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Richard's Rapid Fire - 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 Forum. 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 deadline on December 18, 2015. If you plan to join us for retail banking's best event, register now to save $300. CBA LIVE 2016: Leadership Unplugged takes place March 7-9 at the JW Marriott Desert Ridge in Phoenix.
CBA's Board of Directors Meets
Chairman Will Howle convened the CBA Board of Directors on Wednesday for a 90-minute conference call. The Board's robust discussion included M&A activity, redlining, and TRID and EVM implementation. Thank you to all our board members for joining us.
Congressional Happenings: Data Security & Kicking the Omnibus Can Into Next Week
Consumers win when the entire payment system recognizes its duty to protect sensitive personal and financial information from data breaches. We are grateful the House Financial Services Committee shares this wisdom and passed the Data Security Act of 2015 (H.R. 2205), sponsored by Representatives Randy Neugebauer (R-TX) and John Carney (D-DE), by a vote of 46-9. We encourage the full House to follow the Committee's lead in protecting consumers.
Also on Capitol Hill this week, Congress continues to be gridlocked when it comes to the year-end spending package, known as the "omnibus." Though funding was set to run out today, both chambers have decided to kick the can into next week by passing short-term funding bills. After further negotiations this weekend, we expect to see the final package on Monday.
WSJ Editors: The Consumer Bureau Cover-Up
On Thursday, the editors at the Wall Street Journal published a scathing critique of the CFPB's auto-loan regulation and the U.S. Senate for not immediately trying to curtail this outrageous policy. A synopsis from me would not do the editorial justice, so be sure to read the story.
Visiting the Buckeye State
This week, CBA was greeted by surprisingly warm weather on our visit to Ohio to see new CBA Board Member, Dennis Devine, Co-President of Key Community Bank, Consumer & Business Banking. In addition to meeting with Dennis, we also met with CBA committee members and some of our Executive Banking School (EBS) alumni. We had a great conversation on topics ranging from 2016 Presidential Elections to the looming 2015 omnibus bill and changes to the CFPB's governance structure. We also discussed branch consolidation, the CFPB's rulemaking agenda and mergers and acquisitions. Thank you to the past Chair of our Home Equity Committee, Cindy Balser, SVP, Consumer Credit Risk; and Small Business Committee member, Kenna Short, Segment Credit Officer; EBS Students Matthew Wyner, SVP, Retail Sales Leader; Mark Kolar, SVP, Credit Card Group Manager; Joseph Philippone, VP, Area Retail Leader; and EBS Alum Kevin Sloan, Branch Network Executive, for your time and commitment to the industry.
CBA President and CEO Richard Hunt (center) meets with representatives from KeyBank in Cleveland.
A Christmas Story (my version)
Jerry Hogan, a D.C.-based telecommunications lobbyist for many years, recently passed away after an admirable fight with cancer. Those of you who follow college sports may recognize the last name. Jerry's son, Kevin, is the star quarterback for the Rose Bowl-bound Stanford Cardinal. Take a moment or two this holiday season to view this story.
Three Things to Know to Be in the Know
Is Silicon Valley Bank Facing Future Trouble?
Hillary Clinton: How I'd Rein In Wall Street
What Changes Are Coming to the CFPB's Consumer Complaint Database?
Eric Ellingsen was named California Bank and Trust's President and Chief Operating Officer. This is in addition to his current role as Chief Financial Officer.
Tom Wind was named President of U.S. Bank Home Mortgage.
CBA OnSite Education Students discuss fundamentals of retail banking at SunTrust Bank in Atlanta.
December 8, 2015