LINCOLN, Neb. - The speed with which changes in the banking industry are taking place is more significant than the change itself, Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, told members of the Nebraska Independent Bankers Association last week.
At the group's annual meeting here, Mr. Hoenig told the bankers that the speed of change creates an environment of uncertainties for bankers. But at the same time. he said, these changes also provide opportunities to those who react and adjust to the rapidly changing environment.
Mr. Hoenig said that the country needs to look at the regulatory burden on banks as opposed to other players in an increasingly competitive environment. He said all players should be subject to the same kinds of constraints.