David Barr Quotations

We strongly disagree with the ruling. It's not supported by the facts of the case.

One that went out in January was fishing for personal financial information. One earlier this month spread a computer virus.

Historically, over the past 10 to 12 years, depositors with excess of $100,000 received 72 cents on the dollar.

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.

It is likely we will issue rules this year, but we don't have a precise timetable.

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.

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.

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.

We disagree with the opinion and don't think it was supported by the facts, which is the main reason why we appealed.

There has been quite a bit of interest and that's why we want to hold these hearings.

We're not overly concerned. There is still time for them to get their houses together and we are monitoring them closely.

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.

We've received 1,150 comments. Usually, if there are more than a half-dozen comments, that is high.

too early to have any estimates of the financial loss to banks.

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.

The risk assessments provide bankers with more flexibility to tailor security measures to better safeguard their customers . . . than would a mandate from regulators,

The bottom line is we just voted to cut $2 million out of our budget, yet we're going to hold on to a May election. It comes down to cost.

Your deposits will remain insured up to $100,000 even after the date change. But once you withdraw it, it's yours.

This is a way of ensuring that inflation will no longer chip away at the amount of deposit insurance coverage.

They've got a good cushion of capital there.

It's really hard to gauge timing. A lot depends on what negotiations might have to be made and whether we need more information from the applicant.

It's up to the individual banks as to when they ratchet those (relief measures) down. Some are starting to cut back a little.

The benefit is if you have inflation, the deposit insurance limit will not be eroded and keep up. And if you have periods of relatively low inflation, that low inflation wouldn't be eroding or eating away at the insurance limit.

It literally failed overnight from fraud. Half the assets were completely gone. A lot of retirees lost their money.

The industry is making very good progress. The number of institutions (whose readiness) is unsatisfactory continues to decline.

And David Barnes played a very good innings. He has been a terrific signing for us and has been very consistent all year as well as being a positive influence to the team.