Most Clicked CBA SmartBrief Stories

1. CFPB wants income verification, time limits for payday loans

CBA SmartBrief | Mar 26, 2015

The Consumer Financial Protection Bureau today will release proposed regulations for payday lenders that include a 45-day limit on short-term loans, requiring lenders to assess a borrower's ability to repay and a cooling-off period for serial borrowers. (free content) (03/26) Wall Street Journal (tiered subscription model), The (03/26) Washington Post (tiered subscription model), The (03/26) Hill, The (03/26)

2. Dodd-Frank changes move to full House

CBA SmartBrief | Mar 27, 2015

The House Financial Services Committee has approved 11 Dodd-Frank Act reform measures, several of which would affect smaller lenders and the Consumer Financial Protection Bureau. Democrats on the panel largely supported the changes but expressed concern that the reform measures could snowball to Wall Street banks. Hill, The (03/26)

3. Banks look to in-store branches for new customers

CBA SmartBrief | Mar 23, 2015

Some banks are stepping up their commitment to in-store branches, touting the potential for customer acquisition and deposits. Huntington Bancshares, which plans to open 40 branches this year in Meijer grocery stores in Michigan, sees about 30% of its new customers from in-store branches. Employees at these branches focus on helping customers with their grocery shopping. "We become the friendly banker who is out in the store a lot," said Mary Navarro, director of retail and business banking and CBA board member. "That has made this successful for us." (subscription required) (03/20)

4. KeyBank goes back to basics with commercial lending

CBA SmartBrief | Mar 27, 2015

KeyBank's commercial and industrial lending business rose 12.3% in 2014, with $28 billion in such loans accounting for 49% of the bank's overall portfolio. "We've learned our lessons from the downturn," said Beth Mooney, KeyCorp chairwoman and CEO. "We value good execution over fancy strategies." Wall Street Journal (tiered subscription model), The (03/26)

5. Commentary: Education Department lacks expertise to oversee student loans

CBA SmartBrief | Mar 24, 2015

Oversight of student loans should be taken away from the Education Department and given to an existing or new agency, writes Susan Dynarski, a professor of economics, education and public policy at the University of Michigan. The department lacks the ability to analyze the potential economic threat posed by student loans, making it impossible to find solutions, she argues. New York Times (tiered subscription model), The (03/20)

6. CBA: HELOC originations up 36% so far this year

CBA SmartBrief | Mar 27, 2015

Consumer demand for home equity lines of credit remains strong this year, continuing the trend seen in 2014, according to an analysis from CBA's Home Equity Lending Committee. HELOC originations have increased 36% this year as of March 15, compared with 25% last year. HELOC borrowers are encouraged by attractive interest rates and recovering home values, CBA says. National Mortgage News (03/25)

7. Antonakes: CFPB open to changing bank responses on complaint portal

CBA SmartBrief | Mar 26, 2015

The Consumer Financial Protection Bureau is open to working with the financial services industry to amend how banks can respond on the new consumer complaint portal, says Steven Antonakes, the bureau's deputy director. The CFPB also will consider suggestions regarding new mortgage disclosure forms, he said. National Mortgage News (03/25)

8. Wells Fargo closing Wis. mortgage-servicing unit, eliminating 1,000 jobs

CBA SmartBrief | Mar 26, 2015 (free content) (03/25)

9. At CBA conference, experts discuss customer experience

CBA SmartBrief | Mar 27, 2015

The most successful banks help customers improve their financial health, said Jennifer Tescher, president and CEO of the Center for Financial Services Innovation, speaking at CBA LIVE 2015. Other experts at the conference discussed the importance of a positive memorable customer experience and what it takes to stay competitive in banking today. (03/25)

10. Square Cash broadens to include businesses

CBA SmartBrief | Mar 24, 2015

Square Cash, the peer-to-peer payments service offered by Square, now will allow small businesses to use the service for a 1.5% processing fee. Businesses need to set up a "$Cashtag" to receive payments. CNBC (03/23) New York Times (tiered subscription model), The (03/23)

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