Most Clicked CBA SmartBrief Stories


1. Banks await Supreme Court ruling on disparate impact

CBA SmartBrief | May 26, 2015

Banks are watching a Texas civil rights case before the Supreme Court that could eliminate the theory of disparate impact, which would give banks ammunition to fight the Consumer Financial Protection Bureau on lending-bias issues. A ruling could come this week. Reuters (05/22)


2. CFPB set to move soon on oversight of auto-finance firms

CBA SmartBrief | May 26, 2015

The Consumer Financial Protection Bureau is close to finalizing a rule to bring major auto-finance companies under federal supervision, according to the Office of Management and Budget. The bureau regulates major banks that make auto loans but has no authority over nonbank auto financing. MLex (subscription required) (05/22)


3. CFPB requests credit union overdraft fee data from Fiserv

CBA SmartBrief | May 21, 2015

The Consumer Financial Protection Bureau has asked Fiserv to turn over data on overdraft fees charged by credit unions. A CFPB spokeswoman said officials previously looked at overdraft data for big banks and now want to look at smaller institutions. Fiserve CEO Jeff Yabuki said he has concerns. "We have absolutely no problem making sure that the fee structure makes sense, but what we worry about is that this kind of research could end up with a unilateral 'We think this is bad,' without understanding how these fees are appropriate," he said. Milwaukee Journal Sentinel (tiered subscription model) (05/20)


4. CFPB orders PayPal to pay $25M for deceptive practices

CBA SmartBrief | May 20, 2015

PayPal will settle for $25 million the Consumer Financial Protection Bureau's claims that it engaged in deceptive marketing and enrolled consumers without their consent in its Bill Me Later credit offering, now known as PayPal Credit. PayPal has agreed to pay $15 million to consumers and a $10 million penalty. The Wall Street Journal (tiered subscription model) (05/19) AmericanBanker.com (free content) (05/19)


5. Subprime share of auto loans declines

CBA SmartBrief | May 20, 2015

Subprime auto loans originated in the first quarter dropped to 19.7% of all auto loans, the lowest level since 2012, says Experian Automotive. Overall auto lending was up 11.3% from the year-earlier period to $905 billion, and 30-day delinquencies fell 4.1%. USA Today (05/19)


6. FICO sees "unprecedented" spikes in ATM debit card theft

CBA SmartBrief | May 20, 2015

Hackers are stealing debit card information from ATMs at a level not seen in 20 years, says FICO. From Jan. 1 to April 9, attacks increased 174% from the year-earlier period at ATMs located at banks and rose 317% at nonbank machines. "These tremendous spikes in fraud are unprecedented," FICO's John Buzzard said. The Wall Street Journal (tiered subscription model) (05/19)


7. Credit-reporting firms reach deal with states on data

CBA SmartBrief | May 22, 2015

TransUnion, Equifax Information Services and Experian Information Solutions have reached agreements with 31 states to update the way the credit-reporting services handle consumer data. As part of the deal, the agencies will report the names of the lenders and others who provide erroneous consumer information on a consistent basis. The Wall Street Journal (tiered subscription model) (05/20)


8. Capital One to open concept branch in NYC's Union Square

CBA SmartBrief | May 22, 2015

Capital One will soon open a bank branch in Manhattan that combines a coffee bar, a group work lounge for customers and tellers equipped with iPads to help customers with transactions. The bank plans to roll out the concept to other locations. Crain's New York Business (05/20)


9. How to inspire employees to do their best work

CBA SmartBrief | May 21, 2015

Managing employees should go beyond simply directing them on how to do their jobs, Kelly Decker and Ben Decker write. Managers should "aspire to inspire," they write, by making an emotional connection with employees and adjusting their messaging as necessary. Harvard Business Review online (tiered subscription model) (05/18)


10. JPMorgan analysis finds consumer income swings, cash shortage

CBA SmartBrief | May 20, 2015

Income volatility spans the wealth spectrum and is not tied to out-of-the-ordinary events like job losses, according to a study of customer data by JPMorgan Chase. Incomes swing by more than 30% from one month to the next for 2 in 5 people, and a typical middle-income household lacks sufficient savings to survive a major financial setback. The analysis comes from the newly launched JPMorgan Chase Institute, a global think tank that will use customer financial behavior data to provide insight on the economy. Financial Times (tiered subscription model) (05/20) The Wall Street Journal (tiered subscription model) (05/20)




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