Chris Bjorklund: Hello, I’m Chris Bjorklund for the Virtual Business Center. Today I’m talking with Ed Lette, chairman and CEO of the Business Bank of Texas. Lots of national news sources, Ed, are saying that banks all over the country are simply not lending money. They’re not making loans. Is this really true?
Satirical newspaper, The Onion, recently had a bit of fun with the banking industry and its response to sweeping regulatory changes taking effect this year. In the short “infographic,” The Onion detailed new fees planned by industry big boys, the so-called “systemically important” institutions by the Dodd-Frank Act (more on that in a moment).
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As a banker for over 45 years, I think I understand risk. In the case of my industry, I face many different kinds of risk on a daily basis. I am the founder and CEO of an Austin based bank that does business throughout Texas.
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In my 45 years of banking I have always believed that business owners, CFOs and operations personnel who participate in continuing education are far more likely to have high performing companies than those who don’t.