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January 3, 2013
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News for the retail banking industry

  Top Story 
  • Hunt: CFPB is responsive, but concerns remain
    Some industry analysts say the Consumer Financial Protection Bureau has taken a balanced approach in its regulation so far and has been responsive to the industry. Still, concerns about the agency exist. CBA President and CEO Richard Hunt says the CFPB should be accountable to Congress. "I do believe there needs to be some very important changes to CFPB," Hunt said. "I do believe Richard Cordray is the most powerful director of any agency since J. Edgar Hoover." Politico Pro (subscription required) (1/2) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Small businesses look for ways to avoid higher taxes
    Small-business owners who report company profit as personal income are reassessing their costs and plans for expansion as they face higher taxes resulting from the "fiscal cliff" deal. The agreement raises taxes on personal income above $400,000 for individuals and $450,000 for couples. The Wall Street Journal (1/2) LinkedInFacebookTwitterEmail this Story
  • Prepaid-card companies seek an edge in the market
    As demand rises for prepaid debit cards, marketers and banks are competing to attract consumers. Among the niche players is BillMyParents, which is using Justin Bieber's image to attract customers, while JPMorgan Chase and American Express are relying on their scale to offer lower fees. Experts say the growing market could be ripe for consolidation. Bloomberg (1/2) LinkedInFacebookTwitterEmail this Story
  Regulatory Report 
  • Government leans on banks to spot illegal transactions
    In its push to stop money laundering, the Justice Department is stepping up enforcement of the Bank Secrecy Act and asking banks to be more vigilant about spotting questionable transactions, experts say. "Banks are not set up historically really to be kind of quasi law enforcement enterprises, which is really what the U.S. government's asking of them," said Eugene Ludwig, former head of the Office of the Comptroller of the Currency. National Public Radio (1/1) LinkedInFacebookTwitterEmail this Story
  • OCC downgrades JPMorgan community-lending practices
    The Office of the Comptroller of the Currency downgraded JPMorgan Chase's community-lending practices twice in the last six months, underscoring the regulator's tougher stand on stopping unfair or deceptive practices. JPMorgan says it is taking steps to regain its "outstanding" rating. The Wall Street Journal (1/2) LinkedInFacebookTwitterEmail this Story
  • Other News
  Legislative Affairs 
  The Future of Money 
  Career Development 
  • Sneaky tactics for being more persuasive
    Psychological research has unearthed tactics of persuasion that don't require special skills or uncommon amounts of charisma, Parminder Bahra writes. For instance, try tapping into people's unconscious desire to be part of the majority or their tendency to reciprocate favors. Also, framing decisions in terms of what a person stands to lose is more persuasive than emphasizing possible gains, Bahra writes. The Wall Street Journal (12/26) 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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--Benjamin Franklin,
American inventor and statesman

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