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November 8, 2012
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News for the retail banking industry

  Top Story 
  • Data crunchers drove Obama's re-election bid
    Data crunchers were at the heart of President Obama's successful re-election bid, gathering, sorting and analyzing a wide range of demographic and other information to effectively target different donor market segments. The combination of data and formulas proved highly effective in a close-to-the-vest, two-year operation. "They are our nuclear codes," campaign spokesman Ben LaBolt says of the effort. TIME (subscription required) (11/7) LinkedInFacebookTwitterEmail this Story
  The CFPB Today 
  Retail Banking Roundup 
  • Hunt: Elimination of mortgage interest-rate deduction unlikely
    One of the proposals to raise government revenues to avoid the "fiscal cliff" is scrapping or limiting the tax deduction for mortgage interest payments, an idea that CBA President Richard Hunt predicts will fail. "There are only so many things you can do while the economy is still in a very tenuous state. I think maybe they'll means test it or put caps on it, but I don't think you'll see its elimination," Hunt says. AmericanBanker.com (free registration) (11/7) LinkedInFacebookTwitterEmail this Story
  • Banks rush to provide loans for disaster-hit small businesses
    Small businesses hammered by Superstorm Sandy are trying to secure disaster loans to stay operational and banks are taking action to help. "We've put in place an expedited process so that clients can call, and we will review their case in a very short period of time - sometimes right on the phone," says Scott Geller, chief executive officer of Chase Business Banking. Reuters (11/6) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Value of a backup plan during disaster brought home
    The power outages and flooding caused by superstorm Sandy proved that technology needs a backup plan -- and sometimes a backup plan to the backup plan, says Colleen Taylor, executive vice president and head of treasury management and enterprise payments at Capital One Financial. A smartphone can be a viable backup when you can't get to the office, but it eventually will run out of battery power, she says, which is why it's a good idea to have another backup -- such as paper and pen. AmericanBanker.com (free registration) (11/7) LinkedInFacebookTwitterEmail this Story
  Regulatory Report 
  Legislative Affairs 
  • What influence will Warren have?
    While some bankers may cringe at the thought of Elizabeth Warren's victory in the U.S. Senate race in Massachusetts, it may be the lesser of two evils, says Douglas J. Elliott, a former JPMorgan Chase banker and now a Brookings Institution fellow. As just one member of Congress, she'll have less power to influence financial industry policy than if she were leading a regulatory agency such as the Consumer Financial Protection Bureau, he says. The New York Times (tiered subscription model)/DealBook blog (11/7) LinkedInFacebookTwitterEmail this Story
  • Observers: Less room for compromise on Dodd-Frank after election
    There may be less room for compromise on making any changes to the Dodd-Frank Act after certain Republicans and Democrats lost their seats in the House, and new members entered committees such as the House Financial Services Committee and Senate banking committee, observers say. "You're going to have some new players," said John Lobert, founder of Lobert Legislative & Regulatory Consulting. "And now you've got Elizabeth Warren in the Senate. The people who are interested in punishing the bankers are still going to be in charge on the administrative side." Business Insurance (tiered subscription model) (11/7) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • 5 ways you're driving your employees crazy
    Even with the best of intentions, many bosses drive their workers absolutely crazy, writes Julie Winkle Giulioni. To boost performance, leaders should stop using employees as idea guinea pigs and simply focus on removing irritants such as red tape, unclear expectations and time-wasting activities. "Employee engagement, motivation, and results are less about introducing new leadership behaviors and more about just stopping the stuff that makes employees crazy," Giulioni writes. SmartBrief/SmartBlog on Leadership (11/5) LinkedInFacebookTwitterEmail this Story
  CBA Connect 
  • Don't miss CBA LIVE 2013, March 11-13, in Phoenix, Ariz.
      
    Now in its fourth year, CBA LIVE features expert panels and distinguished speakers. Get the latest, most in-depth analysis of CFPB developments and choose from tailored sessions across nine areas of retail banking: Auto Finance, Community Reinvestment, Default Management, Deposits & Payments, Digital Channels, Fair Lending, Home Equity Lending, Small-Business Banking and Student Lending. Register by Dec. 21 and save $300. LinkedInFacebookTwitterEmail this Story

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  SmartQuote 
Leave other people's mistakes where they lie."
--Marcus Aurelius,
Roman emperor


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