The Holding Companies' Man on the Hill; Donald Rogers, President of Association of BHCs for 25 Years, Is Known for Political Savvy - but Even He Couldn't Unify Banks

By Kahn, Ephraim | American Banker, March 26, 1984 | Go to article overview

The Holding Companies' Man on the Hill; Donald Rogers, President of Association of BHCs for 25 Years, Is Known for Political Savvy - but Even He Couldn't Unify Banks


Kahn, Ephraim, American Banker


WASHINGTON -- Bank holding companies. The very words evoke an image of powerful corporations on the cutting edge of industry change.

In fact, much of the banking legislation currently under consideration on Capitol Hill deals with what bank holding companies should or should not be allowed to do. And right in the middle of the legislative process is Donald L. Rogers, president of the Association of bank Holding Companies.

Interviewed in the association's offices near the Treasury Department, one block from the White House, Mr. Rogers reflected on his 30 years in Washington and expressed his views on some aspects of banking's relations with Congress this year and next, when lawmakers are expected consider issues of vital importance to the industry.

Mr. Rogers, 56, is a tall, soft-spoken man whose down-home manner belies his reputation as one of Washington's shrewdest political analysts. He came to the nation's capital in 1953 fresh out of law school and went to work for the Senate Banking Committee.

He rose to the position of committee counsel and worked on the Bank Holding Company Act of 1956 -- a project that introduced him to many bankers. Two years later, he was invited to head a new trade group for bank holding companies. Same Chief, Different Group

Mr. Rogers is still holding the job, although the association has changed. Starting with 13 bank holding companies with about $13 billion in assets, the group now has 180 member holding companies with $1.3 trillion in assets. That's about 75% of U.S. banking assets.

The association's opinion is highly regarded on Capitol Hill because of its membership and its president's political savvy. But even Mr. Rogers could not help forge a united banking stance in 1982, a division that he says still haunts the industry.

"The banking community's two years behind where it should be. Banking should have gotten new powers as part of the Garn-St Germain Act of 1982."

At that time, Mr. Rogers observed, "The thrift industry was in serious trouble. Congress had to do something to bail it out, and that was the opportunity for banks to say, 'Fine, let's help the thrifts, but let's give something to banking.'"

But "the banking community dropped the ball," he said. The industry didn't make its points "partly because banking was not united. We didn't stand firm enough and missed an opportunity.

"And here we are, two years later, still making the same arguments about underwriting revenue bonds, being in insurance, being in the mutual funds business, and being in real estate." Meantime, Mr. Rogers added, "our competitors have made great strides."

Mr. Rogers believes that in January 1983, banking should have started making congressional leaders live up to their promises of early action on measures to expand the scope and powers of banks. Instead, "the fact that the banking industry got involved in this tremendous battle over withholding meant there was no time left to take up new powers and services for banks."

Although the 1984 session may be shortened by elections, Mr. Rogers believes it is nevertheless crucial for banking to pull out all the stops in an effort to obtain the additional powers that banks need to compete in the marketplace this year.

Banking "must make an all-out effort to try to catch up. We can't afford to delay any longer.

"But it's going to be difficult," he added, because "we don't have that vehicle, and members of Congress don't perceive any crisis of emergency that makes them feel they have to act. In banking legislation, it has usually taken that kind of atmosphere to get anything done."

Regardless of what happens in 1984, Mr. Rogers believes "1985 is going to be the year when interstate banking will be the big issue in Congress. The fact that states are moving on their own will finally make Congress face up to the issue. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

The Holding Companies' Man on the Hill; Donald Rogers, President of Association of BHCs for 25 Years, Is Known for Political Savvy - but Even He Couldn't Unify Banks
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.