Richard's Rapid Fire - January 5, 2018

January 5, 2018

What’s in Store for CBA & Banking in 2018?

As we kick start the New Year, below is a brief “cheat sheet,” highlighting CBA’s top regulatory and legislative priorities for 2018, top-of-mind banking issues and developments.

 

CBA’s Key 2018 Priorities

  1. Enact a bipartisan commission at the CFPB;
  2. Promote clear and reasonable regulatory rules and guidance;
  3. Promote the next generation of banking products and services; and
  4. Right-size the Federal Government’s role in student lending.

 

You may read more about our priorities here.

 

Top Banking Issues and Developments to Watch for 2018 (AKA: The CBA Cheat Sheet)

  • Who will head the CFPB? OMB Director Mick Muvlaney currently serves as acting head of the agency (although his leadership is being challenged in the courts), but President Trump is expected to make a nomination for a permanent director soon.
  • Expected appointments and confirmations, include Jelena McWilliams, Fifth Third’s top attorney, as FDIC Chair and current Fed Governor Jerome Powell as Federal Reserve Chair.
  • Comptroller of the Currency Joseph Otting’s stated desire to move ahead with the agency’s plan to create a limited-purpose charter for Fintech companies.
  • Potential action on the Senate’s bipartisan regulatory relief bill, which raises the SIFI threshold and relaxes stress testing requirements for banks under $250 billion in assets and includes the MOBILE Act, among other provisions.
  • Efforts to repeal and/or delay implementation of Section 1071 of the Dodd-Frank Act, which institutes an unworkable small business data collection requirement, as well as reforms to BSA/AML, flood insurance and housing finance.
  • Court rulings on ACA International v. FCC (TCPA case), which has sizeable implications for banks and their ability to communicate with their customers, and PHH Corp. v. CFPB, which may impact the structure of the CFPB.

 

 

CBA Introduces Talent Management and Internal Audit Committees to Membership

We are excited to introduce two new CBA Committees:

  • The Internal Audit Committee brings together senior audit leaders and provides an open forums to discuss unique industry trends, risks and regulatory expectations in order to help ensure CBA member banks maintain strong audit functions. Dan Van Sciver of Sallie Mae will serve as Chair and Mark Weintraub of Wells Fargo will serve as Vice Chair. More than 20 member banks are represented on the committee already.
  • The Talent Management Committee promotes education and the exchange of information on talent management issues and is dedicated to providing members with an open forum to learn from industry leaders, share best practices, discuss regulatory changes and network with other professionals in the business. The Committee is chaired by John Jordan of Bank of America. 22 member banks are represented on the committee already.

 

In total, this boosts CBA’s standing committees to 13. At CBA, our committee structure is the backbone of our organization and we are proud to offer membership monthly opportunities to discuss best practices and trends with industry peers.

 

 

CBA LIVE Early Bird Rates End Today

Over the years, CBA LIVE has become retail banking’s must-attend-conference for senior industry leaders. The “Who’s Who” of banking attend to learn from our 90-hour, info-packed program, network with peers and hear from our star-studded general session speakers.

 

This year’s speaker lineup includes:

  • Former CIA and NSA Director General Michael Hayden;
  • Futurist, International Speaker & Author Scott Klososky;
  • Bank of the West President and CEO Nandita Bakhshi;
  • Citizens Financial Group Chairman and CEO Bruce Van Saun; and
  • IBM Watson Financial Services’ General Manager of Solutions Alistair Rennie.

 

Join us March 12-14, 2018 in Orlando and sign up before by midnight tonight to receive our Early Bird rate and to reserve your seat for retail banking’s premier event. Read our full program here.

 

 

CBA is Building Better Bankers in 2018

Each summer, hundreds of bankers join us for CBA Executive Banking School at Furman University in Greenville, South Carolina. Our school is devoted to the idea that a successful banker is one who understands how to operate a bank from the ground up. After three years of rigorous study, including one-of-a-kind simulation exercises, our program prepares graduates to be leaders at their bank. We offer an exclusive curriculum tailored and taught by top industry practitioners. This year, we are proud to welcome special guest speakers:

  • Mary Mack, Senior Executive Vice President, Community Banking at Wells Fargo;
  • Jerry Salinas, Chief Financial Officer at Frost Bank; and
  • Blake Wilson, Chief Executive Officer at EverBank.

 

The school takes places July 22-August 1, 2018, and you may learn more here.

Looking for additional education opportunities? CBA OnSite Education brings advanced education directly to your team, offering curriculum in two, three and four-day formats that prepare bankers to increase their contributions to the team and their professional growth. Last year, CBA hosted 20 OnSite programs across the country and we already have 20 on the docket for 2018, click here to sign up your bank.

 

 

CBA Members Pass on Tax Reform Savings to Employees, Charities

CBA members across the country are passing along the benefits of tax reform to their employees:

Bank of America

PNC

Bank of Hawaii

Regions

Bank of the Ozarks

SunTrust

BB&T

TCF Financial

Citizens Financial Group

U.S. Bank

Comerica Bank

Wells Fargo

Commerce Bank

Zions

Fifth Third

 

 

 

Welcoming SpringboardAuto as CBA’s Newest Associate Member

We are glad to welcome SpringBoardAuto to the CBA Family. Be on the lookout for them at CBA LIVE in March!

 

 

Three Things To Know To Be In The Know

Fed Plans to Raise Rates in 2018 but Lacks Consensus on Frequency

Credit union regulator McWatters on shortlist to head CFPB

Banks compete for tech talent by helping on student loans

 

 

Lagniappe

Mark Midkiff was named chief risk officer at KeyCorp, succeeding Bill Hartmann. Mark previously was an executive at BB&T.

 

PNC appointed Martin Pfinsgraff, formerly of the OCC, and Linda Medler, formerly a cybersecurity expert at Raytheon Missile Systems, to its board.