A recent PRNewswire article chronicled an important meeting of high-ranking bank officials from the United States of America held in Dallas. One of the panelists was the CEO and president of NexBank Capital, Inc., John Holt. Topics for discussion included the re-invention of traditional banking after the past economic collapse of 2007-2008. Banks have been in shock for the past 7-10 years, and are hoping to return to normalcy again by focusing their attention on serving their customer base as important community providers of monies for home mortgages, business and job creation and helping the members of the community save and prepare for an uncertain future.
In the past, banks were more involved with the local communities, but as urban growth turned into urban sprawl, bankers would consider requests from outside the immediate area of their physical location. Often banks would choose to lend to a business or individual with a better prospect for success but from a longer distance away than someone struggling in the community around the block from the bank. This lack of commitment to the community must finally come to an end.
As citizens enter a time with a new political regime, it is hoped that a return to banking normalcy will return. Both Wall Street investors and local privately held banks have been criticized for making loans to generate interest and capital for the banks themselves and not helping the communities they serve. Greed coupled with deceit was the driving force behind the past economic crisis, and with a new perspective by bankers and members of the community such a crisis should not happen again in the near future.