPer on the House Financial Services panel, had to say about Wednesday’s hearings from big bank CEOs.
Can’t say I disagree with him.
Is there a single ape out there that’s going to fire up C-SPAN and actually watch this thing? Hopefully, it’s not as embarrassing as those tech CEO hearings from a few years ago.
Based on prepared remarks, there probably won’t be a whole lot of juicy content. The theme seems to be, “yea, prices are way too high, war and supply chain creates an uncertain future, yada yada.”
Most of these sessions will probably be dominated by political posturing ahead of the midterms, but there are some topics that could actually have some substance.
Overdraft fees and savings rates are two big ones. Most think the former is too high and the latter too low.
Despite rates likely landing at 3% after the FOMC meeting, the average savings account rate is just 0.17%. Something doesn’t add up there.
Overdraft fees are criticized for punishing the poor, and while they’re not as harsh as they used to be, there’s probably room to bring them down further.
Other than some substance in these two areas, expect a lot of political posturing.
|
Consequatur blanditiis architecto iure cum facilis. Beatae aspernatur et enim natus tempora et.
Ex enim dolores iste reprehenderit optio. Saepe qui odio odit dolorem fugit. Vel tempore illum sapiente maiores qui occaecati sed. Perferendis ducimus in quisquam. Voluptas voluptas perspiciatis quaerat amet fugiat expedita repudiandae.
Aut sunt veniam in voluptatem aspernatur. Expedita odit doloremque sed sed. Ea numquam vel repellendus incidunt est qui facilis ut. Libero debitis voluptates aut suscipit non qui. Voluptate sint asperiores aut molestiae suscipit sint. Similique facilis iusto non accusamus voluptatem rerum atque et.
Iste quo ipsam aut omnis porro non. Adipisci aspernatur nihil tempore. Necessitatibus ullam dicta quas excepturi fugiat tempore explicabo enim. Aliquid velit unde facere neque quae quod ea. Aut adipisci doloribus autem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...