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January 11, 2013
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News for the retail banking industry

  Top Story 
  Industry News 
  • AmEx will cut 5,400 jobs, mostly in travel division
    American Express will scale back its travel division as part of a plan to reduce its workforce by 5,400. CEO Kenneth Chenault cited the explosion in online travel sites, saying that the travel business "is being fundamentally reinvented as a result of the digital revolution." The Wall Street Journal (1/10) LinkedInFacebookTwitterEmail this Story
  Regulatory Report 
  • Geithner's legacy forged from controversy and crisis
    Timothy Geithner may go down as one of the most influential Treasury Department secretaries as he helped deal with the financial crisis and recession, experts say. Geithner achieved "the elevated status of being the guy who made the toughest and loneliest calls at the most politically perilous moments -- and turned out to be right," says National Economic Council Director Gene Sperling. The New York Times (tiered subscription model) (1/10) LinkedInFacebookTwitterEmail this Story
  • Fed gives U.S. a record $88.9B
    The Federal Reserve paid the U.S. government a record $88.9 billion in 2012, a 17.9% increase from $75.4 billion in 2011. The central bank earned the money from the mortgage-backed securities and Treasury bonds it has bought. The previous record was $79.3 billion in 2010. The Washington Post/The Associated Press (1/10) LinkedInFacebookTwitterEmail this Story
  The Future of Money 
  • Outside experts help banks fend off cyberattacks
    Banks are using outside companies to help them deal with the denial-of-service cyberattacks on their websites in recent months, experts say. "The attacks are like Niagara Falls trying to fit into a narrow pipe," said Bill Nelson, president of the Financial Services Information Sharing and Analysis Center. "No website can handle it. But these guys have the tools to handle it, so it really makes a lot of sense to outsource to them. I think it's been very effective." The Huffington Post (1/10) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • Are you afraid to ask for help?
    Get over your fear of being rejected or looking stupid and ask your network for what you need, Deb Mills-Scofield writes. If you don't, you are "in essence saying 'no' before the question has even been asked -- saying no to opportunities that change our businesses, our organizations, ourselves ... and actual lives," she writes. Harvard Business Review online/HBR Blog Network (1/8) 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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  SmartQuote 
The most valuable of all talents is that of never using two words when one will do."
--Thomas Jefferson,
3rd U.S. president


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