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December 14, 2012
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News for the retail banking industry

  Top Story 
  • CFPB proposes test program for disclosures
    The Consumer Financial Protection Bureau wants to give lenders flexibility to test new consumer disclosures for products including mortgages and credit cards. Under its proposal, the CFPB would give lenders a waiver from existing laws to test new disclosures. "As part of our efforts to foster innovation in consumer financial markets, the proposed policy will allow companies to conduct real world trials of disclosure alternatives," CFPB Director Richard Cordray said. (free registration) (12/13) LinkedInFacebookTwitterEmail this Story
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  Industry News 
  • Cyberattack is planned on 30 U.S. banks, firm warns
    A cyberattack aimed at stealing millions of dollars from 30 American banks is set to be launched in the spring, warns security firm McAfee. The attack, known as "Project Blitzkrieg," has already been tested on bank accounts by the cybercriminals, who were recruited with promises of earning a cut of the stolen funds. CNNMoney (12/13) LinkedInFacebookTwitterEmail this Story
  • Other News
  Legislative Affairs 
  • TAG extension grinds to a halt in Senate
    A bill that would extend the Transaction Account Guarantee through 2014 didn't advance in the Senate after Sen. Pat Toomey, R-Pa., raised a budget point of order about the bill that Democrats could not overcome. "We're not in a financial crisis anymore," Toomey said. "There's no question our economy is lousy, but it's not a financial crisis." The Hill/Floor Action blog (12/13) LinkedInFacebookTwitterEmail this Story
  • Commentary: Rep. Hensarling plans to regulate the regulators
    Columnist Stephen Moore writes that Rep. Jeb Hensarling, R-Texas, the House Financial Services Committee's incoming chairman, sees his position as regulating various financial regulatory agencies, including the Securities and Exchange Commission. Hensarling also noted his top priorities, which include resolving the "too big to fail" doctrine in the Dodd-Frank Act. Authorities must eliminate the "market perception that big banks are taxpayer-protected," he said. The Wall Street Journal (12/13) LinkedInFacebookTwitterEmail this Story
  • Other News
  The Future of Money 
  • Chase uses statements with QR codes to promote banking app
    Chase Slate card members will receive a QR code on the envelopes containing their paper statements, which they can scan to learn about and download Chase's mobile banking application. "The strategy for a financial institution to use QR codes is the ability to engage the end-user and create a sense of loyalty. ... As younger generations are in general more difficult to connect with and create loyalty, using a QR code to further engage and build a relationship from the onset would prove quite rewarding," commented Bobby Marhamat, founder of Hipscan. (12/13) LinkedInFacebookTwitterEmail this Story
  • MasterCard teams with C-SAM for mobile wallets
    MasterCard is making a bet on mobile wallet infrastructure by purchasing a minority stake in C-SAM. MasterCard's move follows a marketing partnership with the Chicago-based company, which provides back-end services for mobile wallets, such as management infrastructure and software development. TechCrunch (12/12) LinkedInFacebookTwitterEmail this Story
  Members in the News 
  • Regions CEO says focus is on organic growth
    Grayson Hall, CEO of Regions Bank, says his institution is not among the "too big to fail" banks that regulators could prevent from growing through mergers, but he is still not looking for that kind of growth. "We're focused on organic growth," he said. "We're focused on serving our customers with a high level of service and proving to the market and to ourselves that we're in a position of strength and could acquire and could do so successfully. It's absolutely coming, but I just think it's a little early." American City Business Journals/Birmingham, Ala. (12/11) LinkedInFacebookTwitterEmail this Story
  • Other News
  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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The best preparation for tomorrow is to do today's work superbly well."
--William Osler,
Canadian physician

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