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December 20, 2012
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News for the retail banking industry

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  The CFPB Today 
 
  • CFPB examines complaint procedure at credit-reporting agencies
    The Consumer Financial Protection Bureau told a Senate banking panel that it is reviewing whether some credit-reporting agencies are breaking the law in their handling of possible errors on consumer reports. The matter was the subject of a CFPB report this month. "We have many tools with which we can make determinations about whether the law is being violated or not," Assistant Director Corey Stone said. "And in this case, that is what is going to happen." Reuters (12/19) LinkedInFacebookTwitterEmail this Story
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  Retail Banking Roundup 
 
  • Citi will reduce presence in Philadelphia suburbs
    Citibank is trimming branches from suburban locations around Philadelphia as it refocuses its business on urban areas and scales back its workforce. The bank cites more customer reliance on smartphones and a preference to use online banking instead of driving to a branch. The Philadelphia Inquirer (12/19) LinkedInFacebookTwitterEmail this Story
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  Regulatory Report 
  • Fed will give up collective opinion on economic forecast
    The Federal Reserve said it will no longer try to forge a consensus opinion about a forecast of the U.S. economy. Federal Reserve Bank of Dallas President Richard Fisher suggested that Fed Chairman Ben Bernanke's news conferences can still be relied on to show the way. Reuters (12/19) LinkedInFacebookTwitterEmail this Story
  The Future of Money 
  • Banks struggle to use Twitter effectively, report finds
    Banks are lagging behind other businesses in using Twitter, and when they do tweet, it's often irrelevant comments that don't engage customers, according to a report from Aite Group. Only 9% of consumers follow their primary financial institutions on Twitter, the report finds. Aite analyst Ron Shevlin provides several ways banks can develop better relationships with customers via Twitter, such as offering "tips and tricks to manage money." Bank Investment Consultant (12/19) LinkedInFacebookTwitterEmail this Story
  • Other News
  Members in the News 
  • Moynihan hopeful on averting "fiscal cliff"
    Brian Moynihan, CEO of Bank of America, discusses branch banking, the Dodd-Frank Act, the "fiscal cliff" and other issues in this interview. He said he is optimistic that lawmakers will avert the fiscal cliff with an agreement. "It's time to get it done," he said. The Charlotte Observer (N.C.) (12/20) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • The best bosses show no fear
    There are five key traits of world-class leaders, says Adam Bryant, who writes the New York Times' "Corner Office" column. Bosses need passion, confidence, a clear vision, a sense of how to manage groups of people, and an utter fearlessness that allows them to take calculated risks without blinking. "The CEOs that I've interviewed had reverence in their voices when they talk about this quality of fearlessness," Bryant says. Knowledge@Wharton (12/17) LinkedInFacebookTwitterEmail this Story
  CBA Connect 
  • CBA LIVE Early Bird Savings -- Register by Dec. 21
      
    Register by Dec. 21 and get the best rates for CBA LIVE 2013. Early birds save $300 and CBA Members can save even more with group discounts. Come to CBA LIVE 2013, March 11-13 in Phoenix and get the latest, most in-depth analysis of CFPB developments with tailored sessions across nine areas of retail banking. Now in its fourth year, CBA LIVE features expert panels and distinguished speakers. Make your hotel reservations today at the JW Marriott Desert Ridge Resort and save with special CBA rates. LinkedInFacebookTwitterEmail this Story

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  SmartQuote 
No man for any considerable period can wear one face to himself and another to the multitude, without finally getting bewildered as to which may be the true."
--Nathaniel Hawthorne,
American author


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