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November 19, 2012
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News for the retail banking industry

  Top Story 
  • Industry voices concerns to CFPB official
    Banking industry representatives Friday raised concerns about the Consumer Financial Protection Bureau's exams and approach to regulation in a panel discussion with Michael Gordon, senior counselor to the director. Steven Zeisel, CBA's general counsel, said bank regulators have "a serious coordination issue." "I've been getting an earful from our members about the exam process," Zeisel said. (subscription required) (11/16) LinkedInFacebookTwitterEmail this Story
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  The CFPB Today 
  • Commentary: CFPB should be dismantled in court
    The Consumer Financial Protection Bureau needs to be dismantled because it "embodies progressivism's authoritarianism -- removing much policymaking from elected representatives and entrusting it to unaccountable 'experts' exercising an unfettered discretion incompatible with the rule of law," columnist George Will writes. "Judicial dismantling of the CFPB would affirm the rule of law and Congress's constitutional role." The Washington Post (11/16) LinkedInFacebookTwitterEmail this Story
  Retail Banking Roundup 
  • Banks pare down checking account disclosure forms
    Bank of America has whittled its checking account disclosure summary down to two pages, while First Niagara Bank is cutting it 47-page document down to about four pages, officials say. "There is enormous attention being paid to business practices coming out of the financial crisis," said Andrew Plepler of Bank of America. "Fees have gotten a lot of attention. In this environment, we made it a real priority to be clear and transparent with our customers." The Hartford Courant (Conn.) (11/18) LinkedInFacebookTwitterEmail this Story
  • Waived fees could confuse storm victims, critics say
    Some banks are automatically waiving payments for customers in areas hit by superstorm Sandy, and critics say the process could cause confusion. For example, while Discover Financial Services is waiving payments, carryover balances still will have finance fees attached. Meanwhile, some lenders are offering credit-line increases to borrowers upon request. The Wall Street Journal/Dow Jones Newswires (11/16) LinkedInFacebookTwitterEmail this Story
  • Other News
  Legislative Affairs 
  • Analysis: TAG extension is still possible
    The Federal Deposit Insurance Corp.'s Transaction Account Guarantee could be extended if attached to other legislation, such as the agriculture reform bill or a potential disaster-relief bill for superstorm Sandy victims, Joe Adler writes. "[O]nly a very finite amount of legislative business can get done in this 'lame-duck' period," he writes. (free registration) (11/16) LinkedInFacebookTwitterEmail this Story
  • Budget deal looks promising, leadership says
    Congressional leaders and President Barack Obama are promising to act quickly to avert a "fiscal cliff" and reach a budget compromise. An agreement for a two-phase plan is likely to trim some entitlement programs and increase some taxes. "This isn't something we're going to wait until the last day of December to get it done," said Senate Majority Leader Harry Reid, D-Nev. National Journal (11/16), The Wall Street Journal (11/16) LinkedInFacebookTwitterEmail this Story
  Technology Today 
  Career Development 
  • How leaders can channel their inner Abraham Lincoln
    President Abraham Lincoln's leadership provides valuable lessons on how to bring together divisive teams, work toward compromise and get along with former critics to get things done, says leadership coach John Baldoni. Lincoln showed that it's important to "reach across the aisle to rivals and tell them that you still want them around, you still value them." USA Today/Gannett News Service (11/18) LinkedInFacebookTwitterEmail this Story
  Hot Topics 

Top five news stories selected by CBA SmartBrief readers in the past week.

  • Results based on number of times each story was clicked by readers.
  CBA Connect 
  • CBA LIVE Early Bird Savings -- Register by Dec. 21
    Register by Dec. 21 and get the best rates for CBA LIVE 2013. Early birds save $300 and CBA Members can save even more with group discounts. Come to CBA LIVE 2013, March 11-13 in Phoenix and get the latest, most in-depth analysis of CFPB developments with tailored sessions across nine areas of retail banking. Now in its fourth year, CBA LIVE features expert panels and distinguished speakers. Make your hotel reservations today at the JW Marriott Desert Ridge Resort and save with special CBA rates. LinkedInFacebookTwitterEmail this Story

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