April 22, 2021
CONNECT WITH CBA  LinkedInFacebookTwitter
CBA SmartBrief
News for the retail banking industrySIGN UP ⋅   SHARE
ADVERTISEMENT
Top Story
Banks are conducting record-breaking bond offerings after posting strong first-quarter earnings, with total issuance estimated at $40 billion and offerings that include $13 billion and $15 billion sales from JPMorgan Chase and Bank of America, respectively. Analysts attribute the surge to federal relief and low interest rates, which encourage borrowing.
Full Story: Reuters (4/21) 
LinkedIn Twitter Facebook Email
Mid-Size Bank Customer Retention Study
Who wants to leave your bank? Our analysts surveyed mid-size bank customers and 31% are open or actively looking to switch banks. Learn the at-risk segments and what you can do to retain them. Get the complimentary, in-depth research study. Read the study
ADVERTISEMENT:
Retail Banking Roundup
Banks are becoming more interested in mergers and acquisitions as credit quality improves alongside the economic recovery. However, some financial institutions such as Zions Bankcorp and Synovus Financial aim to achieve growth organically.
Full Story: American Banker (4/21) 
LinkedIn Twitter Facebook Email
First Horizon's merger with Iberiabank last year drove a $10 million increase in annual revenue. First Horizon's Q1 earnings dropped 4% overall, with the decline attributed to merger-related expenditures.
Full Story: American Banker (4/21) 
LinkedIn Twitter Facebook Email
Discover Financial Services' new income grew by $1.6 billion during the first quarter due to "strong credit performance, robust sales growth, and solid execution on operating and funding costs," said CEO and president Roger Hochschild. The company had reported a $61 million net loss during the first quarter of 2020.
Full Story: American Banker (4/21) 
LinkedIn Twitter Facebook Email
Industry News
The Citi Payment Exchange now includes Mastercard Send, a payment platform that expedites payment transfers for businesses. The move makes Citi the largest bank using Mastercard Send.
Full Story: PYMNTS (4/21) 
LinkedIn Twitter Facebook Email
Establishment banks can take a number of steps to ensure they remain competitive in the payments space, according to Finextra Research. These include rethinking how they view data, embracing alternative payment methods, leveraging the trust associated with their brands and partnering with fintechs.
Full Story: Finextra Research (4/21) 
LinkedIn Twitter Facebook Email
Amazon is piloting a payment system at one of its Whole Foods stores that enables customers to pay with a scan of their palm print linked to a payment card. Amazon aims to use the system, called Amazon One, for payments and access to premises.
Full Story: CNBC (4/21),  The Motley Fool (4/22) 
LinkedIn Twitter Facebook Email
Regulatory Report
Treasury Secretary Janet Yellen says US efforts to align with other nations in securing a low-carbon economy "require bold and urgent action -- nothing less than transforming important sectors of the global economy, especially when it comes to how we generate power and move people and goods." In a separate speech, Yellen has said companies that commit to ambitious carbon-reduction targets are making a valuable contribution to the transition by helping financial institutions manage associated risk "while sending a powerful signal to global financial markets."
Full Story: Reuters (4/21),  Reuters (4/21) 
LinkedIn Twitter Facebook Email
The Department of Justice has reportedly established a task force aimed at combating the rising use of ransomware attacks by cybercriminals. An internal memo reportedly says the task force will work to increase department resources, training and intelligence sharing related to ransomware attacks.
Full Story: The Wall Street Journal (4/21) 
LinkedIn Twitter Facebook Email
Legislative Affairs
Republican lawmakers say efforts by US officials to pressure lenders into cutting off financing for fossil fuel companies amount to politicization of the banking industry. A group of 44 House Republicans and another 12 Senate Republicans have issued separate letters this week decrying such efforts.
Full Story: American Banker (4/21) 
LinkedIn Twitter Facebook Email
CBA Connect
CBA White Papers
Stay up to date with top-of-mind issues for senior banking executives with CBA White Papers. Read industry-specific highlights on consumer trends, customer experience, the regulatory environment, retail banking statistics and thought leadership. Visit our website to view recent and archived white papers.
LinkedIn Twitter Facebook Email
LEARN MORE ABOUT CBA:
CBA OnSite Education | Upcoming CBA Events | CBA Executive Banking School
Today I have grown taller from walking with the trees.
Karle Wilson Baker,
poet, writer
April 22 is Earth Day
LinkedIn Twitter Facebook Email
 
SmartBrief publishes more than 200 free industry newsletters - Browse our portfolio
Sign Up  |    Update Profile  |    Advertise with SmartBrief
Unsubscribe  |    Privacy policy
CONTACT US: FEEDBACK  |    ADVERTISE
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004