Richard's Rapid Fire

  • June 2, 2017
    This week's guest author is Steve Zeisel, CBA’s EVP and General Counsel. CHOICE Act Headed to House Floor for a Vote If all goes as expected, the Financial CHOICE Act will head to the House floor for a vote next week. Per press accounts, an amendment will be offered to strip language repealing the Durbin Amendment, which instituted a government sanctioned price control on bank interchange fees...
  • May 26, 2017
    Majority of Voters in Battleground States Want a Bipartisan Commission at the CFPB CBA has long championed the belief the CFPB should be structured as a bipartisan commission. This week, new poll results released by Morning Consult , a well-respected, non-partisan polling firm, showed 58% of registered voters in eight battleground states agree with our position. In fact, across party lines, a...
  • May 18, 2017
    From “Don’t Bank” to Bank Charter: Is SoFi Having an Identity crisis? Talk about an about-face in company strategy. In eye-popping fashion, SoFi, the online lending startup that ran a 2016 Super Bowl commercial with the tagline “don’t bank,” announced its intentions to apply for a bank charter in the coming weeks. Yeah, you read that right. An online lender who openly and energetically touted...
  • May 12, 2017
    CBA Committee Chair Todd Hollander of Union Bank Testifies on Small Business Lending Seventy percent of the small business loans are made by banks with $1 billion or more in assets. With the CFPB launching a formal inquiry into the small-business lending landscape, we stand with the Bureau in its endeavor to better understand the small business lending market. However, we urge the Bureau to...
  • May 5, 2017
    Dodd-Frank Reform Passes House Financial Services Committee, Interchange Included (Senate has not even started) • Today is OCC Comptroller’s Curry’s Last Day • First Tennessee Becomes a $40 Billion Bank • 70% of all Small Business Loans Made by Banks Greater than $1 Billion in Assets • ICBA’s Cam Fine Retiring • My Panel at Fiserv Forum • Representatives Introduce HMDA Bill • High School...
  • April 28, 2017
    CHOICE 2.0’s Day in the Sun: Here we go! The House Financial Services Committee is planning to mark-up the Financial CHOICE Act 2.0 on Tuesday, May 2, 2017. For those not familiar with such political processes, a mark-up is when a committee debates, amends, and/or rewrites proposed legislation. Experts, politicos, and reporters have been weighing in on whether the bill will be able to generate...
  • April 21, 2017
    Lifelong Democrat and Former Fed Chair Breaks Party Ranks on CFPB Holy smokes, lifelong Democrat and former Federal Reserve Chair Paul Volcker disagrees with Senate Democrats’ approach to CFPB reform. Speaking at the annual Bretton Woods Committee meeting, Volcker said it is “perfectly reasonable” to question the CFPB’s governing structure. Taking this a step further, he argued a bipartisan...
  • April 14, 2017
    Richard Davis’ CBA LIVE Farewell: One for the Record Among the many great moments from CBA LIVE, one stood out the most. U.S. Bank Chairman and CEO Richard Davis – in what was one of his last public appearances before retirement – looked to the audience during his closing remarks and said, “How perfect is it that I am closing out here with CBA. My whole life has been consumer banking. I am...
  • April 7, 2017
    CBA LIVE 2017 in the Lone Star State is best described as legendary . From April 3-5 in Dallas, we were thrilled to welcome the largest-ever crowd – 1,400+ attendees including more than 620 retail bankers -for Retail Banking’s premier event. On Sunday, our Board, Committee and Council members discussed key issues at in-person meetings, and we capped off the night with our annual Chairman’s Event...
  • March 30, 2017
    CBA LIVE: Where [ it ] Begins Kicks Off in Dallas on Monday With bags, boots, and tickets in hand, we are rolling out to Dallas. Next stop, CBA LIVE. With record-breaking attendance, some members of the CBA Team are already on the ground preparing for the arrival of over 1,400 retail banking leaders. Can’t wait to take part in the action? Neither can we. Here is a preview of what to expect at...

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