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Banking Regulation and Special Features

Take the main bank which you consider 'your' bank. Suppose the bank manager has asked you to support an imaginary petition to remove some of the 'over-burdening' regulations that the bank has to comply with. Keep in mind that the sub-prime mortgage crisis arose in part because the regulations governing mortgage lending had been almost totally relaxed.

Submit a two to three page paper that describes your bank including some statements regarding:

- The reasons you chose this bank.

- The 'special features' this bank offers.

- The regulations this bank faces.

- Any recent changes this bank has gone through.

Then consider the bank manager's request that you support the petition and provide a written response to that request.

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Solution Preview

Step 1
The bank that I consider to be my bank is the US Bank. This bank is located at 800 Nicollet Mall which is close to my residence. The headquarters of the bank is also located in Minnesota. It is the fifth largest bank in the US on the basis of deposits and fourth largest on the basis of total branches. The bank has a large presence in Minneapolis.

Step 2
There are many reasons why I chose this bank. The bank has a large number of branches and ATMs in convenient places in Minneapolis. The staff is polite and helpful. It has 24 hour banking services in Minneapolis. It also offers common services such as transaction services, ATMs and card services. I had used the services of US Bank as a student and have continued to use its services. Also in 2009, US Bank was named the Best Bank in the US by Euromoney Magazine. It has also been ranked first in the US in the Privacy Trust Study conducted by Ponemon Institute in 2006, 2007, and 2009. Overall, I have chosen US Bank because its service is good.

Step 3
The special services being offered by US Bank include services such as workplace banking, payroll services, direct deposit of ...

Solution Summary

This solution explains the functioning and strengths of the US Bank. The sources used are also included in the solution.