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- More states challenge constitutionality of Dodd-Frank, CFPB
Eight states are joining three others already participating in a lawsuit to challenge the Dodd-Frank Act and the Consumer Financial Protection Bureau. Alabama, Georgia, Kansas, Montana, Nebraska, Ohio, Texas and West Virginia allege that Dodd-Frank burdens community banks and gives unelected people too much power. Oklahoma, South Carolina and Michigan in September joined a lawsuit filed by the 60 Plus Association, the Competitive Enterprise Institute and a Texas bank. MarketWatch
(2/13), AmericanBanker.com (free registration)
(2/13)     
| The CFPB Today | | |
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- Wible expects CFPB to be reasonable about auto lending
Bank of the West's Paul Wible, chair of CBA's Automobile Finance Committee, says the Consumer Financial Protection Bureau is being "prudent and reasonable" regarding mortgages, and the same is expected for automotive finance. In an interview, Wible also says that Bank of the West is growing eastward and the industry's delinquencies and losses are at pre-recession levels. Automotive News
(2/11)
| Industry News | | |
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- Commentary: Banks should do more with mobile banking
Bankers need to focus on more innovation in mobile banking to get the most benefits from it, integrate it with other channels and charge more fees for the services, writes William Weidman, vice president at Applied Predictive Technologies. "Banks should test different fee levels to determine which work best and identify which customers should be exempt from these fees to avoid losing certain segments of customers," he writes. AmericanBanker.com (free registration)/BankThink
(2/13)
| Regulatory Report | | |
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- SEC lacks resources to implement Dodd-Frank, Walter says
The Securities and Exchange Commission lacks the resources needed to fully implement the Dodd-Frank Act, Chairman Elisse Walter is expected to tell the Senate banking committee today. "If the SEC does not receive additional resources, I believe that many of the issues to which the Dodd-Frank Act is directed will not be adequately addressed," she is to say, according to prepared remarks. Reuters
(2/13)
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- Warren among senators urging Cordray vote
The Senate should vote on Richard Cordray's re-nomination to lead the Consumer Financial Protection Bureau, Sen. Elizabeth Warren, D-Mass., said Wednesday.
"Political stalemates don't end in more government or less government, but in bad government -- government that lacks the clarity and predictability that our businesses need to plan for the future, to serve their customers, and to create jobs," she said in a statement. Warren participated in a news conference with Sens. Jack Reed, D-R.I., and Sherrod Brown, D-Ohio. MassLive.com/The Republican (Springfield, Mass.)
(2/13)
| The Future of Money | | |
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- PayPal expands to gas stations, convenience stores
Gas stations and convenience stores across the U.S. will start taking PayPal as a payment option, thanks to a deal between PayPal and checkout solution Gilbarco Veeder-Root. "PayPal wants to be where consumers shop every day and by collaborating with Gilbarco, one of the leaders in the convenience store and fuel industry, it has the potential to put us into thousands of locations," said Don Kingsborough, PayPal's vice president of retail services. TechCrunch
(2/12)
| Members in the News | | |
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- Judge dismisses ATM price-fixing suit against Visa, MasterCard
A U.S. district judge has dismissed a suit against Visa and MasterCard that was brought by the National ATM Council, which represents owners of automated teller machines. The group had alleged an anti-competitive environment based on a conspiracy by the card issuers to prevent ATM owners from charging varying fees for use of the transaction networks. "Notably absent from each of the complaints are facts showing the existence of an agreement, the essential element of any conspiracy," U.S. District Judge Amy Berman Jackson wrote. Bloomberg
(2/13)
| CBA Connect | | |
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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.
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