Magazine article American Banker

FEEDBACK: Stand Up for Your Profession, Bankers

Magazine article American Banker

FEEDBACK: Stand Up for Your Profession, Bankers

Article excerpt

Byline: Richard Davis

American Banker is an invaluable daily compilation of news and opinions about our industry and one I've come to enjoy and depend upon through the years. I was especially interested in the Analyst Roundtable discussion in the May 31 issue.

A sidebar headlined "Be a Banker? Perish the Thought" supported the continuing rhetoric that banking is not an admirable profession. We are long overdue for a defense of this important and vital vocation.

Perish the thought that intelligent, hardworking, decent men and women turn away from banking as a satisfying and meaningful career. There's no better time than right now for young people (or anyone) to come into this industry and be on the forefront of historic change - a monumental attempt to make the global financial industry a more stable, profitable, and an appropriately risk-managed force for economic development, open commerce, technological advances and individual success.

Ongoing and repeated negative sentiment about the banking profession perpetuates the inaccurate beliefs that cause far too many to question our role as trusted advisers and honest brokers in Americans' lives. It is well known that a) citizens feel poorly toward the banking "industry," b) feel more positively toward their bank, and c) actually like and respect their banker. If we can create the confidence that bankers are great partners we can "begin" the long journey to rebuild the reputation of this critical partnership.

Let's be clear: Banking is so much more than complicated, provocative and confusing financial products. According to American Banker, at yearend 2010 well over 2 million people were employed by the many banking companies in the United States.

Two million people who approve small-business loans, make investments in alternative energy companies, help corporations expand and create new jobs, volunteer in their communities and make it possible to build affordable housing for seniors. …

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