'The Hypocrisy At This Agency Is Shocking': Week's Best Quotes
March 11, 2014 2:04 PM
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 evidence of racial disparity in the Consumer Financial Protection Bureau's ratings of its own employees:
"The level of hypocrisy at this agency is shocking. If it was a lender and had similar statistics, it would be written up, immediately referred to the Justice Department, sued and publicly shamed."
a current CFPB employee, speaking on condition of anonymity
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On how community banks can improve relations with their regulators:
"Only pick a fight where you need to pick a fight. Let the regulators have some wins."
Bob Browne, director in McGladrey's Performance Improvement Consulting division
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On the need to use multiple resources to determine a business' creditworthiness:
"Sometimes people think we do a $250,000 loan off a Yelp review. We would not be here today if we did."
Noah Breslow, CEO of OnDeck
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On Park Sterling's (PSTB) fast growth over the past several years:
"We had a 44-inch suit but had a 38-inch chest. We are maybe a 42 now."
James Cherry, CEO of Park Sterling
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On a bill presented by House Republicans that would delay implementation of new mortgage-servicing rules for small banks:
"It's a proposed gift to community banks in an election year."
Isaac Boltansky, a policy analyst at Compass Point Research and Trading
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Cecilia 'Cece' Stewart, Citibank's (NYSE:C) president of U.S. consumer and commercial, on her plans after retiring:
"The next place you're going to see me is in the competitive show ring on my horses."
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On the need for bank consolidation:
"Between our offices and the shopping center on the other side of town there were 15 banks. We've competed against each other for years, but I think we've got to get these banks together."
Robin Cummings, CEO of Peoples Bank of Alabama in Cullman
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On banks' need to improve their web sites, ATMs and mobile apps:
"We feel the pressure not just from other banks but from other industries."
Jim Simpson, senior vice president and chief technology officer at City Bank in Lubbock, Texas
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On why the downgrade of Puerto Rico's credit rating will likely mean downgrades for the island's banks:
"We typically don't rate banks higher than the country they operate in."
Chris Wolfe, managing director of the bank group at Fitch Ratings
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