David Barr
David Barr
early estimates financial loss
too early to have any estimates of the financial loss to banks.
bit hold interest quite
There has been quite a bit of interest and that's why we want to hold these hearings.
houses overly time together
We're not overly concerned. There is still time for them to get their houses together and we are monitoring them closely.
behind decision delay hearing hold needs scenes
We don't think that this will delay a decision on the application. There's still a lot that needs to be done behind the scenes on the application. While we're doing that, we can hold a hearing simultaneously.
appreciation both chairman extend hard secretary work
We will need to find a new chairman and secretary and I would like to extend my appreciation to both of them for all their hard work over the years.
received
We've received 1,150 comments. Usually, if there are more than a half-dozen comments, that is high.
computer earlier financial fishing january month personal spread
One that went out in January was fishing for personal financial information. One earlier this month spread a computer virus.
issue likely precise rules
It is likely we will issue rules this year, but we don't have a precise timetable.
cents excess past received
Historically, over the past 10 to 12 years, depositors with excess of $100,000 received 72 cents on the dollar.
balance criminals ease people separating
We have to balance the ease and convenience with security. If we don't do anything, criminals will become more sophisticated in separating people and their money.
disagree facts strongly supported
We strongly disagree with the ruling. It's not supported by the facts of the case.
banks based expect extra layer perform provide risk security
We expect banks to perform a risk analysis, and, based on that risk analysis, provide an extra layer of security by the end of the year.
change coverage failures individual money past people per retirement suffered
We have had some failures in the past where people have had considerable amounts of money in individual retirement accounts. They've suffered significant losses. But that coverage will go up to $250,000 per person when we change this rule.
applied bank comment criteria gotten industrial letters majority open popularity single target witnesses
When Target applied to open its industrial bank in 2004, we didn't get a single comment from the public. We've gotten 4, 000 letters and witnesses for the Wal-Mart application. The majority are negative. But popularity is not a criteria for an industrial bank.