Richard's Rapid Fire

  • February 5, 2016
    Many CBA Members Already Serving Unbanked Earlier this week, in conjunction with a Wednesday field hearing in Louisville, KY, the CFPB made headlines by calling on the nation’s 25 largest banks to offer alternative (i.e. low-cost, no overdraft) checking accounts to consumers. CBA strongly believes all U.S. consumers should have access to checking accounts with upfront fee disclosures and clear...
  • January 29, 2016
    Evolution of Banking: M&A is New Norm For months , we have discussed the industry is undergoing a transformation due to three major disruptions: the economy, the regulatory environment, and advancements in technology. Any one of these would have been trying, but all three at once created the perfect storm. Knowing this, I was not surprised by Tuesday’s announcement that Huntington is...
  • January 22, 2016
    Cordray to Offer Keynote at CBA LIVE We are pleased to announce CFPB Director Richard Cordray will join us for CBA LIVE 2016. A man who needs no introduction, Director Cordray will join me on the big stage on Wednesday, March 9, 2016, to discuss all things CFPB. Remember, if you have not registered yet, it is not too late! CBA LIVE 2016: Leadership Unplugged takes place March 7-9 in Phoenix, AZ...
  • January 15, 2016
    Disruption Is the New Norm – ESPN is Next? On Wednesday, the Washington Post reported some daunting news for ESPN—one of my favorite networks. It seems “The Worldwide Leader in Sports” is no more free from disruption than banking. In banking this week, new data highlighted just how significant the shift has been from branch banking to mobile banking. According to a new survey by Javelin Strategy...
  • January 8, 2016
    Impending Deputy Director Appointment Highlights Key Flaw at CFPB Let's start 2016 off with a trivia question. Can you name a federal agency where the Director or Chair is allowed to handpick their successor without Senate confirmation or a presidential appointment? If you guessed the Securities Exchange Commission, the Federal Deposit Insurance Corporation, or the Consumer Product Safety...
  • December 18, 2015
    Thankfully Congress Wraps Up 2015 Earlier this month, Congress chose political expediency over sound policy by voting to pay for the highway bill with a tax on banks, rather than gasoline. Many of us were hopeful cooler heads would prevail and this policy would be walked back in this week's final, year-end spending package, also known as the omnibus. Congress also had the opportunity to advance...
  • December 11, 2015
    T-Minus 7 Days to CBA LIVE Early Bird Deadline Our committees have been heads down planning a host of sessions for CBA LIVE, which will now feature 11 concurrent tracks including our first-ever Risk F orum. View the session lineup for each forum as well as the full event program to customize your CBA LIVE experience. Just like the holidays sneak up on you, so does our Early Bird registration...
  • December 4, 2015
    NY Times : Free Tuition Is Not the Answer Catharine Hill, president and professor of economics at Vassar College, penned a very interesting op-ed in the New York Times this week to explain why free tuition is not a silver bullet for our college affordability problems. President Hill noted, "...if our real goal is to improve college access and affordability for students from low- and moderate-...
  • November 20, 2015
    Happy Thanksgiving! We are truly blessed to live in such a wonderful and free country and work in an industry helping people with their financial needs in a responsible manner. The entire CBA Team wishes you and your family a wonderful Thanksgiving. Report: Errors Abound in CFPB's Complaint Portal This week, American Banker published a very disturbing story outlining a host of problems with the...
  • November 13, 2015
    Keep it Going... Thank a Vet Thanking a veteran should not be a one-day thing. As we approach the holiday season, take a moment to thank our military personnel—retired and present—and their families for their service and commitment to our great Nation. Marketplace Lending As marketplace lending continues to expand, regulators have begun to turn their attention to this fast growing industry. Late...

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