The Week's Best Quotes: Saving a Thrift, CFPB's Balloon Loans, NetSpend's Deal

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. (Image: Fotolia)

On a former Mormon bishop who laundered money through a bank that took Tarp funds: On a former Mormon bishop who laundered money through a bank that took Tarp funds: "Taxpayers did not bail out banks so others could launder proceeds of crimes through them."

- Special Inspector General for Tarp Christy Romero

Related Article: Former Bishop Pleads Guilty to Tarp Fraud

(Image: Bloomberg News)
Bank investor Ken Lehman on why he doesn't want to start a fund: Bank investor Ken Lehman on why he doesn't want to start a fund: "At the end of the day, I like having to answer only to my wife and my 12-year-old rather than to other investors who maybe aren't as patient with me."

Related Article: Virginia Investor Places Big Bets on Small Banks
Discussing the challenges of saving a thrift in poor financial shape: Discussing the challenges of saving a thrift in poor financial shape: "We are a regulatory success story…I began in June 2005 and the place was not in good shape. Had I been hired two years later, this probably would have been a liquidation. Moving early in the cycle really saved the bank."

- Thomas Petro, president and CEO of Fox Chase Bancorp

Related Article: Fox Chase CEO: Tough Love Saved Our Struggling Thrift
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On why KeyCorp should either expand or contract its far-flung branch network: On why KeyCorp should either expand or contract its far-flung branch network: "It doesn't help to be number nine on the deposit market lists."

- Mark Palmer, research analyst at institutional brokerage BTIG

Related Article: What's Next on KeyCorp's Agenda After Investment-Unit Sale?
On why recent cyberattacks on Facebook and Twitter are a bad omen for banks: On why recent cyberattacks on Facebook and Twitter are a bad omen for banks: "Large fintech providers aren't necessarily doing a better job in physically coding and securing authorization than many of the social sites… I'm actually amazed we don't have more breaches that involve account data."

- Bradley Leimer, digital-strategy leader at Mechanics Bank

Related Article: The One Thing Banks Should Never Do on Facebook and Twitter

(Image: Thinkstock)
Why prepaid-card issuer NetSpend fetched $1.4 billion in a sale to TSYS: Why prepaid-card issuer NetSpend fetched $1.4 billion in a sale to TSYS: "Prepaid is the new checking. I suspect that a fairly large number of banks are now wondering, 'Should we also get into prepaid?'"

- Patrice Peyret, chief executive of prepaid service provider Plastyc

Related Article: NetSpend Deal Affirms Prepaid's Might
Why the CFPB's new rules restricting 'balloon loans' don't need to apply to community banks: Why the CFPB's new rules restricting 'balloon loans' don't need to apply to community banks: "Community banks are not going to put a borrower into a property they can't afford."

- Ron Haynie, vice president of mortgage finance policy at the Independent Community Bankers of America

Related Article: Community Banks Alarmed by CFPB's View on Balloon Loans
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One why the CFPB's proposal to encourage student-loan modification doesn't go far enough: One why the CFPB's proposal to encourage student-loan modification doesn't go far enough: "If we're just talking about private loans, that's not going to save the market."

- Michael Tarkan, an analyst at Compass Point Research & Trading

Related Article: Why CFPB's Plan to Help Students May Have Narrow Impact

(Image: Fotolia)
On what George Washington would do if he were president: On what George Washington would do if he were president: "He would reform Dodd-Frank and reject Basel III."

- Frank Keating, CEO of the American Bankers Association

Related Article: ABA Chief Keating Pens Children's Book on First Commander in Chief
Explaining why more community banks are offering preferred shares: Explaining why more community banks are offering preferred shares: "It's hard to find yield…so it's a good time to issue instruments that have yield on them."

- Jones Day partner Chip MacDonald

Related Article: Preferred Stock Gaining Traction at Smaller Banks

(Image: Thinkstock)

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.

Comments (1)
An odd quote, because TARP had nothing to do with the fraud.
Posted by WayneAbernathy | Tuesday, February 26 2013 at 2:15PM ET
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