A Quote by Henry Paulson
Non-bank financial institutions provide credit that is essential to U.S. businesses and consumers.
Quote Topics
Quote Author
Related Quotes
North Carolina is home to some of the largest financial institutions in the country, and a vibrant network of community banks. We're a banking state, and we're proud of that distinction. But we also understand that responsible financial regulation protects consumers and businesses.
Credit markets were originally created to serve human needs; to provide businesses and individuals with capital to start or expand businesses or fulfill other financial needs.
Many small businesses rely on small financial institutions, like credit unions and community banks, to meet their capital requirements. Without them, these small businesses would have to close their doors.
Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.
The minute a Wall Street firm purchases your debt, your bank no longer has it on its financial statement, which then allows the bank to look for more credit card customers. That's one reason why you get so many credit card offers.
A person's credit report is one of the most important tools consumers can use to maintain their financial security and credit rating, but for so long many did not know how to obtain one, or what to do with the information it provided.
It is imperative that we make consumers more aware of the long-term effects of their financial decisions, particularly in managing their credit card debt, so that they can avoid financial pitfalls that may lead to bankruptcy.
I don't want to pick on Deutsche Bank, but I think the world of the regulated financial conglomerate, it is a strange thing. There is nothing in common between writing checks and running branch offices, issuing credit cards - those are good businesses, but they really have zero in common with M&A advice. They're a different customer.
Social security, bank account, and credit card numbers aren't just data. In the wrong hands they can wipe out someone's life savings, wreck their credit and cause financial ruin.
The subprime disaster was a result of financial bombs - derivatives - exploding in financial institutions such as AIG and Lehman Brothers, as well as banks and financial institutions throughout the world.
Now between '45 and '48, things would change enormously, 'cos we'd had credit in United States, credit from the Bank of America, credit from the Import-Export Bank and people had started working again.
Bank should be healthy and robust system should be there to lend more, more credit should be available and that can only happen with the financial health of the bank being right.
Starting in late 2007, faced with acute financial market distress, the Federal Reserve created programs to keep credit flowing to households and businesses. The loans extended under those programs helped stabilize the financial system.
Robert M. Morgenthau, the Manhattan district attorney, has seen a few financial schemes in his time. As the lead local prosecutor in the world's financial capital, he has battled frauds like the Bank of Credit and Commerce International, which stole billions of dollars from investors worldwide.
There are hundreds of millions of people around the globe who could safely repay loans but nonetheless do not have access to a line of credit. Financial institutions in developing economies are broken and inefficient, and hard-working people have not been given the chance to establish a credit history.
Before the CFPB, there was no single agency or entity within the federal government tasked with protecting Americans from predatory or negligent practices of banks, credit card companies, mortgage lenders, payday lenders, credit rating agencies and other financial service businesses.
Related Authors
Andrew Yang Quotes
American
Public Servant
Ben Bernanke Quotes
American
Public Servant
David Frum Quotes
American
Public Servant
Elizabeth Warren Quotes
American
Public Servant
James Comey Quotes
American
Public Servant
Janet Reno Quotes
American
Public Servant
Janet Yellen Quotes
American
Public Servant
Karren Brady Quotes
British
Public Servant
Michael Hayden Quotes
American
Public Servant
Mohammed Saeed al-Sahaf Quotes
Iraqi
Public Servant
Paula White Quotes
American
Public Servant
Samantha Power Quotes
Irish
Public Servant
Scott Gottlieb Quotes
American
Public Servant
Steve Bannon Quotes
American
Public Servant
Vivek Murthy Quotes
American
Public Servant
Wendy Kopp Quotes
American
Public Servant