Week's Best Quotes: Booming Banks; Dimon Unplugged; Unbanked Dilemma

June 18, 2013 10:38 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.

(Image: Shutterstock)

On the Federal Housing Finance Agency hiring a force-placed insurance lobbyist Charles Landgraf to advise it on force-placed market reform:

"This is a broken market, full of kickbacks doing damage to both homeowners and investors. Seeing the FHFA bring in someone like [Landgraf] makes me very skeptical that the FHFA can do the right thing."

Ira Rheingold, one of several consumer advocates who spoke at the FHFA's closed-door meetings last week.

(Image: Fotolia)

JPMorgan Chase (JPM) boss Jamie Dimon, with renewed vigor, defending his bank's handling of the London Whale affair:

"There was no lying, there was no bull----ing, period."

Barry Sommers, new consumer bank CEO at JPMorgan Chase, on why he plans to move ahead with the bank's retail strategy as is:

"The plan was built by many people at this organization. I was part of that, I continue to execute on that plan ... and not put a stamp on anything for the sake of putting a stamp on something."

(Image: Bloomberg News)

Goldman Sachs (GS) CEO Lloyd Blankfein arguing that the federal government would let a big bank fail:

"Anybody who thinks there is a political will to rescue failing financial institutions is not reading the same papers I'm reading."

(Image: Bloomberg News)

On the ideal number of bank charters to maintain:

"There isn't a science to this. It's a fine balance of being able to deliver to the customers you serve, but by the same token, you have to treat shareholders fairly."

Craig Roda, senior executive vice president at Fulton Financial (FULT)

Newly appointed Hanmi Financial (HAFC) CEO C.G. Kum jokingly discussing his fluency in Korean:

"My verbal skills are probably adequate to maybe a little bit less than adequate. But I can speak. I can order food at restaurants."

On the millions of unbanked Americans who may have trouble paying for health care due to a provision in the Affordable Care Act that lets insurers refuse payments from debit and prepaid cards:

"It's an urgent issue but the insurers are in a pickle [I]f they eliminate the ability to take debit cards, they may exclude as many as one in four [eligible] Americans from getting health insurance."

Brian Haile, a senior vice president for health policy at Jackson Hewitt

(Image: Shutterstock)

On why nonbanks like Ocwen Financial (OCN) are expanding their subprime servicing portfolios as banks pull back:

"Someone like Ocwen is not ashamed to foreclose like some bank managements might be."

David Stephens, chief financial officer at United Capital Markets

(Image: Thinkstock)

Carl Chaney, co-CEO of Hancock Holding (HBHC), explaining the decision to move to New Orleans from Gulfport, Miss.:

"The Mississippi coast is very stable but there's not a lot growth. But when you look at southeast Louisiana boy, the market here is just exploding."

Related Article: Hancock Co-CEO Moves to New Orleans

On the of training of bank branch employees to be jacks of all trades:

"I want to move to a place where every employee can do a transaction, and every employee can open an account."

Andy Harmening, senior executive vice president at Bank of the West in San Francisco

(Image: Thinkstock)

On what it takes to get an M&A deal done these days:

"You just have to keep working at it."

G. William Beale, CEO of Union First Market Bankshares (UBSH)

On community banks' prospects for raising capital:

"Capital raising for community banks is getting better - but not easier,"

Lee Bradley, senior managing director of Community Capital Advisors

(Image: Shutterstock)

On the market's positive reaction to UnionFirst's planned merger with StellarOne (STEL), which suggests that investors are less concerned with stock dilution than with earnings potential:

"This could be the start of the market lightening up on the fear of tangible book value dilution."

Chris Marinac, FIG Partners

(Image: Shutterstock)