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November 2, 2012
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News for the retail banking industry

  Top Story 
  • CFPB, FHFA will launch single mortgage database
    A database tracking mortgage information to spot market trends and support policymaking research is being created by the Consumer Financial Protection Bureau and the Federal Housing Finance Agency. While some analysts say the single, comprehensive database will keep policymakers better informed, others express concern about the detailed information that will be collected and the expense of the endeavor. (free registration) (11/1) LinkedInFacebookTwitterEmail this Story
  The CFPB Today 
  • Officials criticize bank offerings they say resemble payday loans
    Several big banks are moving forward with short-term, high-cost loans that are garnering the scrutiny of federal agencies such as the Consumer Financial Protection Bureau and the Federal Deposit Insurance Corp. Even some state officials are warning banks they don't want the loans in their states, with North Carolina's Attorney General Roy Cooper demanding more details to investigate offers being made to consumers. Bloomberg Businessweek (11/1) LinkedInFacebookTwitterEmail this Story
  Retail Banking Roundup 
  • JPMorgan will help storm-ravaged businesses with loans
    Banks are offering assistance to victims of superstorm Sandy, extending their offers to long-term relief efforts. JPMorgan Chase says small- and medium-sized businesses affected by the storm will be eligible for $5 billion in loans with favorable terms. "While all natural disasters are heartbreaking, as a New York-based bank, this one literally hits home," said CEO Jamie Dimon. (free registration) (11/1) LinkedInFacebookTwitterEmail this Story
  • Other News
  Industry News 
  • Companies say Durbin is to blame for higher parking, DVD rental fees
    Source: Roll Call
    Park Mobile USA is placing stickers on parking meters in Washington, D.C., blaming its fee hike on Rep. Dick Durbin, D-Ill. In an e-mail to customers, the company said the "transaction fees in DC will increase from $0.32 to $0.45 due to increased costs triggered by recent federal legislative reform enacted by the Dodd-Frank Wall Street Reform and Consumer Protection Act's Durbin Amendment." DVD rental company Redbox also cited the Durbin Amendment as the reason for a $0.20 increase in fees. "This is yet another example of how the Durbin amendment has failed those it claims to help," said a spokeswoman for the Electronic Payments Coalition. (subscription required) (10/31), Roll Call (free content)/Heard on the Hill (11/1), U.S. News & World Report (10/26) LinkedInFacebookTwitterEmail this Story

  • Mid-sized banks part ways with Wall Street's lobbying
    The nation's mid-sized banks have largely let Wall Street lobbyists speak for them in Washington, D.C., in the past but now that is changing. Lobbyists and executives for regional banks say they shouldn't be placed under the same rules as the big Wall Street banks because their activities are much less risky. "There was this view on the Hill that you were either a small community bank or a mega-bank. We felt like the middle child," said Brian Smith of Regions Financial. Bloomberg (11/2) LinkedInFacebookTwitterEmail this Story
  Regulatory Report 
  Technology Today 
  • Bank cybervulnerability is still a national security concern
    U.S. Homeland Security Secretary Janet Napolitano says she's concerned about a cyberwar that includes attacks on banks, and other security experts agree. Avivah Litan, security analyst at Gartner, says superstorm Sandy's ability to shut down the financial sector over the last few days is a reminder that the industry is vulnerable even though banks often are well defended. Unfortunately, banks are also "the most heavily targeted segment of the economy because, as the old bank robber Willie Sutton said, they're where the money is," said Michael Murray, a managing partner of MAD Security. ECT News Network (11/1) LinkedInFacebookTwitterEmail this Story
  • Security exec gives tips to help banks fight cyberwar
    Denial-of-service attacks like those on U.S. banks in recent weeks are not impossible to fight, says Marty Meyer, chief executive of Corero Network Security in Hudson, Mass. "It requires a layered approach, but it's totally preventable. ... There are really good technologies out there," he said, offering nine examples of how banks can approach the problem. (subscription required) (11/1) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • Why you shouldn't say "yes" to every request
    Constantly trying to meet the needs of others can lead to exhaustion and frustration, writes Elizabeth Grace Saunders, who recommends setting boundaries and learning to delegate. "There will always be more events, more conferences, more articles, even more crises to solve -- more of everything. If you don't make time for what's an enduring priority for you, such as sleep, rest, or time with important people, you'll miss out on what truly matters," she writes. Harvard Business Review online/HBR Blog Network (10/30) LinkedInFacebookTwitterEmail this Story
  CBA Connect 
  • Don't miss CBA LIVE 2013, March 11-13, in Phoenix, Ariz.
    Now in its fourth year, CBA LIVE features expert panels and distinguished speakers. Get the latest, most in-depth analysis of CFPB developments and choose from tailored sessions across nine areas of retail banking: Auto Finance, Community Reinvestment, Default Management, Deposits & Payments, Digital Channels, Fair Lending, Home Equity Lending, Small-Business Banking and Student Lending. Register by Dec. 21 and save $300. LinkedInFacebookTwitterEmail this Story

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Thinking is the enemy of creativity. It’s self-conscious, and anything self-conscious is lousy. You can’t try to do things. You simply must do things."
--Ray Bradbury,
American writer

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