Academic journal article ABA Banking Journal

"Susan, We're Not in Nebraska Anymore"

Academic journal article ABA Banking Journal

"Susan, We're Not in Nebraska Anymore"

Article excerpt

Recently, I had the opportunity to participate in the International Monetary Conference held this year in Shanghai, China. This annual event gives leaders from the world's largest international banks an opportunity to sit together and discuss the challenges facing our global financial market.

As a farm boy from Nebraska running a $120 million-assets community bank, I was far from the norm. My thought from the beginning was to sit back and observe, but the bankers from around the world were very interested in the issues facing community banks in the United States. It was obvious from the start that the issues facing global banks are no different than the issues we face. Regulation, Basel III, cybersecurity, mortgage rules, and the payments system top the list. It's the same list we talk about in Nebraska. It's the same list every banker is thinking about regardless of his or her bank's size.

With all the challenges, some of the bankers shared concerns about the future. I was interested in the view shared by Jamie Dimon, chairman and CEO of JPMorgan Chase, and John Stumpf, chairman, president, and CEO of Wells Fargo. These two banks are large by U.S. standards, but not when compared to some others in the world. Both Jamie and John were very positive about the future. They pointed out that the world's economy depends on banks making loans, which create economic activity and growth. Their remarks made me proud and clearly demonstrated their strong leadership.

Also, I was proud to learn that IMC planning, logistics, and corporate governance were all handled by ABA. …

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