City Banker Has Vision for Industry Reform
Titus, Nancy Raiden, THE JOURNAL RECORD
Journal Record Staff Reporter
The forward-thinking banking philo-
sophy of Oklahoma City's Jim Daniel
has moved him beyond the bounds of his
southside bank to direct a national
bankers' trade group that is pushing for
comprehensive industry reform.
Daniel's vision of banking in the
future is an industry able to meet the
financial needs of customers unencum-
bered by restrictions on the types of
financial products offered. He wants to
see banks providing complete financial
planning services, including selling
insurance, annuities, mutual funds and
"I don't know if our bank would do
all that, but we ought to have the right to
do it. We ought to be free to do it."
Daniel is chairman of the Consumer
Bankers Association, an organization
that represents 800 banks and thrifts.
Last month, he testified before the U.S.
Senate Banking Committee on the need
for comprehensive industry reform.
He also is president of Friendly Bank
of Oklahoma City, located at 7400 S.
Pennsylvania Ave. The bank has&
received national recognition for its sales
and training programs and was listed as
one of the top 10 sales banks in the
country in a 1985 research book on the
Daniel is a native of Oklahoma City
and is a member of the first class to go
all the way through Northwest Classen
High School. He received his bachelor's
degree in economics and finance from
Baylor University and is a graduate of
the Southwestern Graduate School of
Banking at Southern Methodist Univer-
Daniel has been active with the
Consumer Bankers Association for sev-
eral years. His one-year term as its
chairman expires in September.
"We have a real strong lobbying
group which is active with Congress,"
Daniel said of the organization. "We
have helped with critical issues such as
credit card disclosure, student lending
and home equity lending. We lobby on
behalf of retail banks. We are very well
Daniel said his involvement with the
association has given Friendly the
benefit of the experience of fellow
members who are experts in the areas
where the Oklahoma City bank has
expanded. One such case was the
development of Friendly's indirect auto
program, in which the bank buys auto
loan paper from dealers and acts as the
servicing agent. The bank has about $35
million in this type of business.
"The economy slowed down in 1983,
'84, '85, and it was difficult to get
borrowers," Daniel said. "So we began
to buy auto contracts from the dealers.
When we started this program, we were
able to contact people in CBA who were
national players in the market. We were
educated in a hurry. We got a short
course to do it right.
"It was the same with our credit
cards. We sat at a table at a convention
with five of the top credit card managers
in the country. We can call people
through CBA. This communication
helped in establishing our credit card
Daniel said visits to member banks
and branches also have been extremely
helpful in the development of new
services at Friendly.
Daniel said banks in general are
becoming more retail oriented as they
search for new sources of revenue in part
to counter the increases in the Federal
Deposit Insurance Corp. premiums,
which have gone up 500 percent since
"The loan business is soft. More and
more banks are looking at the retail
side," he said.
This is where Consumer Bankers
Association comes in. Of all the trade
organizations for bankers, Daniel said
the association has a sharper focus
because it emphasizes one aspect of
banking _ how it affects the customer.
The national bankers organization has
been urging Congress to modernize the
banking laws to allow banks to compete
in the financial services market since
1983, Daniel said.
"In addition to competing with each
other, banks are competing with Sears,
GM, AT&T. …