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- Changing customer preferences leads PNC to cut 200 branches
PNC Financial Services Group plans to close about 200 branches this year to cut costs by $700 million. The bank is trying to find a balance between customers who still visit branches and those who do not, said President William Demchak. "We need both of those customers and have to figure out how to serve both of those customers without alienating either one," he said. Pittsburgh Tribune-Review
(3/5)     
- Webster Bank evolves with fewer branches
Webster Bank's growth strategy includes outsourcing its data network, cutting branch infrastructure costs by 20% and letting branch staff perform more functions, executives say. "When you get past your largest expenses of compensation and benefits, you've really got to control your occupancy costs," said President and Chief Operating Officer Jerry Plush. "...We're evolving into a best location, more universal banker-driven, sales and consultative model." AmericanBanker.com (free registration)
(3/5)
| Regulatory Report |  |  |
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- Fed will stick to rules governing swipe fees
A Federal Reserve report shows there was a 52% drop in swipe fees in the final three months of 2011, to an average of 24 cents per transaction, as compared with the first nine months of that year. In October 2011, the Fed capped swipe fees at about 21 cents per transaction, as directed by the Durbin amendment. The Fed said Tuesday that it does not plan to change those rules, as some retail groups had hoped. Fox Business/Dow Jones Newswires
(3/5), The Wall Street Journal
(3/5)
- FDIC will provide more guidance on "living wills"
As the deadline approaches for big banks to submit the second round of plans for winding themselves down in case of failure, banks have not received as much feedback as they have requested on their previous plans. In response, Martin Gruenberg, chairman of the Federal Deposit Insurance Corp., said Tuesday that the agency would issue further guidance after speaking with the Federal Reserve about the details. The stakes are higher, because the safety net banks had for the last round won't be there this time. Bloomberg
(3/5)
| Legislative Affairs | | |
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- Shelby proposes Dodd-Frank changes
Sen. Richard Shelby, R-Ala., introduced a bill requiring regulators under the Dodd-Frank Act to apply economic analysis to any new rules and would prevent them from putting regulations in place that generate more costs that benefits. Shelby introduced another measure that aims to correct Dodd-Frank's technical errors. The Hill/On the Money blog
(3/5)
| Career Development | | |
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| CBA Connect | | |
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CBA's Banking on Youth Competition -- Call for Sponsors
Now is your chance to join fellow bankers to support the 2013 Banking on Youth Competition. The program's inaugural year was a great success with 13 sponsoring banks and more than 170 entries from youth teams across 33 states. Sponsorship opportunities for 2013 are still available, ranging from $3,000 to $40,000. Visit our website and learn how you can support this growing competition and connect with America's young entrepreneurs to build sustainable ventures. Contact CBA for more information.
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