'Like All Great Ideas, We Steal Them': The Week's Best Quotes
August 6, 2013 8:41 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.
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On the intense competition among community banks for the best loans:
"It's really like a bunch of starving rats going after the one piece of bread."
Paul Schaus, president and chief executive of CCG Catalyst Consulting Group
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(Image: Thinkstock)
On the one-size-fits-all pricing of small-dollar loans:
"The only thing on the menu is a two-week loan or a four-week loan. And you can have it at any price you deserve, just as long as it is the absolute maximum permitted by state law."
Raj Date, an industry consultant and the former deputy director of the Consumer Financial Protection Bureau
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(Image: Bloomberg News)
On where MBF Industries got the idea for a mobile bank module:
"Like all great ideas, we steal them."
John Baker, president, MBF Industries Inc.
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On how banks have taken advantage of the housing rebound to sell seized homes:
"For a bank, you've probably sold most of your REOs in California and Nevada by now. It's gone, or it should be."
Christopher Whalen, managing director and executive vice president of Carrington Holding
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On why banks are shedding peripheral lines of business and returning to traditional lending:
"You can't afford to be the fifth-largest anymore."
Patricia Jackson, banking expert at consulting firm EY
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On how banks are adapting to a slowdown in refinancings:
"During the refi boom, you couldn't make a mistake. Now the trick is being intelligent about how you take it back down."
Joseph MarcAurele, the chairman and chief executive of Washington Trust Bancorp (WASH) in Westerly, R.I.
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On why CenterState Banks (CSFL) agreed to buy a healthy bank after a string of failed-bank deals and shared-risk transactions:
"Real estate values are trending in the right direction and that gives us more confidence to do a healthy-bank deal."
John Corbett, CEO of CenterState
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On Synovus' (SNV) exit from the Troubled Asset Relief Program:
"At the end of the day, we paid back a loan that we owed money on. We expect the same of our customers every day."
Kessel Stelling, chairman and CEO of Synovus Financial
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On supporting the Consumer Financial Protection Bureau's punishment of a Utah lender for failing to comply with new loan officer pay rules:
"For those of us that have painstakingly spent time and money to do things right, it's refreshing to know they now have teeth and are policing the industry."
David Zugheri, an executive vice president and co-founder at Envoy Mortgage, a Houston mortgage lender
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On a federal district court's ruling that the Federal Reserve set too high a cap on how much merchants pay banks for debit card transactions:
"I think it's fair to say that the merchant community is ecstatic."
Mallory Duncan, general counsel for the National Retail Federation, a merchant trade group
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On why HomeStreet (HMST), a mortgage lender, decided to buy two small banks with expertise in business lending:
"We are trying to balance the business by growing our traditional commercial business lines."
Mark Mason, CEO of HomeStreet
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