Richard's Rapid Fire

  • May 2, 2014
    Earnings Season Wraps Up This week wrapped up the quarterly earnings reports of CBA’s member banks. Mortgage lending and overall revenue continues to lag, prompting M&T Bank CEO Robert Wilmers to state: “Too many banks are competing for too few loans in an economy that continues to be characterized by slow and uneven growth.” This is a sentiment shared by other bank CEOs including BB&T’s...
  • April 25, 2014
    CBA/AOL March Finance Optimism Index Results: Partly Cloudy Results for the CBA/AOL Finance Optimism Index show a decline for the second month in row. Consumer polling in March showed a -6.2 level of optimism, compared to -2.6 last month - a decline of 3.6 points - as Americans grow more concerned about their current financial situation. With the impending tax deadline in April, consumers were...
  • April 18, 2014
    It is earnings season as our banks release their quarterly reports, and the key takeaway is: Mobile is boosting the bottom-line . Bank of America’s CEO Brian Moynihan said during his earnings call mobile banking efforts have reduced costs at the consumer banking business by about 4 percent from a year earlier. Mobile was involved in 10 percent of total deposit transactions at Bank of America in...
  • April 11, 2014
    CFPB Attempts to Level the Playing Field We were glad to have CFPB Deputy Director Steven Antonakes at CBA LIVE last week where he made some news. In his remarks at the general session on April 2, 2014 he stated: “We are now increasingly able to level the playing field between banks and their nonbank competitors for the first time. These changes are most notable for the nonbank institutions, but...
  • April 4, 2014
    CBA LIVE Wrap-Up CBA LIVE 2014: Red, White + Banking – the fifth annual CBA LIVE event was a resounding success thanks to our attendees (over 1,200) from 70 national and regional banks and across the retail banking industry. The event is possible only because of the sponsors, exhibitors, Board and Committee members who develop this outstanding program and bring together retail banking’s leaders...
  • March 28, 2014
    CBA LIVE 2014 – It’s Here and Good Weather Guaranteed! CBA LIVE 2014: Red, White + Banking is just 2 days away! Not only will we have record attendance at this event, but some of the best weather D.C. has seen in months. Join us Sunday night for an evening of fun with the Capitol Steps to help kick things off. We are looking forward to seeing everyone in their red, white and/or blue attire on...
  • 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...
  • March 14, 2014
    MasterCard Joins CBA as Premier Sponsor MasterCard Worldwide has joined CBA as a Premier Sponsor, meaning a year-round commitment to CBA and the retail banking industry as a whole. We are proud to have them join Black Knight Financial Services, Equifax, Fiserv, and Novantas as Premier Sponsors of CBA, and rely on this select group of sponsors for industry insight, research and thought leadership...
  • March 7, 2014
    Community Bankers: Acquire or be Acquired According to the Federal Deposit Insurance Corporation (FDIC), the number of federally insured financial institutions nationwide shrank to 6,891 in 2013 - falling below 7,000 for the first time since federal regulators began keeping track in 1934. Those numbers are not lost on members of the Independent Community Bankers of America (ICBA), who recently...
  • February 28, 2014
    House Tax Reform Package Includes Bank Tax This week House Ways & Means Committee Chairman Dave Camp (R-MI) proposed comprehensive tax legislation. While both House Speaker John Boehner (R-OH) and Senate Minority Leader Mitch McConnell (R-KY) have downplayed any chance of a tax package passing this year, the banking industry should be concerned by a tax on banks and certain financial...

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