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"Wells Fargo Rebuke Puts Bank Boards in Fed's Crosshairs" by Ryan Tracy and Emily Glazer; "Fed puts banks on notice with action against Wells Fargo" by Alistair Gray and Ben McLannahan; "The Finance 202: Yellen's 'mic drop' lands on Wells Fargo" by Tory Newmyer.
Ian Katz was quoted in a number of articles this week including:
"Wells Fargo Rebuke Puts Bank Boards in Fed's Crosshairs" by Ryan Tracy and Emily Glazer (Wall Street Journal)
“The Fed just put the fear of God into bank boardrooms across the country,” Ian Katz, an analyst at Capital Alpha Partners, said in a note on Sunday. “And that’s exactly what it wants to do.”
"Fed puts banks on notice with action against Wells Fargo" by Alistair Gray and Ben McLannahan. (Financial Times)
The Fed’s intervention has “put the fear of God into bank boardrooms across the country”, said Ian Katz, policy analyst at Capital Alpha. “Any finance executive thinking that getting on to a bank board would be a cushy, mail-it-in, part-time retirement hobby needs to think again.”
"The Finance 202: Yellen's 'mic drop' lands on Wells Fargo" by Tory Newmyer (Washington Post)
More than that, though, the unprecedented move by the Fed represents a shot across the industry’s bow. The policymaking gears in the Trump era have been spinning in sync to relieve pressure on banks. Yellen’s mic drop — as Capital Alpha’s Ian Katz described it in a Sunday note — is a reminder that regulators can still inflict pain on wayward firms.“Lawmakers make noise and create headlines,” but don’t pass much, Katz writes. “Regulators are the ones that can put the hammer down. The Fed just put the Fear of God into bank boardrooms across the country. And that’s exactly what it wants to do.”
Sources:
https://www.wsj.com/articles/wells-fargo-rebuke-puts-bank-boards-in-feds-crosshairs-1517795119
https://www.ft.com/content/c51ddfdc-09ef-11e8-839d-41ca06376bf2
https://www.washingtonpost.com/news/powerpost/paloma/the-finance-202/2018/02/05/the-finance-202-yellen-s-mic-drop-lands-on-wells-fargo/5a77b59630fb041c3c7d762b/?utm_term=.1fa85e04066b
