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July 24, 2013

Basel III Is a 'Big Positive' for Regional Banks: TCF's Cooper

William Cooper has had his share of run-ins with regulators over the years, but TCF Financial’s chairman and chief executive offers nothing but praise for the Basel Committee and the Consumer Financial Protection Bureau.

In a conference call with analysts Tuesday, Cooper lauded the Basel Committee on Banking Supervision for writing new capital rules that he believes will ultimately help the $18.3 billion-asset TCF (TCB) and other small and regional banks better compete against larger banks.

He also broke ranks with many of his fellow bankers in saying that he respects the work of the CFPB. In his view, the agency bankers love to hate has actually been sensitive to banks’ concerns when conducting examinations and establishing new rules and is not the “boogeyman” it has been made out to be.

The agency is “doing logical things and not the illogical things that people were afraid of,” Cooper said during the bank’s second-quarter earnings call.”

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Read full American Banker article here

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