Auto Track @ CBA LIVE
The keynote address by Jim Press was a great session. Very informative and insightful. Jim is an industry icon and was very candid in his comments and gave his perspective of the past, present, and future of the industry. He discussed to importance of auto finance to the health and prosperity of the industry.
CRA Track @ CBA LIVE
Panelists covered the basics of CRA necessary to organize your CRA program
1) What is the definition of CRA?
2) What counts for CRA credit?
3) What constitutes an assessment area?
4) What are regulators looking for in a bank’s CRA compliance?
5) How to offer new and innovative products that will receive CRA credit?
6) How fair lending affects CRA lending?
The CRA reform session included a dynamic discussion with industry, academics, and consumer representatives on the ways CRA may need to be revised. There was broad consensus that change is likely--though it may be regulatory rather than legislative. The industry will need to be part of the process and consider changes that will make CRA better measure the large positive impact banks are having on communities.
Collections Track @ CBA LIVE
Retail credit continues to grow but delinquencies and losses are way up. Credit card losses have more than doubled over the last couple of years. However, affordable home modification and foreclosure alternative initiatives (i.e. HAMP, short sales, etc…) appear to be gaining ground. Banks need to reassess default management and related programs (i.e. overdraft, reevaluation programs, debt suspension, etc…). Recurring noncompliance is a growing concern and enforcement action will increase.
Deposits Track @ CBA LIVE
Is offering Overdraft protection really a benefit? Let's set up our customers for success. Communication is key and should be clear and transparent. Implementation should involve technology, education and customer strategy. One institution stated their finding was customers wanted the bank to "help us help ourselves". As product managers we need to listen to our customers.
Home Equity Track @ CBA LIVE
Fed Deputy Director Chanin led a regulatory discussion guiding the audience through a series of proposed changes coming to mortgage and home equity disclosures. Final Regulation Z changes unlikely before 2011. However, expect a proposal to expand HMDA data this fall.
