WFAE's "BANKTOWN" SHOW

WFAE's February 7 edition of Charlotte Talks focused on President Trump's proclamation that he is going to  "do a job" on the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010.

The 50 minute show didn't reveal any new insights into the future of the consumer-friendly Obama-era legislation other than to highlight the possibility that the Dodd-Frank created Consumer Financial Protection Bureau (CFPB) is most likely going to be subjected to some changes relating to the enforcement authority of its director and how the agency receives its funding.

Congressman  Robert Pittenger 

But, the morning radio show was not without a little suspense and controversy.  First, the principal guest, Congressman  Robert Pittenger was a no-show, and second,  local banking giant Bank of America (or to be precise CEO Brian Moynihan) was mentioned in a positive light by panel guest Rick Rothacker.

Charlotte Talks is a well produced and informative weekday program, but, when it comes to the topic of  "Banktown" (as the show's producers like to refer to the city's banking industry), things invariably go awry.
This show was no exception.

To be honest, it was hard to imagine that Congressman Robert Pittenger would agree to be on a show with Charlotte Observer reporter  Rick Rothacker who has reported extensively about the congressman's legal problems with the federal government over the years.

Rick Rothacker

Being called away to a  "security briefing" just before going on air was therefore not a surprise to me. Although as a listener, one wasn't sure during the broadcast if he might just make an appearance towards the end of the show.

During the broadcast, Mr. Rothacker mentioned that Bank of America CEO Brian Moynihan was "an early supporter" of Dodd-Frank.

But if he understood the mindset of US banking industry executives, he would know that Mr. Moynihan or JP Morgan Chase CEO, Jamie Dimon for that matter, are about as much in favor of Dodd-Frank as having a hole in their respective heads.

Claims by Mr. Moynihan that the big banks would like to see a level playing field is pure public relations spin.

If Dodd-Frank and possibly the CFPB do go away, it will be a very black day for the American consumer.