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View from CBA March 21, 2014
Breaking News – Retailers Dealt Blow in Durbin Interchange Case
Today in a major decision by the United States Court of Appeals for the District of Columbia Circuit on the debit card interchange case, NACS v. Board of Governors of the Federal Reserve System, reasonable minds prevailed in vacating the District Court’s ruling to affirm the existing rule. This means the current fee ceiling of 21 cents will remain in place. While we still believe the underlying rule is flawed, any further changes to the currently allowed interchange rates would only pile on the negative consequences for consumers. Make no doubt about it – consumers must come first in this process, not the bottom-line of retailers. This drawn-out fight should put on notice those Members of Congress who insist upon interfering with the free market. See the “Government Relations” section of this message below for further analysis.
CBA LIVE 2014 – Record Attendance
CBA LIVE 2014: Red, White + Banking is just a week away! Start finalizing your schedule and plan for an exciting line-up of speakers, forums and events. Be sure to pack your “A” game for this year’s conference, as leaders across the retail banking industry have signed up to the tune of another record breaking level of attendance.
- You can prioritize your agenda by downloading our free mobile app – powered by Nomis Solutions and available for iOS devices from the Apple App Store and for Android devices on Google Play.
- Take a moment to review your name badge details and contact us with any required edits.
- The exhibit hall at CBA LIVE 2014 is sold out! With 61 organizations participating and so much to see and do, take a peek at the exhibitor line-up and the floor-plan to customize your CBA LIVE 2014 experience.
- Get some time on the greens where bankers golf for free at the Dealertrack sponsored CBA LIVE 2014 Golf Tournament on Sunday, March 30, 2014. Register now!
- Look for the CBA LIVE Wake-Up Call each morning in your inbox to keep you in the loop on what happened the day before and what’s on the day’s agenda.
Fed Releases Stress Test Results
The Federal Reserve has released their annual stress tests results and found 29 of the 30 largest financial firms could weather a big economic downturn. It was great to see all of CBA’s members in the group of financial institutions with solid footing and even more proud the results show a banking system which has substantially healed since the 2008 financial crisis.
“The annual stress test is one of the Federal Reserve's most important tools to gauge the resiliency of the financial sector and to help ensure that the largest firms have strong capital positions,” Federal Reserve Governor Daniel K. Tarullo said. “Each year we are making substantial improvements, which have helped make the process even stronger than when we first conducted the stress tests in the midst of the financial crisis five years ago.”
GSRBM Applications Due May 15 for 2014 Session
The CBA-BAI Graduate School of Retail Bank Management is an eye opening experience. It provides a rigorous, boutique education for ambitious bank officers - immersing them in real world scenarios experienced every day at the bank. Over the course of three ten-day summer sessions, students participate in one-of-a-kind simulation exercises that challenge them to run the entire consumer business of a bank and learn how to analyze and utilize financial data to influence a bank’s future performance.Applications for the 2014 session are due by May 15th – apply today.
News and Notes
RBS Citizens Financial Group has appointed Ellen Taylor as executive vice president and head of investor relations, where she will oversee the Providence, R.I., company's preparations to go public later this year.