| News for the retail banking industry |  |
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- Boehner's "fiscal cliff" plan hits a wall in the House
House Speaker John Boehner, R-Ohio, was forced to abandon his "fiscal cliff" proposal, aimed at extracting more concessions from President Barack Obama, when it became clear there wasn't enough support to pass the "Plan B" in the Republican-controlled House. Boehner's inability to produce enough votes for his own plan raises the level of uncertainty about whether Republican leaders and Obama can reach a deal before the year ends. Reuters
(12/21), The Washington Post
(12/20), USA Today
(12/21)     
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Democrats blast GOP for targeting Dodd-Frank in tax package: Democrats on Thursday criticized Republicans for including measures in their now-stalled "Plan B" budget bill that would have slashed in half the Consumer Financial Protection Bureau budget and place it under congressional control. Other measures would have scrapped the Office of Financial Research and repealed the Dodd-Frank Act provision for regulators to use taxpayer money to wind down troubled banks. The Hill/On the Money blog
(12/20)
| The CFPB Today | | |
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| Industry News | | |
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| Regulatory Report | | |
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- OCC: Low interest rates will continue to stress margins
According to a report from the U.S. Office of the Comptroller of the Currency, banks whose margins are already squeezed will continue to struggle with low interest rates in the coming year. The report also says that big banks "face fundamental changes in their business models as a result of weakening revenue growth, including shifts in the role of trading, securitization, and consumer fee income." Bloomberg
(12/20)
| The Future of Money | | |
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- Mobile apps for reloadable prepaid cards open new doors
Mobile applications for reloadable prepaid cards from banks such as PNC Bank and U.S. Bancorp are becoming more popular, providing banks with opportunities to interact with customers, including the underbanked, experts say. "A lot of research shows that underbanked customers are more likely to have smartphones than the average population," says Rob Levy, research director at the Center for Financial Services Innovation. AmericanBanker.com (free registration)
(12/19)
- NFC payments envisioned as a gradual movement, not a revolution
If NFC-enabled mobile payments ultimately win consumers' hearts, it won't be because of any revolutionary technical merits, but because they offer an incrementally better experience, augmenting credit cards rather than replacing them, according to some participants at an MIT forum this week. "It's a better way of using your plastic. You don't necessarily need a proposition that something has to be 10 times better," said Mung Ki Woo, head of mobile at MasterCard. MediaPost Communications/The Third Screen blog
(12/18)
| Career Development | | |
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- Don't rely on cookie-cutter leadership strategies
Leadership shouldn't rely too much on uniform, "six steps to managing"-type leadership guides, says Karl Heiselman, CEO of Wolff Olins. Every employee is different, and bosses need to tailor their approaches to individual workers' needs. "[W]hen you're communicating with somebody ... you're trying to get the best work out of them. The way you do that is not the same for everybody," Heiselman says. The New York Times (tiered subscription model)
(12/15)
| CBA Connect | | |
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CBA LIVE Early Bird Savings -- Register by Dec. 21
Register by Dec. 21 and get the best rates for CBA LIVE 2013. Early birds save $300 and CBA Members can save even more with group discounts. Come to CBA LIVE 2013, March 11-13 in Phoenix and get the latest, most in-depth analysis of CFPB developments with tailored sessions across nine areas of retail banking. Now in its fourth year, CBA LIVE features expert panels and distinguished speakers. Make your hotel reservations today at the JW Marriott Desert Ridge Resort and save with special CBA rates.
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