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November 21, 2012
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News for the retail banking industry

  Top Story 
  • U.S.: Dodd-Frank challengers haven't shown law's harm
    The Justice Department told a federal judge that plaintiffs challenging the Dodd-Frank Act and its creation of the Consumer Financial Protection Bureau should have their claims dismissed because they have not said how they're being hurt, nor have they alleged any "credible and imminent threat" if the law is enforced. Bloomberg Businessweek (11/20) LinkedInFacebookTwitterEmail this Story
  The CFPB Today 
  • CFPB to raise threshold for disclosure under HOEPA
    The Consumer Financial Protection Bureau is revising some of the threshold limits for the Home Ownership Equity Protection Act under Regulation Z of the Truth in Lending Act. The CFPB is raising the $400 threshold to $625, effective Jan. 1. Housing Wire (11/20) LinkedInFacebookTwitterEmail this Story
  • Banks voice concerns about mortgage-disclosure rules
    The Consumer Financial Protection Bureau's proposals for streamlining mortgage-disclosure forms could add costs for banks and confusion for borrowers, bankers say. "We are concerned that some aspects of the proposal will add to 'information overload,' detract from the quality of disclosures, and impose unwarranted and unnecessary burdens on creditors," wrote Sy Naqvi, chief executive of PNC Mortgage, in a comment letter. (free registration) (11/20) LinkedInFacebookTwitterEmail this Story
  Retail Banking Roundup 
  • New options emerge for those with tarnished credit
    Credit bureaus are looking at different factors to decide on loans for borrowers with flawed or incomplete credit records, or no credit. Instead of looking at past borrowing, the agencies are examining such items as rent payments, utility payments and employment, opening up a new market that could include millions of borrowers. Other financial companies are looking at consumers' prepaid-card spending habits in considering them for credit cards. The Wall Street Journal (11/19) LinkedInFacebookTwitterEmail this Story
  Emerging Channels 
  • Amex turns to iAd to promote Small Business Saturday
    American Express is using Apple's iAd network to spread the word about Small Business Saturday, an event designed to drive shoppers to local merchants during the first holiday shopping weekend. “Mobile consumption is growing and we are keen at making sure that we are in the mobile space and thinking about ways to provide utility while also generating awareness,” said Jill Toscano, director of global media for American Express. (11/20) LinkedInFacebookTwitterEmail this Story
  • Other News
  Industry News 
  Regulatory Report 
  • Bernanke urges budget deal
    Federal Reserve Board Chairman Ben Bernanke says failure to reach a budget deal and avert a "fiscal cliff" could undermine the recovery of the U.S. economy in 2013. "Cooperation and creativity to deliver fiscal clarity -- in particular, a plan for resolving the nation's longer-term budgetary issues without harming the recovery -- could help make the new year a very good one for the American economy," he said. Reuters (11/20), The Hill/On the Money blog (11/20), The Wall Street Journal (11/20) LinkedInFacebookTwitterEmail this Story
  • Other News
  Members in the News 
  • Moynihan says BofA has winning model
    In an interview on Bloomberg TV's "Market Makers," Bank of America CEO Brian Moynihan defended his company's business model, saying, "The model works, the stock has improved. For us it's a matter of getting the legacy issues behind us and have the earnings come back." Bloomberg (11/19) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • How to train yourself to focus on the positive
    Research shows you can train your brain to let go of stress by focusing on the positive things that happen throughout the day and getting inspiration from others who remain upbeat, Michele Hoos writes. Also practice "self-compassion" and let go of self-critical thoughts so you're more focused on the joy in your life, experts say. (11/18) LinkedInFacebookTwitterEmail this Story
  CBA Connect 
  • CBA LIVE 2013: The Future of Money
    Are you ready for the Future of Money? CBA LIVE 2013, March 11-13 in Phoenix, Ariz., will bring together the top executives in retail banking to learn, exchange ideas and identify solutions to the challenges facing our industry. Our 2012 event was a record-breaking success with more than 1,000 banking leaders in attendance! Now in its fourth year, CBA LIVE features expert panels and distinguished speakers across nine forums of tailored programming. Reserve your space today and join us for this must-attend event. LinkedInFacebookTwitterEmail this Story

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  Editor's Note 
  • SmartBrief will not publish Thursday and Friday
    In observance of Thanksgiving in the U.S., SmartBrief will not be published Thursday and Friday. Publication will resume Monday. Enjoy the holiday! LinkedInFacebookTwitterEmail this Story
If the only prayer you said in your whole life was 'thank you,' that would suffice."
--Meister Eckhart,
German theologian and philosopher

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