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Last Week in Words

June 20, 2010, 3:50 p.m. EDT 1 Min Read

MONDAY
"If you put the Fed on the board in any form — be it the Fed chairman in one bill or the head of the consumer protection agency in another, you have both the Fed and the Treasury on the board. … I don't think their first thoughts would be about building and strengthening the deposit insurance system. It would be a terrible mistake."

— Kenneth Guenther, former head of the ICBA, on which agency should replace the OTS on the board of the FDIC. TUESDAY
" They paid a price for it in the short run because they were perceived as suffering more than others. But they also feel like they are going to be rewarded for it because they're going to come out of this faster."

— William Isaac, the new chairman at Fifth Third, on how the bank managed the recession. WEDNESDAY
"It could wipe out $1 million to $2 million."

— Bill Massey of Saltmarsh, Cleaveland & Gund, noting that a community bank can't count as capital a tax refund for charging off bad loans if the IRS denies the refund. THURSDAY
"This is much more about the strategic relationship between Wal-Mart and Green Dot than it is about any backdoor way of getting into banking. … This is just a way of aligning incentives and creating value by bringing a lot to the table."

— John Grund of First Annapolis Consulting, commenting on the significance — or lack thereof — of the prepaid card provider's issuance of stock to the giant retailer. FRIDAY
" The pink one, the ladies in the bank were just kind of squealing over this."

— Earl Bradley, CEO at Tennessee's First Federal Savings Bank, on how he came to issue contactless payment stickers in certain fashionable colors to encourage usage.
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