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November 9, 2012
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News for the retail banking industry

  Top Story 
  • CFPB's Cordray gets green light with Obama's re-election
    President Barack Obama's re-election means Consumer Financial Protection Bureau Director Richard Cordray can move forward with several initiatives, Martha C. White writes. Expected at the top of his agenda are more investigations of credit card marketing practices, bank overdraft policy limitations and oversight of prepaid debt cards. Time.com (11/8) LinkedInFacebookTwitterEmail this Story
  Retail Banking Roundup 
 
  • Wells commits $35M to help active military, veterans
    Wells Fargo will commit $35 million to help active military personnel and veterans over the next three years. About $30 million worth of bank-owned property will be donated to nonprofits that will then turn it over to needy military members. Other funds will go toward hiring and mentoring initiatives, scholarships and financial education. AmericanBanker.com (free registration) (11/8) LinkedInFacebookTwitterEmail this Story
  • Capital One shows $36B in loans in storm-hit states
    In the first indication of bank exposure to superstorm Sandy, regulatory filings from Capital One reveal it has a total of $36.4 billion in outstanding loans in New York, New Jersey and Connecticut. The highest level of exposure, at $25.4 billion, is in New York with commercial property, while the other states have about $11 billion in car loans, mortgages and credit card loans, filings show. AmericanBanker.com (free registration) (11/8) LinkedInFacebookTwitterEmail this Story
STRONG Consumer Finance Servicer Ranking Reaffirmed
Standard & Poor's Ratings Services reaffirmed its STRONG ranking of CenterOne Financial Services LLC. CenterOne has maintained this status since 2004 and is the only consumer finance, automobile loan and lease servicer to achieve this distinction — which is the highest ranking possible.
  Emerging Channels 
  • MasterCard and ING seek the key to mobile shopping
    MasterCard and ING Group are testing a mobile strategy that lets consumers begin shopping at a desktop or tablet computer, and then complete the purchase with a mobile phone. The test project launched last month in the Netherlands and is designed to help the companies better understand how consumers want to shop through mobile devices. MobileCommerceDaily.com (11/8) LinkedInFacebookTwitterEmail this Story
  • Other News
  Industry News 
  • Commentary: Why banks have to move beyond branch thinking
    While branches are popular with customers, it's clear that the cost means some will have to be closed, write Piercarlo Gera and Wayne Busch of Accenture. However, banks have demonstrated that they can find other ways to meet customer needs, such as American Express' service that links customer cards with Facebook accounts to "provide customized offerings based on spending, location and social media profile." AmericanBanker.com (free registration) (11/8) LinkedInFacebookTwitterEmail this Story
  Regulatory Report 
  Legislative Affairs 
  • Boehner changing leadership strategy to present united GOP front
    House Speaker Rep. John Boehner, R-Ohio, plans to work more closely with the Republican leadership team to hammer out strategies, such as avoiding the "fiscal cliff." Boehner plans to make sure everyone is on the same page before presenting any plans to GOP members, because otherwise, the "inmates are running the asylum," a Republican insider says. The Hill (11/8) LinkedInFacebookTwitterEmail this Story
  • Warren might land on Senate banking committee
    U.S. Sen.-elect Elizabeth Warren, D-Mass., has a good chance of securing a seat on the Senate banking committee, senior Senate Democratic aides say. It is rare for a freshman senator to get such a highly coveted spot, but Warren is seen as a logical fit. "The leadership and committee chairmen usually work together to try to accommodate incoming senators' preferences, within reason," an aide said. "If Sen.-elect Warren indicates she'd like to serve on the banking committee, given her prominent work on those issues, she would certainly have a very good shot." Reuters (11/8) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • How to become a "no drama" leader
    During his 2008 election race, Barack Obama won the nickname "No Drama Obama" for his cool, collected approach to campaigning. What can business leaders learn? Take a similar approach, writes Scott Eblin. Remain focused on organizational goals even when things seem to be going badly, and set a model for others by treating those around them with dignity and respect. Such leaders "behave in a way that influences others to behave well," Eblin explains. EblinGroup.com/Next Level Blog (11/6) LinkedInFacebookTwitterEmail this Story
  CBA Connect 
  • Don't miss CBA LIVE 2013, March 11-13, in Phoenix, Ariz.
      
    Now in its fourth year, CBA LIVE features expert panels and distinguished speakers. Get the latest, most in-depth analysis of CFPB developments and choose from tailored sessions across nine areas of retail banking: Auto Finance, Community Reinvestment, Default Management, Deposits & Payments, Digital Channels, Fair Lending, Home Equity Lending, Small-Business Banking and Student Lending. Register by Dec. 21 and save $300. LinkedInFacebookTwitterEmail this Story

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  SmartQuote 
A man who does not read good books has no advantage over the man who can’t read them."
--Mark Twain,
American writer


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