Although I have never worked in a community bank, I have been a customer, and I know from personal experience the special skills that these institutions bring to their customers.
I'm all in favor of banks that play their part in community endeavors, private individuals looking for loans, people who want to start up a little business, and that's what banks are for.
I mean, Dodd-Frank is strangling small community banks. It doesn't make any difference what the interest rate is. They're not - they're not going to loan the money because they can't make any money for one thing plus the cost of compliance.
Country banks are more flexible in their lending policies than their city brethren are.
My colleagues on the Board of Governors and I understand the value of having a diverse financial system that includes a large and vibrant contingent of community banks.
I don't think my wheelhouse is comfortable in Wall Street. My wheelhouse is small-town America.
Everyone needs a small-town banker. Especially in a big town.
The truth is that the banks that are really hurting under Dodd-Frank, really getting no relief, are the community banks.
