Slideshow 'You're Either a Buyer or a Seller': Week's Best Quotes

Published
  • December 10 2013, 10:57am EST
10 Images Total

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.

Related Article: Capito Pushes New Plan to Cut Inconsistent Bank Regs

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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

Related Article: Federal Banking Regulators Pressed to Act on Marijuana Businesses

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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

Related Article: Cybersecurity is Banks' Biggest Worry: BNY Mellon's Hassell

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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

Related Article: For Many Institutional Investors, All Banks Are Buyers or Seller

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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)

Related Article: For Many Institutional Investors, All Banks Are Buyers or Seller


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

Related Article: Housing Group Taps Dubious Data, HUD Ties to Demand Millions from Banks


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.

Related Article: Why Patent Reform Matters to Banks

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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

Related Article: Two Merging Banks See Dallas as Lone Star on Their Map


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

Related Article: Big Banks Ask 'What's the Rush?' on Faster Payments

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