City National Bank Chairman and CEO Russell Goldsmith was interviewed from the floor of the New York Stock Exchange on June 9 on CNBC's Squawk on the Street morning show.
Goldsmith detailed his views on bank regulation, the Financial CHOICE Act that recently passed in the U.S. House of Representatives and City National's expansion.
He specifically pointed to:
- The need for reform, but not outright repeal, of Dodd-Frank legislation.
- Concerns about the proposed rollback of state and local tax deductions.
"It's a good time to review Dodd-Frank," Goldsmith said. "When banks are managed prudently, they could have a little more room to foster job growth, to foster business."
Goldsmith also pointed out that City National never made sub-prime mortgages or sold toxic securities. "Our parent, RBC, has a similar track record of great integrity," he said.