Jeff W. Dick is a former national bank examiner with the Office of the Comptroller of the Currency. He was also an adviser to the Bank of England in a project to modernize its risk-based approach to banking supervision. He is currently the chairman and CEO of MainStreet Bank, a $644 million-asset community bank in Northern Virginia.
How most banks obtain deposits has changed radically over the past 30 years, thanks in part to innovation. It is time for regulators to rethink their notion of what constitutes a quality deposit portfolio.