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January 21, 2013
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News for the retail banking industry

  Top Story 
  • CFPB revamps loan-officer compensation rules
    Under a new rule from the Consumer Financial Protection Bureau, loan officers can no longer receive higher compensation when steering borrowers to loans with higher interest rates, prepayment penalties or higher fees. The rule also forbids loan officers from getting paid by both the consumer and another company. Bloomberg (1/18) LinkedInFacebookTwitterEmail this Story
  The CFPB Today 
  • CFPB could seek a role in retirement policy
    The Consumer Financial Protection Bureau is exploring whether it has any authority over Americans' retirement savings and investments, says Richard Cordray, the agency's director. The CFPB is concerned that consumers might become victims of financial scams, sources say. Bloomberg (1/18) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • HSBC settles foreclosure inquiry for $249M
    The U.S. branch of HSBC has agreed to pay $96 million to homeowners who were foreclosed on and lost their homes in 2009 and 2010, plus $153 million in assistance such as loan forgiveness and modifications. The settlement was the 13th reached this month between financial institutions and the Office of the Comptroller of the Currency and the Federal Reserve Board, ending a case-by-case review of documents. Reuters (1/18) LinkedInFacebookTwitterEmail this Story
  Regulatory Report 
  • Fed transcripts show optimism in 2007 as economy deteriorated
    Newly released Federal Reserve transcripts from 2007 show several officials didn't believe the economy was in for a hard landing and didn't want to overreact and panic the markets. Some, however, were warning of economic turmoil. "The risk of under­doing it now is that we will ultimately be forced to do more," Timothy Geithner, then president of the New York Fed and now Treasury secretary, said at the time. The Washington Post (1/18) LinkedInFacebookTwitterEmail this Story
  Legislative Affairs 
  • Mapping the economy as Obama begins his second term
      
    President Barack Obama faces a different economic landscape than he did four years ago. This post features interactive maps that show state and local data that shape national economic indicators such as unemployment and median household income, and it looks at demographic trends and how they will affect the U.S. for the next four years. SmartBrief/SmartBlog on Finance (1/18) LinkedInFacebookTwitterEmail this Story

  The Future of Money 
  Members in the News 
  Career Development 
  • 5 realities about being innovative
    Many leaders struggle with innovation in the workplace, writes Jeff DeGraff of the University of Michigan's business school. He describes five characteristics of innovation and how to use them at work, including the importance of failing "early, often and out of sight," working on the impossible problems and being willing to "[p]ractice circling your innovation project" for possible mistakes. Management Innovation eXchange/FreshMIX blog (1/14) LinkedInFacebookTwitterEmail this Story
  Hot Topics 

Top five news stories selected by CBA SmartBrief readers in the past week.

  • Results based on number of times each story was clicked by readers.
  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 
Give me six hours to chop down a tree and I will spend the first four sharpening the axe."
--Abraham Lincoln,
16th U.S. president


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