Jim McKelvey Quotes

Every deal is a regulated deal. Regulators will tell you how to take your money home.

There are some terrorist organizations, there are some organized crime organizations, that launder money through charities and make donations to charities. That's not the purpose of charitable donations in Canada, so we're becoming increasingly strict on the subject.

Banks hold deposits and savings entrusted to them by individuals, by businesses, by governments and by central banks. They put that money to work, helping people to buy homes, for example, or lending to businesses to invest in expansion.

We don't have sales trading, brokerage, capital lending - any of those kinds of things that got some of the Wall Street firms a little bit in trouble.

When a country doesn't have a good economic infrastructure, that harms the country. With Stripe, the idea is that by providing better infrastructure, by linking the Internet economically, by making it easier for these online businesses to exist, it'll make the web better.

We have never heard of laundering in Macau; money laundering is unheard of. Mind you, my casino, every bit of money - someone says Stanley Ho, you issue me a check of so much money - we don't give that easy.

Payment systems are critically important for overall market stability. On a typical business day, U.S. payment and settlement systems settle transactions valued at over $13 trillion.

Imagine if the pension funds and endowments that own much of the equity in our financial services companies demanded that those companies revisit the way mortgages were marketed to those without adequate skills to understand the products they were being sold. Management would have to change the way things were done.

People in retail banks are not smart. They have a business model that's quite difficult to not make money out of - but still they somehow manage it.

Money never seems to be interested in strengthening regulatory agencies, for example, but always in subverting them, in making them miss the danger signs in coal mines and in derivatives trading and in deep-sea oil wells.

We are looking for development partners, people to work alongside us, which will accelerate our actually getting licences, the technology into product, into the markets.

You win the modern financial-regulation game by filing the most motions, attending the most hearings, giving the most money to the most politicians and, above all, by keeping at it, day after day, year after fiscal year, until stealing is legal again.

If the administration asks for $5 and Congress appropriates $4, that's what they get. If the government creates a subterfuge by going outside the government to raise money through a private entity, that's a violation of the law.

We're kidding on that. One of the things I insisted upon when we went into this project was that we are full partners, going fifty-fifty, both on the money and on the say of what's going on with the books.

With Indian migrants all over the world, money transfer is a big business in India.

I believe we must begin now to seriously focus on this central question- to what degree should financial providers besides banks be asked to step up to the plate and participate in CRA-like [Community Rehabilitation Act] programs as the banking industry has done?

American businesses and consumers deserve a debit card system with competition, transparency, and reasonable fees.

I frankly think we in the financial service world believe we need appropriate kinds of regulations. No question about that. But when something like Dodd-Frank has been created, sort of in the mystery of night, it is a huge document. It's vast. It weighs about 10 pounds when I carry it around.

Venmo is one of the jewels of Paypal.

As we think about the future, one of the things we will do is to make sure PayPal becomes the central part of consumers' lives, how we enable consumers to manage and move their money more efficiently, easily, and less expensively than some traditional ways.

Digital payments have already made it easier to move and manage money. While there's more work to do, the potential is real and understood.

The thing about innovation in financial markets is they're always building on what has come before. It's a natural process.

If you allowed PayPal to pursue its destiny, there are moves it could make to become the largest financial company in the world.

Many of the things that we take for granted around the table, like cashing a check or just paying a bill or sending money to somebody you love, is very time consuming.

Democrats are ready, willing, and able to provide regulatory relief for community banks and credit unions.