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December 27, 2012
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News for the retail banking industry

  Top Story 
  • New ways of thinking about banking in the new year
    Banks in 2013 should consider new methods of customer authentication as standard questions become less secure, according to American Banker. Also on the magazine's list of "10 big ideas" for the new year is looking beyond traditional credit-score data for evaluating creditworthiness and offering new types of operational support for small businesses. American Banker magazine (1/2013) LinkedInFacebookTwitterEmail this Story
  The CFPB Today 
  • Consumer group seeks limits on deferred-interest cards
    The National Consumer Law Center plans to ask the Consumer Financial Protection Bureau to restrict deferred-interest credit cards. Stores offering the cards can charge interest on the full purchase amount after the no-interest period ends, even if the card holder has paid off most of the balance. Rates can be as high as 25%. Jones Newswires (12/26) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Opinion: Why private student loans shouldn't be discharged
    Amending the bankruptcy code to allow discharge of private student loans in bankruptcy, as some lawmakers want to do, is not a wise policy decision, writes John Hupalo, CEO of Invite Education. Struggling young borrowers might seek bankruptcy without appreciating its long-term consequences, he writes, and interest rates would likely rise as lenders seek to cover their costs. U.S. News & World Report (12/26) LinkedInFacebookTwitterEmail this Story
  Legislative Affairs 
  • Policymakers prep final push to avert "fiscal cliff"
    With President Barack Obama and members of the Senate headed back to Washington, D.C., political leaders are preparing to make a final attempt at averting the "fiscal cliff" that economists have said could return the U.S. into a recession. In a sign that there may be a way to break the standoff, House Speaker John Boehner, R-Ohio, urged the Senate, where Democrats hold the majority, to offer a proposal that could restart movement toward a budget compromise. Reuters (12/26), Politico (Washington, D.C.) (12/26), Bloomberg (12/26), The Hill/On The Money blog (12/27) LinkedInFacebookTwitterEmail this Story
  • Government will hit debt limit Monday, Geithner warns: The U.S. will reach its debt limit Monday, Treasury Secretary Tim Geithner said Wednesday in a letter to Congress. As lawmakers seek a fiscal deal, Geithner said the Treasury can take special measures temporarily to prevent the government from exceeding its limit and defaulting on debt. CNNMoney (12/26), Financial Times (tiered subscription model) (12/26) LinkedInFacebookTwitterEmail this Story
  People and Personalities 
  • Warren will walk softly at first, analysts say
    Sen.-elect Elizabeth Warren, D-Mass., won't seek to make a big splash early on as a senator, some analysts say. So far, she appears to be following the example set by Hillary Clinton, which was to keep a low profile and avoid interviews with the national media initially. The Wall Street Journal (12/26) LinkedInFacebookTwitterEmail this Story
  Career Development 
  CBA Connect 
  • CBA's Banking on Youth Competition -- Call for Sponsors
    Now is your chance to join fellow bankers to support the 2013 Banking on Youth Competition. The program's inaugural year was a great success with 13 sponsoring banks and more than 170 entries from youth teams across 33 states. Sponsorship opportunities for 2013 are still available, ranging from $3,000 to $40,000. Visit our website and learn how you can support this growing competition and connect with America's young entrepreneurs to build sustainable ventures. Contact CBA for more information. LinkedInFacebookTwitterEmail this Story

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People who lean on logic and philosophy and rational exposition end by starving the best part of the mind."
--William Butler Yeats,
Irish poet and playwright

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