Deposits & Payments

Deposit growth and strategies have always been a core focus of retail banks. Today's volatile economic climate - with consumers relying less on credit products and more on deposit account services - brings deposit growth and account management to the forefront. As technology and consumer needs evolve, so does the concept of payments. With innovations such as virtual wallets and other forms of digital currency comes new and unique challenges for the payments space. CBA monitors and addresses the issues facing retail banks in the management of the deposits and payments functions.

  • January 27, 2017
    Busy First Week for the Trump Administration The new Administration is off and running. During President Trump’s first week in office, he announced a “regulatory freeze” for all executive departments and agencies. He also signed a host of executive orders on issues ranging from health care to immigration. With former South Carolina Governor Nikki Haley confirmed as U.N. Ambassador and Rep. Mike...
  • January 26, 2017
    On Thursday, January 26, 2017, the Federal Reserve released a report summarizing its progress to date on promoting a faster payments system in the United States. In pursuit of its goal, the Fed established in 2015, two industry stakeholder task forces – one on faster payments and another on secure payments. As recounted in a separate report , the Faster Payments Task Force has developed “...
  • January 13, 2017
    CFPB Straight Talk Launching a campaign to deny consumers the benefits of financial reform, Sen. Elizabeth Warren is throwing fuel on the fire of an already misdirected debate regarding the future of the CFPB. Voicing strong opposition to Dodd-Frank reform, Sen. Warren is not doing consumers any favors with her rigid position. Americans from across the country understand they need financial laws...
  • January 9, 2017
    On Monday, January 9, 2017, the FDIC filed suit against Bank of America, seeking $542 million the FDIC claims the bank has not paid in deposit insurance, alleging the bank reported incorrect financial information, from Q2 of 2011 to Q1 of 2016 that underreported its counterparty exposure. As stated in the FDIC’s filing , “During this period, Bank of America ignored the FDIC’s instruction it...
  • January 5, 2017
    On Thursday, January 5, 2017, the OCC issued its Fall Semiannual Risk Perspective , covering January to June of 2016. As in past reports, strategic, credit, operational and compliance risk were top concerns. However, leveraged lending – a top concern in the past – has diminished in focus, while governance over sales practices rose to the level of a key risk area. Key findings include: Strategic...
  • December 20, 2016
    Kiran Analytics conducted its 2 nd annual survey of executives from 50 retail banks to gain insights about branch transformation. Key findings indicate that workforce optimization is among the top priorities. Talent acquisition/retention and aligning selling capacity to market opportunity are key challenges. Read the survey findings report and learn what they are doing to meet those challenges...
  • December 16, 2016
    Out with the Old, In with the New President-elect Donald Trump continues to fill his cabinet with the selection of former WWE CEO Linda McMahon as the head of the Small Business Administration, CKE restaurants CEO Andrew Puzder as the Labor Secretary, and Exxon Mobile CEO Rex Tillerson as Secretary of State. Contrary to popular belief, it’s not just cabinet picks who matter. Policy making is...
  • December 14, 2016
    On Wednesday, December 14, 2016, a bipartisan group of Senators, led by Sen. Jeff Merkley (D-OR), sent a letter to the head of the Financial Crimes Enforcement Network (FinCEN), requesting clarification for banks and vendors doing business with companies in states having legalized recreational and medical marijuana. The lawmakers raised concerns that conflicting federal law have created safety...

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