Strong reported bank profits show that “people are out there interested in borrowing money and building a business,” ABA President and CEO Frank Keating said in an interview on Bloomberg TV’s “Bloomberg Surveillance” program. “That’s what banking is all about.”
One headwind that Keating emphasized is an excessive regulatory burden on community banks. Responding to co-host Adam Johnson’s query about whether the additional regulatory burden is “good for consumers,” Keating emphasized that banks have always been regulated, but that “regulation has to be balanced and it has to be nuanced. It has to encourage the bank to do what it’s supposed to do.”
Watch the interview.