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March 6, 2013
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News for the retail banking industry

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  Retail Banking Roundup 
 
  • 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) LinkedInFacebookTwitterEmail this Story
  • 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) LinkedInFacebookTwitterEmail this Story
  Regulatory Report 
  • 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) LinkedInFacebookTwitterEmail this Story
  • 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) LinkedInFacebookTwitterEmail this Story
  Legislative Affairs 
  • 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) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • Leaders should serve themselves some humble pie
      
    YouTube/John Baldoni
    The best leaders tend also to be the most humble, John Baldoni says in this video. Business schools might not teach humility, but bosses who can check their egos at the door are more likely to command respect and loyalty. "Leaders who value humility are the ones other people want to follow," Baldoni writes. SmartBrief/SmartBlog on Leadership (3/1) LinkedInFacebookTwitterEmail this Story

  CBA Connect 
  • 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. LinkedInFacebookTwitterEmail this Story

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  SmartQuote 
Every time you spend money, you're casting a vote for the kind of world you want."
--Anna Lappé,
American writer, speaker and activist


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