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March 8, 2013
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News for the retail banking industry

  Top Story 
Foreclosures down. Home purchases on the rise.
With the prospect of continued low rates, are lenders expecting increased volumes? Lenders reduce operating costs, mitigate risk, and reduce cycle times when outsourcing origination services. ULS is uniquely positioned to assist lenders. Find out how! Visit us at the CBA LIVE, booth 70.
  Industry News 
  • January brought a boost in consumer credit
    U.S. consumer borrowing grew by $16.15 billion in January, the largest boost in five months, Federal Reserve data show. Credit that includes auto and student government loans increased $16.04 billion in January after an $18.25 billion bump the previous month, the data show. Reuters (3/7) LinkedInFacebookTwitterEmail this Story
  • Banks face investigations over debt collection
    State and federal regulators are looking into whether big banks passed along faulty information to debt collectors, who then used such information to pursue judgments against credit card customers. The Consumer Financial Protection Bureau, attorneys general in several states and other federal regulators are investigating paperwork and debt records that banks gave to debt collectors, sources say. Reuters (3/7) LinkedInFacebookTwitterEmail this Story
  • Other News
  Regulatory Report 
  • U.S. needs better money-laundering rules, official says
    Money-laundering requirements and controls already on the books may not be enough to stop illegal financial activities, says David Cohen, terrorism and financial intelligence undersecretary at the Treasury Department. Recent settlements with big banks for infractions show that "there is work to be done to make our [anti-money laundering and counter-terrorist financing] regime more effective and to elicit better compliance," Cohen says in testimony prepared for a Senate banking committee hearing. The Wall Street Journal/Dow Jones Newswires (3/7) LinkedInFacebookTwitterEmail this Story
  Legislative Affairs 
  • Banking panel blasts regulators for "too big to jail"
    The Senate banking committee has criticized regulators for not prosecuting more banks for financial wrongdoing. In addition to fines, regulators should look to tools such as injunctions and banning individuals from working in the industry, instead of playing "pass the potato" with responsibility, says Sen. Mark Warner, D-Va. The Hill/RegWatch blog (3/7) LinkedInFacebookTwitterEmail this Story
  The Future of Money 
  • How augmented reality from Google may change customer service
    Google's augmented reality device, Glass, could change branches in several ways, including enhancing customer service, writes Alex Bray of Misys, a financial services technologies provider. For example, Glass-wearing tellers dealing with customers could immediately see information such as account details, sales prompts and any outstanding customer actions. "The teller would immediately have the information they need and in the easiest place to find it -- right before their eyes," he writes. (free registration) (3/7) LinkedInFacebookTwitterEmail this Story
  Thought Leadership 
  Career Development 
  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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Hope never abandons you, you abandon it."
--George Weinberg,
American psychologist, writer and activist

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