Comments on: Parting Thought on the FDIC Study….and 2009 http://countingoncurrency.com/wp/2009/12/21/parting-thought-on-the-fdic-study%e2%80%a6-and-2009/ a resource for cash supply chain management professionals Mon, 12 Sep 2011 11:34:18 +0000 hourly 1 http://wordpress.org/?v= By: LessCash http://countingoncurrency.com/wp/2009/12/21/parting-thought-on-the-fdic-study%e2%80%a6-and-2009/comment-page-1/#comment-188 LessCash Mon, 28 Dec 2009 02:36:37 +0000 http://countingoncurrency.com/wp/?p=1973#comment-188 I agree with Bob. Many of these folks know the reporting requirements banks are under and want to avoid showing up on any radar. At the same time, most of the top 20 banks are too intimidated by their Regulators and Compliance directors to even consider anything out of the norm. Both of these conditions are the result of government being way to involved in this industry. While most in Washington are screaming for more regulation it is unlikely that banks will have the freedom to do something this responsive to market demands. I agree with Bob. Many of these folks know the reporting requirements banks are under and want to avoid showing up on any radar. At the same time, most of the top 20 banks are too intimidated by their Regulators and Compliance directors to even consider anything out of the norm.

Both of these conditions are the result of government being way to involved in this industry. While most in Washington are screaming for more regulation it is unlikely that banks will have the freedom to do something this responsive to market demands.

]]> By: Bob http://countingoncurrency.com/wp/2009/12/21/parting-thought-on-the-fdic-study%e2%80%a6-and-2009/comment-page-1/#comment-186 Bob Mon, 21 Dec 2009 15:10:04 +0000 http://countingoncurrency.com/wp/?p=1973#comment-186 I like your idea of banks offering services that are more convenient and standardized. I wonder out loud if bank regulations such as The Gramm-Leach-Bliley Act make it difficult for the bank to start that way - are they subject to reporting requirements? The local drug stores and remitters don't have any reporting. And as I read more and more about the upcoming US Census, I see articles about local and state government concern that many will avoid the census out of fear of government reporting. Is this same group also close to the unbanked group? I like your idea of banks offering services that are more convenient and standardized. I wonder out loud if bank regulations such as The Gramm-Leach-Bliley Act make it difficult for the bank to start that way – are they subject to reporting requirements? The local drug stores and remitters don’t have any reporting. And as I read more and more about the upcoming US Census, I see articles about local and state government concern that many will avoid the census out of fear of government reporting. Is this same group also close to the unbanked group?

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