Nick DiFrancesco : I want to talk about your decision within the Department of Banking, and to thank you for Glenn Moyer because he has just been terrific. I know he’s got some initiatives going on, and we’ve been thrilled to work with him. You made a good choice. He’s a good community banker and he really has his heart set in the right place, and he’s providing the industry with an alternative to a national climate that is a bit challenging. Other regulators are not so accommodating in terms of their vision to make sure that community banking continues to exist.
Governor Corbett: I think it’s so important, especially when you have a regulatory role, that you’ve participated directly in the industry, rather than always been a regulator. Because I have found that, when you’re talking about regulators, and the same goes for prosecutors, but when you’re talking about a regulator, if they haven’t had to be regulated, and understand what it means to be regulated, there’s no way that they can comprehend how they affect the growth of a business by their regulations in and of itself. If you’re looking at the Federal government under the current administration,
I think that’s a classic example. You look at the president and the people that sit around him, they have not been in the business sector.
By bringing Glenn in as my secretary of banking, he’d been there. He knew it. He knows what his role is as a regulator, and he can enforce the rules, but he can also sit down with his staff and say, ‘This is what’s going to happen if we do it this way, but if we do it this way, we’ll get the same effect, and we don’t hurt the business.’ We don’t want to hurt business. We don’t want business to hurt us, but we don’t want to hurt business either.
Read the full interview in December’s issue of Transactions Magazine. Aren’t a subscriber? Call PACB at 717-231-7447 to start receiving the magazine.