Top Story

• Judge lets swipe-fee settlement move forward
  U.S. District Court Judge John Gleeson is giving preliminary approval to a $7.25 billion class-action swipe-fee settlement involving Visa, MasterCard and several large banks. He says that arguments from retailers such as Target and Wal-Mart Stores that the deal is too broad are "overstated." The Wall Street Journal/Dow Jones Newswires (11/9)     

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The CFPB Today

• Commentary: Small banks will pay the biggest CFPB price
  The Dodd-Frank Act may end up having a more detrimental impact on small banks, especially as they try to comply with rules from the Consumer Financial Protection Bureau, writes Louise Bennetts of the Cato Institute. Larger banks with corporate clients are able to absorb CFPB rules as "additional red tape," while smaller banks are the focus of the CFPB as it monitors complaints by consumers and students, she writes. AmericanBanker.com (free registration)/BankThink blog (11/9)     

Retail Banking Roundup

• Parents struggle with student loans
  Americans age 60 and older owe $43 billion in student loans, and many are struggling financially because of the debt they assumed for their children's education. Nearly 10% of those borrowers are 90 days past due. Some are declaring bankruptcy, while others are moving in with their children. The New York Times (tiered subscription model) (11/11)     

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Industry News

• Fed gives banks second chance on stress tests
  The Federal Reserve announced it will give banks a second chance when it comes to capital stress tests. The 19 largest institutions will get a preliminary result. They can then take measures, such as altering stock-buyback or dividend policies, to put themselves in a position to pass. The Fed will still publish the initial capital proposal results. Bloomberg (11/9)     

• Survey: Small businesses want more attention from banks
  While small-business banking customers' satisfaction increased in 2012, they still want more, according to a J.D. Power and Associates survey. "When it comes to customer satisfaction, sometimes it really is the little things that matter," said Jim Miller of J.D. Power. "Simple gestures, like greeting customers by name as they walk in, go a long way in providing a satisfying experience. Due to the value of their business to the bank, and how frequently they visit the branch, small-business banking customers expect, and deserve, a level of service that is greater than that of retail banking customers." Hispanic Business (11/11)     

Regulatory Report

• Banks work to meet new regulations
  The re-election of President Barack Obama means bank regulations will likely remain, and banks are working to comply. For example, complaints to the Consumer Financial Protection Bureau have prompted banks such as Wells Fargo to search the Web for irked customers. "Those complaints drive the activity of the CFPB," said Beverly Reynolds, a compliance manager in the bank's fair and responsible lending office. The Star-Ledger (Newark, N.J.) (11/11)     

• Geithner will stay in job for "fiscal cliff" talks
  Treasury Secretary Timothy Geithner, who has indicated he will leave his post in the near future, will stay until President Barack Obama officially begins his second term in 2013, says White House press secretary Jay Carney. "He will obviously be a key participant in the negotiations around the so-called fiscal cliff issues, and the president very much appreciates that," Carney said. The Hill/On the Money blog (11/9)     

• Other News

• Regulators agree to delay Basel III rules
  MarketWatch (11/9)     

Legislative Affairs

• GOP, Dems hopeful on deal to avoid "fiscal cliff"
  Republicans and Democrats are expressing optimism they can reach a budget deal and avoid the "fiscal cliff." "I think there are a lot of ways to skin this cat, so long as everybody comes with a positive, constructive attitude toward the task," said David Axelrod, a top aide to President Barack Obama. Reuters (11/11)     

• Opinions differ over Warren's approach in the Senate
  Elizabeth Warren, the new senator from Massachusetts, is sending some mixed signals about her intentions when she takes her post, and it's not clear whether she will continue to be an active voice against banks or focus on teamwork. "Her strategy will depend on what happens," said Simon Johnson, professor at the M.I.T. Sloan School of Management. "If she doesn't get on the banking committee, then she'll take a more outspoken approach." The New York Times (tiered subscription model) (11/10)     

Technology Today

• Cybercriminals imitate bank customers in latest attacks
  Cybercriminals are still targeting banks, but the latest hacking activity targets customers banking online instead of at bank networks, experts say. Detection of such tactics are very difficult and "it's the scariest way that they commit fraud," said Ryan Elmer, an account executive at Total Networx. Star Tribune (Minneapolis-St. Paul, Minn.) (11/10)     

Career Development

• How to win over a skeptical audience
  Persuasion is a key skill for any leader, writes former Ogilvy & Mather CEO Charlotte Beers. It takes an ability to speak with passion, humility, humor and flashes of unexpected wit to win over a tough audience or persuade skeptical employees to follow your lead. "Speaking with passion born of your own authentic experience and belief is always persuasive," Beers writes. Fast Company online (11/8)     

Hot Topics

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

• CFPB's Cordray gets green light with Obama's re-election (Time.com)

• Data crunchers drove Obama's re-election bid (TIME (subscription required))

• CFPB, Dodd-Frank bolstered by Obama's re-election (AmericanBanker.com (free registration))

• 5 ways you're driving your employees crazy (SmartBrief/SmartBlog on Leadership)

• Obama and Romney in a tight race as election begins (Reuters)

• Results based on number of times each story was clicked by readers.

CBA Connect

SmartQuote

I observe the physician with the same diligence as the disease." --John Donne, British poet, satirist, lawyer and cleric