Richard's Rapid Fire

  • August 12, 2016
    Economists Predict December Rate Increase A new WSJ survey out this week shows 71% of economists believe the Fed will raise interest rates at its December meeting. This is a complete reversal of opinion from the Journal’s two previous surveys on the topic. In July, about half of economists polled expected the Fed to raise rates, and a mere 7.8% held this opinion in June. Strong employment numbers...
  • August 5, 2016
    CBA Executive Banking School Graduates 87 Bankers On Tuesday, 87 of the industry’s top bankers received their diplomas and graduated from CBA Executive Banking School . Our graduates completed three years of rigorous coursework designed to prepare them to successfully lead the industry. Congratulations to the Class of 2016, our honors graduates, and this year’s Tem Wooldridge Award recipient —...
  • July 29, 2016
    #CBAExecutiveBankingSchool Welcomes Over 300 Students CBA Executive Banking School is in full swing! This week, more than 300 students joined us at Furman University in Greenville, S.C. to perfect their retail banking skills. I have to say, with dedicated students like these, the future of the industry is bright. Once again, bank dinner night was a tremendous success! Many of our students took...
  • July 22, 2016
    School’s In For Summer: CBA Executive Banking School Starts Monday This weekend, more than 300 students representing 45 banks from across the country will meet at Furman University in Greenville, S.C. for CBA’s 64 th year of Banking School . Our esteemed faculty is projecting 88 bankers will graduate on Tuesday, August 2, 2016. Included in this distinguished group of students will be this year’s...
  • July 15, 2016
    Bank’s Q2 Earnings Reports Kicking off second quarter earnings reports, JP Morgan Chase sprinted out of the gate by posting a profit of $1.55 per share, compared to an estimated $1.43 per share. Following suit, Citi reported profits of $1.24 per share, compared to an estimated $1.10 per share. Rounding out the week, Wells Fargo held steady with earnings of $1.01 per share. We look forward to...
  • July 8, 2016
    Same-Day Paychecks According to a report from the New York Times this week, a growing number of employers are testing ways to provide their employees with faster access to their paychecks for a fee ranging from $0.50 to $5. Given the Federal Reserve’s recent report that nearly half the country cannot afford a $400 emergency expense, we certainly welcome these kinds of innovations. Additionally,...
  • July 1, 2016
    Banks Overwhelmingly Ace Their Stress Tests Following up on last week’s good news, the Federal Reserve released its second round of stress tests on Wednesday. Overall, the tests resulted in 31 of the U.S.’s top 33 banks passing their exams, thus allowing banks to return profits to their investors. All six of the U.S.’s top banks, including CBA members J.P. Morgan Chase, Bank of America, Citi and...
  • June 24, 2016
    Taking Our Message to Capitol Hill It is always great to have our members visit us at CBA HQ in Washington, D.C. This week, our Board of Directors and Mid-Tier Retail Executives came to town for their respective meetings and to visit the Hill. Our teams met with more than 20 lawmakers and their staffs, including House Speaker Paul Ryan, to share all the great work our members are doing on behalf...
  • June 17, 2016
    Interest Rate Increase, Anyone? Last November, most economists were predicting the Fed would increase interest rates several times in 2016. Yet, we are witnessing a complete shutout with no certainty of an increase in July. Last month’s anemic jobs numbers, BREXIT, and a weak oil market have dimmed prospects. I know you all remember Gallup’s Jim Clifton at CBA LIVE a few years ago when he said...
  • June 10, 2016
    CFPB Commission Advances & Is Included in Dodd-Frank Overhaul On Thursday afternoon, House appropriators took steps to make needed improvements to the CFPB on behalf of consumers. Chief among the reforms is a CFPB commission. CBA also appreciates the Committee requiring the Bureau to take a second look at its arbitration and small-dollar lending proposals before consumers are potentially...

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