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- Fiscal talks will drag until holiday deadline nears, insiders say
House Republicans on Monday proposed cutting $2.2 trillion from the federal deficit through spending cuts, entitlement reforms and $800 billion in new tax revenue. The White House rejected the proposal, saying it didn't "meet the test of balance." Despite the apparent gridlock, observers say the "fiscal cliff" negotiators will begin to make progress as time runs out and Christmas approaches. "There is a desire to maximize your negotiating position until you realize you don't have any room any more to negotiate," said Sen. Roy Blunt, R-Mo. "It almost invariably works that way." Reuters
(12/3), The Hill
(12/3)     
- Survey: Consumers are open to mortgages from alternative lenders
A study by Carlisle & Gallagher Consulting Group found that many consumers are willing to consider mortgages from companies such as Wal-Mart Stores and PayPal. Neither company currently offers mortgages, although both provide some lending services. "There is a real threat from new entrants," said Doug Hautop of Carlisle & Gallagher. Fox Business/Reuters
(12/3)
| Industry News | | |
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Equifax purchase could mean better rates for banks: The Equifax deal with Computer Sciences Corp. could prompt some banks to seek better prices on credit reports, experts say. Banks have been paying both companies, but with the acquisition, "the big boys, who buy tens of millions of products a year, may see this as an opportunity to beat them up on price a bit," says John Ulzheimer of SmartCredit.com. AmericanBanker.com (free registration)
(12/3)
| Legislative Affairs | | |
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| The Future of Money | | |
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- Mobile wallets catch on for ease of payments, enhanced shopping
With big brands such as Starbucks aggressively pushing mobile payments, the technology is catching on. "Our mobile-wallet survey found that 48% of consumers are interested in alternative payment options and 27% are interested in using technology such as smartphones and tablets to enhance their overall shopping experience," said Peter Olynick of Carlisle & Gallagher Consulting Group. Half of today's smartphone users will be paying with mobile wallets within five years, he said. MobileCommerceDaily.com
(12/3)
- Dwolla offers mobile payments without a Dwolla account
Consumers making mobile purchases can now do so through Dwolla -- without having a Dwolla account -- by making a one-time payment through their bank. "One of the big pain points [for Dwolla] was that to make a payment online, you had to have a Dwolla account and you had to have money in that account. So what we're doing with this is saying, 'Let's cut ourselves out of the equation,' " said Dwolla communications lead Jordan Lampe. TechCrunch
(11/30)
| People and Personalities | | |
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- Krawcheck seen as viable contender for SEC top post
Former banking executive Sallie Krawcheck has been meeting with lawmakers in recent months, fueling speculation that she might be a contender for the Securities and Exchange Commission chairmanship or some other regulatory position. "She has always been willing to take controversial views and she gets the industry," says Gary Black of Calamos Asset Management, who worked with Krawcheck. "She brings a practical view on how to regulate the industry." Reuters
(12/3)
| Career Development | | |
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- Phrases that flow easily from the mouths of great leaders
The business world is full of examples of leaders who have failed because of their self-interested natures, so it's a good idea to be humble, Steve Tobak writes. Leaders should learn to say they're sorry, admit they don't have all the answers and be willing to take responsibility for mistakes. "Leaders who make excuses are poor excuses for leaders," he writes. CBS MoneyWatch
(11/27)
| CBA Connect | | |
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CBA's Joe Belew Award
CBA is excited to announce the launch of the third annual Joe Belew Award competition. Each year, we are proud to honor the memory of former CBA President Joe Belew for his commitment to community development. The 2013 competition focus is Creating and Maintaining Affordable Housing. Download the application and submit your entries by Jan. 9. We look forward to learning about all our banks' innovative programs. Contact CBA for more information.
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