'You're Either a Buyer or a Seller': Week's Best Quotes
December 10, 2013 10:57 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 a bill before the House financial institutions subcommittee that would reduce overlapping bank regulations:
"We've seen some bad legislation in this committee
but this is a doozey."
Rep. Stephen Lynch, D-Mass.
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(Image: Thinkstock)
On providing banking services to marijuana dispensaries:
"We have banks that would gladly bank these businesses. And we have others that say even if it was perfectly legal, they'd never touch it."
Don Childears, president of the Colorado Bankers Association
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On the need for banks to plan for rules, including those involving liquidity requirements and propriety-trading limits, before they're finalized:
"The financial institutions are dealing in three- or four-dimensional chess."
Bank of New York Mellon (BK) Chief Executive Gerald Hassell
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(Image: Bloomberg News)
On the need for community banks to grow to stay competitive:
"You're either a buyer or a seller."
Anton Schutz, chief executive of the investment firm Mendon Capital Advisors
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On increasing market share without making acquisitions:
"The largest institutions are the gift that keeps on giving. Our new clients walk in saying, 'Please get us out of the bank we're in.'"
Frank Sorrentino, chief executive of ConnectOne Bank (CNOB)
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On recent discrimination cases filed by National Fair Housing Alliance against Bank of America (BAC) and U.S. Bancorp (USB):
"[W]e wouldn't file a complaint against someone who doesn't have liability."
Shanna Smith, president of the National Fair Housing Alliance
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On so-called patent trolls, who threaten to file infringement lawsuits against targets who refuse to pay them fees:
"They just blanket the banks, they don't do any research - they just scare you and hope you pay it."
John Buhrmaster, president of 1st National Bank of Scotia, N.Y.
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On the proposed merger of Plano, Texas banks ViewPoint Financial (VPFG) and LegacyTexas Group:
"One of the things we rallied behind was the ability to bring Texas banking back to Texas. We've lost it to New York and Birmingham."
Kevin Hanigan, the chief executive of ViewPoint
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On the push to build a faster payments network:
"There's a lot that the industry as a whole needs to be investing in. We need to make sure that improving the payments system has a reason to get to the top of that list."
Steve Ledford, senior vice president of product and strategy at The Clearing House
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