|December 12, 2014|
Government Funding Bill Offers Peak into Future Dodd-Frank Tweaks
of the last must-do items for the 113th Congress is to pass a bill to
fund the Federal Government before they adjourn. Many in Washington see
this as the last train leaving the station and have taken the
opportunity to attach riders to the bill covering issues as varied as
increased donation limits to national political parties to a halt of the
District of Columbia's decriminalization of marijuana. Of interest to
our industry is a small provision repealing a Dodd-Frank prohibition on
the use of taxpayer-insured depositor funds for the trading of
derivatives by financial institutions. The inclusion of this provision
has incensed Sen. Elizabeth Warren (D-MA) who has called for the overall
funding bill to be blocked. As we look to the 114th Congress on what
may be possible in improving Dodd-Frank, it will be very telling to see
who in Congress raises objections to this change.
Mobile Banking Overtakes Online Banking
New research from Business Insider Intelligence
reveals mobile banking has for the first time overtaken desktop-only
digital banking at the three largest banks in the U.S. – Wells Fargo,
Bank of America and JPMorgan Chase. Fifty-three percent of customers
banked via their mobile phone, while 47 percent accessed account
information via their personal computer. This trend is likely to
continue as 61 percent of Americans own a smartphone and 91 percent of
adult Americans have some type of mobile phone according to Pew Research
Center's Internet & American Life Project.
Board of Directors Winter Meeting
week I was in California to huddle with CBA Board Chairman Tim Wennes
of MUFG Union Bank, and to prepare for our quarterly Board Meeting.
Board Members met by phone on Wednesday, December 11, 2014 where we
discussed the 2014 elections and our agenda for the coming year. In
addition, Board members heard from Rich Thau of Presentation Testing,
who we have tasked with researching the issue of overdraft use by
2015 Joe Belew Award Applications Being Accepted
now are being accepted for the 2015 Joe Belew Award, which will
recognize the CBA member bank with the most innovative program
supporting financial education. Apply today and share your bank's
achievements in transforming the financial health of America's
The winner will be announced and all applicants will
be showcased at CBA LIVE 2015, to take place March 23 - 25, 2015 in
Orlando, FL. The winning bank will receive $5,000 to donate to a
non-profit program of its choice, and will be featured in a CBA press
release and on the CBA website through the following year. The deadline
for applications is January 14, 2015. For more information please visit our website, email Maren Colon or call (202) 552-6394.
CBA Team News
Fallon has joined Team CBA as Vice President of Congressional Affairs.
She was previously a Legislative Aide to Sen. Mike Johanns (R-NE) as
well as Sen. Jeff Flake (R-AZ).
Bianca Sabrkhani, Exhibits and
Sponsorship Coordinator, has departed CBA to return to her alma mater,
University of Central Florida, as Assistant Director – External
Relations at the UCF Alumni Association. We certainly wish her well!
IBERIABANK will purchase Atlanta-based Georgia Commerce Bank for $195 million, its fifth acquisition this year.