'Banks Will Have a Real Problem When I Get into Office': Week's Best Quotes
February 26, 2014 11:06 AM
The most notable quotes from American Banker stories of the previous week. Readers are encouraged to add their own observations in the Comments fields at the bottom of each slide.
On the mixed messages banking regulators have sent about deposit-advance loans:
"Four agencies with three answers. Until I see it, I don't expect regulatory coordination." Richard Hunt, president of the Consumer Bankers Association
Related article:
Whistle-blower Everett Stern on Congressional candidacy in Pennsylvania:
"These banks are going to have a real problem when I get into office."
Related article:
On an anonymous online campaign to combat a federal crackdown on banks and payment processors:
"I have no idea who is behind this, and I don't have any comment." Marsha Jones, president of the Third Party Payment Processors Association
Related article:
Image: Thinkstock
On how compliance tasks distract bank management:
"If our executives are becoming experts on regulations... they aren't out making loans or helping our community." Leslie Andersen, chief executive of Bank of Bennington
Related article:
On Bank of America's (BAC) response to customers concerns related to the Target data breach:
"That was pretty poor customer service. That's such a lost opportunity." Shirley Inscoe, a senior analyst at Aite Group
Related article:
Image: Thinkstock
On Spanish bank BBVA's struggles to build U.S. brand recognition:
"They're virtually unknown. If you go to 100 people and ask what BBVA is, 99 people will think you're talking about some kind of drink." Serge Milman, principal consultant with SFO Consultants
Related article:
Image: Thinkstock
On the decision to let Lehman Brothers fail, as described in transcripts from a recently release Federal Reserve meeting:
"I think it's too soon to know whether what we did with Lehman is right
We took a calculated bet." Eric Rosengren, president of the Boston Fed
Related article:
Image: Bloomberg News
On the Consumer Financial Protection Bureau's intention of giving mortgage servicing greater scrutiny:
"Please understand, business as usual has ended in mortgage servicing. Groundhog Day is over." Steven Antonakes, deputy director of the Consumer Financial Protection Bureau
Image: Bloomberg News
On why small banks will have little competition from larger rivals in lending to state-licensed marijuana merchants:
"The big banks have no interest in looking at this. There's just not enough there to put their entire business at risk." Micah Willibrand, an executive at the banking compliance firm Accuity
Related article:
Image: Fotolia
On a lawsuit the advocacy group Better Markets filed to block JPMorgan's (JPM) $13 billion settlement with federal regulators:
"This lawsuit has almost zero chance of success. It's a better press release than a lawsuit." Samuel Buell, a professor at Duke University School of Law
Related article:
Image: Fotolia
