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December 12, 2012
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News for the retail banking industry

  Top Story 
 
  • Reaching out to customers is key for growth, Kottler says
    Getting active in the community and spending time with customers is key in winning business, says Bob Kottler, director of retail and small-business banking at IberiaBank and CBA chairman. "If you talk to [CBA] member banks and Iberia, we want to do everything and take care of all of the financial needs of our customers, whether it be deposits, Treasury management, loans or the business of the owner and their family," he said. In this interview, Kottler also discusses IberiaBank's recent growth and future plans. AmericanBanker.com (subscription required) (12/11) LinkedInFacebookTwitterEmail this Story
How Risk Aversion Motivates Executives
Using this particular incentive to motivate leaders promotes caution—and encourages underperformance, according to research from Kellogg School of Management Professor David Matsa. Read More
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  The CFPB Today 
  • Senate passes legislation on CFPB privacy, ATM placards
    The Senate has passed a measure requiring that confidential bank information given to the Consumer Financial Protection Bureau be kept private. The Senate also passed legislation stating that fee-disclosure signs no longer have to be placed at ATM machines if on-screen disclosures are made. President Barack Obama is expected to sign both measures. The Wall Street Journal (12/11) LinkedInFacebookTwitterEmail this Story
  • CFPB's ongoing study of arbitration sparks debate
    As the Consumer Financial Protection Bureau studies arbitration agreements that financial institutions have with customers, lobbying for and against such agreements grows stronger, experts say. CBA and other groups argued this year that arbitration agreements should be evaluated for their benefits to consumers alongside class-action lawsuits. The CFPB has not indicated when it will release the findings of its study, which lawmakers requested. AmericanBanker.com (free registration) (12/10) LinkedInFacebookTwitterEmail this Story
  • CFPB shuts down Calif. firms for alleged mortgage scams
    The Consumer Financial Protection Bureau ordered the National Legal Help Center and Gordon Law Firm to stop operating while it investigates loan modification scams. The CFPB says the law firm and help center made false claims to homeowners that they could get troubled mortgages renegotiated and stop foreclosures, earning more than $10 million from consumers. Housing Wire (12/11) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Bank's refusal to pay dividends could upend TARP auctions
    An Ohio bank last month decided not to pay its quarterly dividend to an investor group that purchased shares in a Troubled Asset Relief Program auction. The CEO of CenterBank said the bank wants to keep its capital close to home "as opposed to sending it to New York." The action could frighten away future TARP investors who worry about dividend deferrals, experts say. AmericanBanker.com (free registration) (12/11) LinkedInFacebookTwitterEmail this Story
  Regulatory Report 
  • Fed steers large banks away from acquisitions
    Sources say the Federal Reserve is discouraging large U.S. banks from acquisitions as the debate continues over the risk those banks pose to the financial system. For example, U.S. banks interested in acquiring Bank of America's non-U.S. wealth-management operations didn't pursue a purchase after informal talks with the Fed, sources say. "The Fed looks like it is drawing a new line in the sand," said RBC Capital Markets banking analyst Gerard Cassidy. The Wall Street Journal (12/11) LinkedInFacebookTwitterEmail this Story
  Legislative Affairs 
  • Senate advances TAG extension
    The Senate has advanced a bill calling for the Transaction Account Guarantee program to be extended through 2014. Senators are expected to continue working on the bill, which would keep $1.4 trillion insured by the government. The Hill/Floor Action blog (12/11) LinkedInFacebookTwitterEmail this Story
  The Future of Money 
  • Additional cyberattacks will target 5 banks, group claims
    Five banks are being threatened with more cyberattacks by the group claiming responsibility for service disruptions in the last few months. The Izz ad-Din al-Qassam Cyber Fighters Group says it is targeting JPMorgan Chase, Bank of America, U.S. Bank, PNC Financial and SunTrust. PNC this week warned online banking customers about potential disruptions. Pittsburgh Tribune-Review (12/11) LinkedInFacebookTwitterEmail this Story
  CBA Connect 
  • Today! CBA Webinar Series presents: Snacks, Lunches and Fine Dining: Understanding Consumer Financial Interactions in a Multi-Channel World
      
    Dec. 12 at 2 p.m. EST
    Sponsored by Fiserv
    REGISTER NOW

    Customer expectations and behaviors are affecting the way financial services are delivered and consumed across banking channels. Customers expect consistent information at every access point, yet their interactions diverge by channel. They snack via the mobile channel with fast and frequent interactions. They lunch online as they spend time comparing products on the menu. Branch visits are like fine dining, with lively conversation that drives high-value decisions.

    • Understand how different channels are best suited to different activities and customer needs
    • Learn what to prioritize for digital channel deployment
    • Discover opportunities for reaching new customers and reinforcing existing relationships through channel optimization
    LinkedInFacebookTwitterEmail this Story

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  SmartQuote 
Thinking is like loving and dying. Each of us must do it for himself."
--Josiah Royce,
American philosopher


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