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January 16, 2013
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News for the retail banking industry

  Top Story 
  • Hunt: Banks must diversify lending, compete with nonbanks
    As the wave of mortgage refinancing subsides this year, banks will need to find other ways to grow their loan portfolios, says CBA President and CEO Richard Hunt. He also said banks are competing with nonbank entities offering more services. "I don't believe a bank's competitor is another bank. I believe it is the prepaid cards or these new 21st-century entities that we are coming across," he said. (subscription required) (1/15) LinkedInFacebookTwitterEmail this Story
  The CFPB Today 
  • CFPB inexperience and delays cost banks, Hunt says
    The Consumer Financial Protection Bureau's examination processes are too long, and its staff is inexperienced, says CBA President and CEO Richard Hunt. The agency can take nine months or more to send banks written reports that follow up on examinations, Hunt and others said. The Associated Press (1/15) LinkedInFacebookTwitterEmail this Story
  • Regulators OK rules for higher-risk mortgage appraisals
    The Federal Deposit Insurance Corp. has signed off on new appraisal standards for higher-risk loans and has allowed an additional year for implementation of the rule. This rule and the Consumer Financial Protection Bureau's qualified-mortgage rule "are key components in addressing the practices that contributed to the worst economic crisis since the Great Depression," said Thomas Curry, comptroller of the currency. Bloomberg (1/15) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Banks urge U.S. to help fend off costly cyberattacks
    Major U.S. banks are arguing that if the attacks on their institutions are state-sponsored, the government should help banks defend against them. Government officials say they have time to determine the best course of action, as the attacks have not yet damaged bank data. Some banks, however, see their business eroding and customers losing trust, and they are encouraging swift action. The Wall Street Journal (1/15) LinkedInFacebookTwitterEmail this Story
  • Prepaid cards target free-spending teens
    Justin Bieber's prepaid card from BillMyParents is seen as part of a wider trend of financial companies trying to woo teenagers, an age group that spends more than $200 billion annually, according to EPM Communications research. But teens have not widely embraced the cards, possibly because they do not want their parents to know how they spend their money, one analyst says. MarketWatch (1/15) LinkedInFacebookTwitterEmail this Story
  • Survey predicts increase in consumer borrowing
    Consumer demand for car, home and other loans will rise in the next six months, say 61% of risk managers in a fourth-quarter survey sponsored by Fico. That's up from 48% who predicted an increase three months earlier. "With both the job market and real estate sector showing signs of life, American consumers may be willing to fund their lifestyles by taking on more debt. And it appears that banks are willing to oblige," said Andrew Jennings, Fico's chief analytics officer. (free registration) (1/15) LinkedInFacebookTwitterEmail this Story
  The Future of Money 
  Thought Leadership 
  • Krawcheck: Banks must continue work to rebuild customer trust
    Banks seeking to improve customer trust should appoint a consumer ombudsman who reports to the board and focus their volunteer efforts on helping families with financial planning, writes former bank executive Sallie Krawcheck. Among other suggestions, Krawcheck also advises against hiding fees, which "may provide greater earnings in the short-term but will remain a long-term drag on customer confidence; and they give a real business opening to new competitors." LinkedIn Blog (1/14) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • Find useful contacts on Google+
    To make Google+ "as addictive as your Facebook feed," use FindPeopleOnPlus to identify which of your LinkedIn and Twitter contacts are active on Google+, John Paul Nettles writes. "You can also search for people to add by criteria such as geography, age, and industry," he writes. (1/14) LinkedInFacebookTwitterEmail this Story
  CBA Connect 
  • CBA LIVE 2013: The Future of Money
    Are you ready for the Future of Money? CBA LIVE 2013, March 11-13 in Phoenix, Ariz., will bring together the top executives in retail banking to learn, exchange ideas and identify solutions to the challenges facing our industry. Our 2012 event was a record-breaking success with more than 1,000 banking leaders in attendance! Now in its fourth year, CBA LIVE features expert panels and distinguished speakers across nine forums of tailored programming. Reserve your space today and join us for this must-attend event. LinkedInFacebookTwitterEmail this Story

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Not in the clamor of the crowded street, not in the shouts and plaudits of the throng, but in ourselves, are triumph and defeat."
--Henry Wadsworth Longfellow,
American poet and educator

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