Academic journal article ABA Banking Journal

Banking: It's More Than Just a Job

Academic journal article ABA Banking Journal

Banking: It's More Than Just a Job

Article excerpt

The United States has the most diverse and resilient economy in the world. This economy requires the most diverse and resilient banking system in the world. Banks of all sizes, charters, business models, and geographies are needed to ensure that we not only survive, but thrive in an ever-shrinking world. I'm very capable of loaning money to the pharmacy across the street or the car dealership down the road, but it takes a larger, more complex bank to handle the financial needs of the pharmaceutical or automobile industries.

We need to recognize the importance of a united industry and work toward that goal. Strength comes with unity. Does anyone believe that our industry's lack of unity was not a problem in the passage of the Dodd-Frank Act?

All too often, we use labels to describe people and things: Republicans and Democrats, men and women, Huskers and Sooners, large banks and community banks. Labels have a way of putting things into categories and emphasizing our differences, rather than embracing our areas of commonality, I'm convinced that as bankers, regardless of bank size or the initials of your association, we have a great deal more in common than we have as differences. But, if we continue to emphasize our differences, we will continue to have difficulty influencing policy makers in Washington.

Banking is not a one-dimensional or even two-dimensional industry. We need a flexible, graduated regulatory system that takes into account the range of size, charters, and business models. …

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