The Week's Best Quotes: Warren and the CFPB, OCC Overhaul, and More
February 5, 2013 8:00 AM
The most memorable 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. (Image: Fotolia)
In an email by Michael Brosnan to his staff, announcing his resignation from the Office of the Comptroller of the Currency:
"I've been here for most of my life because the roles and family of the agency have made it easy to look forward to each and every day. I am now in the unfamiliar and uncomfortable realm where it isn't fun any longer."OCC Senior Leadership Gets Another Surprise Overhaul
- Michael Brosnan, the OCC's former senior deputy comptroller of large banks
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On why Sen. Elizabeth Warren is in the perfect position to cut a deal with Republicans altering the structure of the Consumer Financial Protection Bureau:
"She can do what she wants on CFPB and the left can't criticize her. It's a 'only Nixon can go to China' kind of thing."How Elizabeth Warren Can Save the CFPB (Image: Bloomberg News)
- Mark Calabria, director of financial regulation studies at the Cato Institute and a former Republican Senate aide
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On why changes to the mortgage industry were needed in the aftermath of the financial crisis:
"At that moment in time it was very difficult to escape the conclusion that the residential mortgage business in the U.S. had managed to do almost everything wrong."CFPB's Date Defends QM, Talks 'Stressful' Deadlines (Image: Bloomberg News)
- Raj Date, the CFPB's outgoing deputy director
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James Abbott discussing his recent recognition as being the best investor-relations manager among mid-cap banks, and what motivates him:
"I enjoy the complexity and I like working. I am terrible at golf."The Secrets of Zions' Award-Winning Investor Relations Chief
- James Abbott, senior vice president of investor relations at Zions Bancorp.
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On what 2013 promises for banks:
"The economy will remain somewhat soft, and Zions will slog through it like any other bank."The Silver Lining on Zions' Big Charge (Image: Thinkstock)
- Paul Miller, an analyst with FBR Capital Markets
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On the challenges community banks face in 2013:
"It's a pretty good storm, maybe not a perfect storm. I just don't see a lot of upside. Generally there is a sense that markets are improving across the country, but that's not translating into a lot of new loan growth."Small Banks' 4Q Results Portend Uphill Climb in '13 (Image: Thinkstock)
- Randy Dennis, president of DD&F Consulting Group
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On why online merchants are looking for alternatives to PayPal:
"PayPal is like a walled garden. It's more like the early days of the Internet, when somebody on AOL could talk to somebody on AOL but not somebody on Prodigy."PayPal's File-Sharing Restrictions Drive Merchants to Rivals .(Image: Thinkstock)
- Anthony Gallippi, founder of bitcoin payment-processor BitPay
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On why credit card criminals are targeting the United States:
"We're the weakest link around the world."Fraud Losses Increase as U.S Lags on EMV Chips (Image: Thinkstock)
- Sanjay Sakhrani, a card industry analyst at Keefe, Bruyette & Wood
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On why Bank of the Ozarks will keep its name as it expands geographically:
"People care about the quality of the service, the quality of products - so if we've got great products and great service nobody really cares about the name on the bank."Why M&A-Minded Bank of the Ozarks Will Keep Its Name
- Bank of the Ozarks Chairman and CEO George Gleason
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On what it takes for a regional bank to survive in today's environment:
"My whole life in banking my philosophy has been 'stick to your markets.'" But these days, "a regional bank can't just stick to its region because there's not enough loan demand."TCF Bets Big on National Lending Strategy
- TCF Financial Chairman and CEO William Cooper
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On loan and pricing competition in New Jersey:
"It's very, very intense. We fight for every deal…but we will not compromise on credit. We spent a year cleaning up our balance sheet and cutting out nonperforming loans from 9% [of total loans] to 2%. We will not let that happen again."Suffolk Bancorp's Mr. Fix-It Shares His Turnaround Tips
- Suffolk Bancorp CEO Howard Bluver
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On why New Jersey will see more bank consolidation:
"I think there are more banks here per square feet than most other states. You've got a lot of people struggling under the weight of the economy and are finding it tough to bring in capital."Size Plays Leading Role in Somerset Hills' Decision to Sell
- Somerset Hills Bancorp president and CEO Stewart McClure
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Sandra Pierce, FirstMerit's vice chairman, on why she was fortunate to grow up poor in Detroit:
"I was lucky in the birth order. Being poor and having great grades allowed me to go to college."Detroit Banker Sandra Pierce Tries to Save Her Hometown
- FirstMerit Corp Vice Chairman Sandra Pierce
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