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March 12, 2013
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Highlights and featured programming from CBA LIVE 2013, the must-attend event for leaders in retail banking

  LIVE from Phoenix 
  • CBA LIVE Day 2: Focus on the CFPB, future of branches
    Today's events kicked off with a rapid-fire panel discussion of the Consumer Financial Protection Bureau, and representatives from the agency joined us at general sessions and forums throughout the day. A key theme of the day was the future of branches. Brett King, author of "Bank 3.0," offered a glimpse of a future without physical banks, and afterward six bankers squared off "Family Feud" style on the topic. Both sides offered convincing arguments on whether branches will fade away or remain a hub of person-to-person interaction in banking. LinkedInFacebookTwitterEmail this Story
  Daily Recap 
  • CFPB's Steven Antonakes discusses agency's work
      
    Steven Antonakes, the Consumer Financial Protection Bureau's acting deputy director and associate director for supervision, enforcement and fair lending, outlined the agency's new mortgage servicing and lending rules, which he said are meant to protect consumers and provide greater stability in the mortgage marketplace. The bureau is aware of the challenges the industry faces in implementing complex rules quickly, and it plans to release videos and other guidance materials this spring, Antonakes said. In a question-and-answer conversation with CBA President and CEO Richard Hunt, Antonakes said the agency is still standing up its supervisory team and working to standardize its practices across the country. He explained the bureau's requests for large amounts of data, saying, "You need data to make good, rational decisions, and that is the course we are trying to navigate." Antonakes urged CBA LIVE attendees to engage with examiners if requests are redundant or time frames too short. LinkedInFacebookTwitterEmail this Story

  • Brett King: It's a disruptive time for branch banking
    Consider how the music and book industries have seen fundamental changes as consumer preferences shifted in recent years, Brett King, author of "Bank 3.0" and founder of Movenbank, challenged CBA LIVE attendees. Consumers have moved from buying physical products in physical stores, to physical products in digital stores, and finally to digital products in digital stores, nearly wiping out the need for physical stores. King argues that banking is no different, and branches are on the way out. "This is a very disruptive time," he said, noting that banking customers are already demanding more products and services digitally, especially via smartphones. He cited Federal Reserve data showing that last year, 85% of people visited bank branches only about 3 times, down from about 26 times in 1995. The question isn't how to get customers back into branches, he said. The question to ask is how banks can serve consumers' changing behaviors. LinkedInFacebookTwitterEmail this Story
  • Are branches dead or alive?
      
    When Superstorm Sandy hit, bank customers couldn't use their electronic devices for banking, and they came to branches to get cash and interact with people, said Linda Verba, executive vice president, retail operations/service programs for TD Bank. In this morning's debate over whether bank branches will play a significant role in the future of banking, Verba defended the branch. "We are in the people business, and absent a customer, you have no business," she said. On the other side, Gene Kirby of New Market Partners, argued that banks are facing tremendous pressure on expenses, and most branches are already staffed at minimum levels, meaning further cuts will require branch closings. Banks can't afford to keep making 20- and 30-year investments in new branches, Kirby said, and those that do will regret it in years to come. Others participating in the debate were Rip Howard, retail group executive, BB&T; James McCormick, president, First Manhattan Consulting Group; Brett King, author of "Bank 3.0"; and Kevin Travis, partner, Novantas. LinkedInFacebookTwitterEmail this Story

  • Regulators share their insights at CBA LIVE
    Representatives of the Consumer Financial Protection Bureau, Federal Reserve and Federal Deposit Insurance Corp. were among today's forum speakers and panelists. In one forum, the CFPB's Richard Hackett, assistant director, and Patrice Ficklin, assistant director, fair lending and equal opportunity, discussed the need for auto lenders to monitor policies that allow discretion, such as dealer markups, for potential discriminatory practices. Lenders should not assume they are liable only if they had actual knowledge of the discrimination, Ficklin said. LinkedInFacebookTwitterEmail this Story
  • What's the latest on the CFPB and Capitol Hill?
      
    The Consumer Financial Protection Bureau is struggling with resources, hiring and training like any startup would, and that has created challenges when it comes to supervision, said Steve Zeisel, CBA executive vice president and general counsel. Zeisel was one of four experts who, along with CBA Board Member Susan Faulkner of Bank of America, offered insights and commentary on the CFPB and actions in Congress. Jo Ann Barefoot, co-chair of Treliant Risk Advisors, applauded the CFPB for its awareness that regulating an area of banking too tightly could drive consumers to other players. Shelley Leonard, senior vice president, consumer lending strategy, Lender Processing Services, and Pace Bradshaw, CBA's vice president of congressional affairs, shared their insights on what to expect for the year ahead. LinkedInFacebookTwitterEmail this Story

  Coming Up Tomorrow 
  • A student lending conversation with the CFPB
    The Consumer Financial Protection Bureau's Rohit Chopra, assistant director and student loan ombudsman, and Eric Reusch, program manager, student & auto lending markets, will discuss the latest trends and upcoming initiatives in the student lending market. Chopra and Reusch will take questions from CBA LIVE attendees.
    7:30 - 8:30 a.m. | Grand Sonoran A-B LinkedInFacebookTwitterEmail this Story
  • Stephen Steinour, American Banker's Banker of the Year
      
    Stephen Steinour, president and CEO of Huntington Bank, who American Banker chose for its Banker of the Year award, has not waited on the economy to recover before expanding his bank. Huntington Bank has expanded while other banks contracted, and it has added branches while other banks are closing them. Hear Steinour's insights in this general session event. Barbara Rehm, American Banker's editor at large, will moderate.
    9:40 - 10:30 a.m. | Grand Saguaro North South LinkedInFacebookTwitterEmail this Story

  • America's Got Talent -- Do you?
    It's time for banks to get on board or lose out on top talent. Banking is changing and industry leaders are evolving. In this session, top recruiters will share lessons from the edge. Get incomparable insights on how to future-proof your career and attract tomorrow's leaders to your institution.
    10:30 - 11:30 a.m. | Grand Saguaro North South LinkedInFacebookTwitterEmail this Story
  More Resources 
  • Download the free CBA LIVE 2013 App
    Stay on top of all CBA LIVE program details with the free app, available for the iPhone, iPad, Android, and BlackBerry. Sponsored by Nomis Solutions. LinkedInFacebookTwitterEmail this Story
  • Don't forget to tweet!
    Use hashtag #CBALIVE to continue the conversation and share your CBA LIVE experience. Also, connect with CBA on Facebook and LinkedIn.

    Tweets from today's sessions:

    Daniel Wagner ‏@wagnerreports
    CFPB Deputy Chief Steve Antonakes tells thousands of bankers "We're dating, but not exclusively." Ouch. #CBALive

    neffhudson ‏@neffhudson
    Legendary banker Rip Howard: "If someone has a problem that needs to be solved, they want to go to a branch." #CBALIVE

    Tiffani Montez ‏@tiffanimontez
    "Regulators don't regulate consumer behavior, they regulate our behavior" Well said, customers will do it with or without you. #cbalive LinkedInFacebookTwitterEmail this Story
  

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