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March 22, 2012
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News for the retail banking industry

  Introduction 
  • CBA LIVE 2012 Wrap-Up
      
    CFPB Director Richard Cordray and CBA President Richard Hunt
    Welcome to the wrap-up of CBA LIVE 2012. Over the past three days in Austin, we heard from dynamic speakers such as Gallup Chairman and CEO Jim Clifton, who discussed strategies for banks in rebuilding and strengthening their reputations and relationships with customers and employees. Clifton urged banks to rewrite their missions, saying, "Get your mission developed from the front lines." We also heard about the mission and work of the Consumer Financial Protection Bureau from several agency officials, including CFPB Director Richard Cordray. CBA appreciates Cordray's address to our conference attendees, and we look forward to continuing our relationship with the CFPB. In addition to our outstanding speakers, this year's conference featured a successful new forum focused on emerging channels, with sessions covering topics such as how banks can win the payments war. Keep reading this special report for more highlights and coverage of CBA LIVE 2012. LinkedInFacebookTwitterEmail this Story
  • Thanks to all who made CBA LIVE 2012 a success
      
    CBA President Richard Hunt @cajunbanker
    CBA LIVE 2012 was packed with compelling analysis from leaders in the industry, and we'd like to thank all of the general session and forum speakers whose insights made the conference so valuable for all who attended. Thank you to the nearly 1,000 attendees who traveled to Austin for this event, to the CBA committee chairs and members who helped shape such a strong program, and to our premier sponsors and our exhibitors. Our board of directors also deserves thanks for supporting and playing such an active role in the event. We are already planning CBA LIVE 2013, another must-attend event, and we look forward to seeing you in Scottsdale, Ariz. from March 11 to 13. LinkedInFacebookTwitterEmail this Story
  News from CBA LIVE 
  • Cordray: Bank size could affect CFPB regulations
    The Consumer Financial Protection Bureau will write rules for all banks, but in some cases, it could allow flexibility for smaller banks that would struggle with compliance, CFPB Director Richard Cordray said at CBA's annual event, CBA LIVE. But drawing those distinctions will be "very contextual and whether they make sense can vary and again will depend on facts and circumstances," Cordray said. AmericanBanker.com (free registration) (3/21) LinkedInFacebookTwitterEmail this Story
  • Student-loan debt could slow housing recovery, CFPB says
    The total U.S. student-loan debt, at more than $1 trillion, is 16% higher than an earlier estimate by the Federal Reserve Bank of New York, according to the Consumer Financial Protection Bureau. Student debt could hurt the housing market, said Rohit Chopra, the CFPB's student-loan ombudsman, at CBA's annual event, CBA LIVE. "Instead of saving for a down payment, these borrowers are sending big payments every month," he said. The bureau plans to release a study on student debt this summer. The Wall Street Journal (3/21), FireDogLake.com (3/21) LinkedInFacebookTwitterEmail this Story
  • Banks should speak in a clear language, Cordray says
    Financial institutions should use clear and simple terms when communicating with customers, Consumer Financial Protection Bureau Director Richard Cordray said at CBA's annual event, CBA LIVE. "This kind of straightforward transparency promotes more informed and more responsible decision-making by consumers across a number of financial markets," he said. Bloomberg Businessweek (3/21) LinkedInFacebookTwitterEmail this Story
  • Carville: Smart institutions focus on changing their reputation
      
    The banking industry has taken a hit, like many other industries, as the U.S. goes through tough economic times, said James Carville, CNN political contributor and a speaker at CBA LIVE. "Smart institutions and smart organizations will spend less time bemoaning the fact that they are held in less esteem than they used to be and more time understanding why and what can they do to change that," Carville said in an interview. YouTube (3/20) LinkedInFacebookTwitterEmail this Story
  • "Trust factor" is key for banking industry, Hunt says
    Trust, transparency and transformation were key themes at CBA LIVE 2012, said CBA President Richard Hunt in this video interview. "The real issue facing our industry is the trust factor," he said. "We have to reconnect with our customer and our own employees." YouTube (3/20) LinkedInFacebookTwitterEmail this Story
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  Quotes from the Event 
  • Quotes
    "The market won't work if they don't." -- Richard Cordray, CFPB director, speaking about banks' right to make a profit

    "I think the CFPB is run by some very smart people who are on a high-wire act until the election." -- Jo Ann Barefoot, co-chair of Treliant Risk Advisors

    "Of the 6 million small businesses, 75% of them aren't interested in growing." -- Jim Clifton, Gallup chairman and CEO

    "Clearly this isn't a supply issue. We are seeing a lower level of demand overall." -- Mark Luppi, HSBC Bank USA's executive vice president and head of business banking, speaking about small-business lending

    "Like we used to say during the Clinton years ... mistakes were made." -- James Carville, CNN political contributor, speaking about the industry repairing its reputation LinkedInFacebookTwitterEmail this Story
  Award Winners 
  • 2012 Joe Belew Award Winner: Wells Fargo's SFMade
    SFMade Manufacturing Incubation and Growth program, sponsored by Wells Fargo, is this year's winner of the Joe Belew Award. The award, announced at CBA LIVE, was established in 2011 in memory of the former CBA president and his commitment to community development. The award annually recognizes CBA member banks for their innovative community development programs that address a significant societal need. The issue of focus selected by CBA for 2012 was job creation. As the nonprofit partner of the winning bank, SFMade received $5,000. Read more about this program -- as well as the other finalists' programs -- at the Joe Belew Award Online Library. LinkedInFacebookTwitterEmail this Story
  • CBA LIVE attendees name Bernanke as Economic Champion
    Federal Reserve Chairman Ben Bernanke won CBA's Economic Champion contest by a landslide, securing 81.5% of CBA LIVE attendees' votes. The March Madness bracket-style contest asked the question: Who do you think has the vision, leadership, knowledge, experience and integrity to turn around the U.S. economy and lead us to prosperity? LinkedInFacebookTwitterEmail this Story
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