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October 23, 2012
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News for the retail banking industry

  Top Story 
 
  • Credit quality improving with fewer delinquencies
    Credit card-backed securities have been selling well, with $32 billion worth sold so far in 2012. In addition, borrowers have been paying down their debts and paying on time, increasing the credit quality. Financial Times (tiered subscription model) (10/22) LinkedInFacebookTwitterEmail this Story
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  The CFPB Today 
  • CFPB will help consumers who have complaints about credit reporting
    Consumers can now call the Consumer Financial Protection Bureau if they have problems with a credit-reporting agency or believe there is an error on their credit reports, says Richard Cordray, CFPB director. The agency says the consumer should first communicate with the credit-reporting agency if there are problems, then turn to the CFPB if the problems aren't resolved. Consumers "need an avenue of recourse when they feel they have been wronged," he said. The Hill/On the Money blog (10/22) LinkedInFacebookTwitterEmail this Story
  Retail Banking Roundup 
 
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  Emerging Channels 
  • Google: Expect mobile payment services growth to be slow
    Google is seeing fast growth in its mobile payments, but mobile payment services using near-field communications technology likely won't become commonplace in the U.S. for at least three more years, Google executive Osama Bedier says. "There's room for multiple solutions ... but each solution has to have a value proposition," he said. In a related item, Google is said to be thinking about settling an antitrust case involving its handling of mobile patents. Network World/IDG News Service (10/19), The Wall Street Journal (10/19) LinkedInFacebookTwitterEmail this Story
  • Other News
  Industry News 
  • Low interest rates weigh on bank profits
    Record-low rates have helped spur borrowing among individuals, but industry observers say they will force banks to look for new ways to make money as profit margins shrink. "Artificially low rates are not good for anybody," said Daryl Bible, BB&T's chief financial officer. "Rates are way too low for this stage in the recovery." The Wall Street Journal (10/22) LinkedInFacebookTwitterEmail this Story
  • Leaders meet to build support for fiscal changes
    About 75 leaders in the real estate, construction, retail and financial services industries met Monday in an effort to garner support for averting the "fiscal cliff," sources say. The event was hosted by JPMorgan Chase CEO Jamie Dimon and featured talks from Sens. Mark Warner, D-Va., and Lamar Alexander, R-Tenn., both of whom are said to favor a plan by the Simpson-Bowles Commission. AmericanBanker.com (free registration) (10/22) LinkedInFacebookTwitterEmail this Story
  • Other News
  Regulatory Report 
  • Commentary: Address issues with regulatory changes now
    Columnist Barbara Rehm argues that the time is right to address concerns about the Dodd-Frank Act, Basel III rules and other regulatory changes. Lawmakers, regulators, industry experts and other observers are increasingly questioning the changing regulatory landscape. Karen Shaw Petrou of Federal Financial Analytics recently completed an assessment of the changes. "Her stark conclusion: even if regulators did everything called for in Dodd-Frank, and did it perfectly, financial services supervision would still be a mess," Rehm writes. "Throw Basel III in the mix and it just gets worse." AmericanBanker.com (free registration) (10/23) LinkedInFacebookTwitterEmail this Story
  Legislative Affairs 
  • Frank criticizes government action against JPMorgan
    Sen. Barney Frank, D-Mass., is criticizing New York Attorney General Eric Schneiderman for suing JPMorgan Chase for alleged wrongdoings by Bear Stearns. Frank says the government urged JPMorgan to purchase Bear Stearns during the financial crisis and the action against JPMorgan "fits the description of allowing no good deed to go unpunished." Reuters (10/22) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • How to learn to sell yourself to others
    Successful people like Virgin Group's Richard Branson demonstrate that it's not always the most skilled people who succeed -- but those who are best able to sell themselves to others, says Adam Riccoboni, co-author of "The Art of Selling Yourself." He provides several tips for selling your abilities and how to keep your "profile as high as possible." USA Today (10/21) 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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  SmartQuote 
Too often man handles life as he does the bad weather. He whiles away the time as he waits for it to stop."
--Alfred Polgar,
Austrian journalist


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