Third, banks and other financial institutions, often with the help of their regulators, have found ways, albeit within statutory limits, to expand not only the activities in which they engage, but also to compete more effectively with one another. Market developments and regulatory actions have created tensions with the existing legislative framework underpinning banking and financial services. I will focus on three policy responses.
4  BIS central bankers’ speeches  Conclusion Too many of the practices in the mortgage servicing industry have been developed and defended solely on the basis of “standard industry practice,” but many practices were not only standard, but shoddy.