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February 8, 2013
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News for the retail banking industry

  Top Story 
  • Senate panel sets hearing to check Dodd-Frank progress
    Next week, the Senate banking committee will hear from seven regulatory officials on their progress in instituting Dodd-Frank Act rules. Elisse Walter, chairman of the Securities and Exchange Commission; Gary Gensler, chairman of the Commodity Futures Trading Commission; and Richard Cordray, director of the Consumer Financial Protection Bureau, are among those scheduled to testify. Reuters (2/7) LinkedInFacebookTwitterEmail this Story
  The CFPB Today 
  • Portman positions himself to broker deal on Cordray, CFPB
    Sen. Rob Portman, R-Ohio, says he wants to try to be a "go-between" between President Barack Obama and Senate Republicans, who oppose the re-appointment of Consumer Financial Protection Bureau Director Richard Cordray because of the way the agency is structured and its lack of accountability to Congress. Portman says he is urging Cordray to look for a reasonable position. "I do get the sense from Rich Cordray that he understands the importance of these issues, and these are issues of accountability," Portman said. The Plain Dealer (Cleveland) (2/7) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Discover expands reach through innovative partnerships
    Discover is ramping up innovation and growth efforts by partnering with companies such as Facebook and PayPal, and welcoming business that might be rejected by bigger players like MasterCard or American Express, experts say. "Discover has to find a way to get cards into the hands of more people, get top of wallet and drive purchase volume. They will enter into lots of different partnerships that will help them do that," said Ron Shevlin, an Aite Group senior analyst. (free registration) (2/7) LinkedInFacebookTwitterEmail this Story
  • Small businesses are wary about hiring
    The small-business sector holds a relatively gloomy outlook. Although layoffs have slowed, there's no rush to a hiring binge. A Wells Fargo/Gallup Small Business Index report notes "essentially no improvement in small business job growth over the past two years." However, a small-business hiring index reached -10 last month, up considerably from -27 in January 2010. The Star-Ledger (Newark, N.J.) (2/6) LinkedInFacebookTwitterEmail this Story
  Regulatory Report 
  • OCC creates a position for enterprise governance
    Larry Hattix, the ombudsman for the Office of the Comptroller of the Currency, will become the OCC's senior deputy comptroller for enterprise governance. The new position is part of the OCC's effort to focus on operational risk in the banks it supervises and internally. "Elevating enterprise governance to the agency's Executive Committee demonstrates my commitment to ensuring that we follow the same high standards we set for the institutions we supervise," said Comptroller of the Currency Thomas Curry. (free registration) (2/7) LinkedInFacebookTwitterEmail this Story
  The Future of Money 
  • Upgraded ATMs, mobile apps seen as key to banking future
    Banks are betting on investments in more sophisticated ATMs and mobile applications to boost profit and improve customer satisfaction, Michael Hickins writes. For example, ATMs are being upgraded with the goal of taking "everything that happens in the teller line and make it more like what happens in airports," with roving employees available for customer assistance if necessary, says Guy Chiarello, chief information officer of JPMorgan Chase. The shift is taking place across the industry, Hickins writes, and is therefore unlikely to create competitive advantages for any bank. The Wall Street Journal/CIO Journal blog (2/7) LinkedInFacebookTwitterEmail this Story
  • Banks plumb Big Data for better strategies and answers
    Banks including JPMorgan Chase and Bank of America are tapping into analytic technologies for a more accurate picture of their customers and to better predict behaviors, such as who might be willing to buy new products and repay their debt, Michael Hickins writes. "Bank executives also hope Big Data will help them use better marketing techniques to address a big problem with customer churn," he writes. The Wall Street Journal/CIO Journal blog (2/6) LinkedInFacebookTwitterEmail this Story
  • Banking app users say they want notifications
    Consumers want features such as dedicated push notifications from their banking applications, but a gap remains between what they want and what they're getting, a Varolii Corp. study showed. The report found two-thirds of consumers want their banking app to notify them when their account balance is low and they are on the verge of a financial problem. But only a third of bank-app users say they get these pushes. (2/6) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • Why good leaders ask "power questions"
    Smart leaders are good conversationalists, which means they know that it's better to ask questions than to talk incessantly, says business author Andrew Sobel. Your curiosity will empower the other person, allowing you both to make a good impression and to learn from them. "When you ask thoughtful questions you supercharge your conversations," Sobel explains. SmartBrief/SmartBlog on Leadership (2/5) LinkedInFacebookTwitterEmail this Story
  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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If you want to make enemies, try to change something."
--Woodrow Wilson,
28th U.S. president

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