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Mary Fowler
Chief Executive Officer
The Peoples Bank
Magnolia AR
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Original Message:
Sent: 12-05-2019 15:42
From: Barb Rehm
Subject: Weekly News Roundup
Kamala Harris ended her presidential campaign, Google founders Larry Page and Sergey Brin stepped down, and the Christmas season officially kicked off with the tree lighting in Rockefeller Center Wednesday. The rest of the week's news is below, but first I want to give a shout out to William Walker, Chairman and President of Traders & Farmers Bank in Haleyville, AL., who became a Peer Intelligence ambassador this week. Thanks William! If you're interested in becoming a community ambassador, you can email us at community@promnetwork.com.
I also want to note that one of our Peer Intelligence members, Neil Stanley, flagged a conference we thought you might be interested in. It's the 8th Annual Retail Deposit Optimization and Strategic Management in New York City on February 26-28. Neil will be presenting during a session titled, "Navigating the Chaos of Time Deposit Pricing." You can see the agenda here. And finally, I want to make one last plug for our terrific webinar with former Fed Vice Chair Dr. Alan Blinder. If you missed his insightful observations about all things monetary policy, you can catch the replay here.
"Warren Takes Aim at Bank Mergers, a Sign of Her Presidential Intentions"
No one can doubt Sen. Warren's ability to multi-task. While she's pressing a plan for just about everything out on the campaign trail, she hasn't forgotten her favorite target: banks. The Massachusetts Democrat introduced a bill this week that would add the CFPB to the list of regulators that must sign off before banks can merge. It's a bad idea going nowhere, but you should know it's out there.
"House Democrats Implore Regulators to Get in Sync on CRA"
Federal regulators spent a lot of time testifying before Congress this week and got an earful from members who want the OCC and FDIC to get the Fed on board before proposing CRA reforms. American Banker had a related story on eight other issues the regulators are grappling with.
"Bank Branch Closings Weigh on Rural Communities, Fed Finds"
This The Wall Street Journal story came out during Thanksgiving week so I wanted to be sure you saw it, especially if you operate in rural areas. According to a Fed report, 51% of the 3,114 counties in the U.S. saw net declines in the number of bank branches between 2012 and 2017. You can read the full report here.
"Threat of Negative Rates has Banks Setting Floors on Loans"
Low interest rates have more bankers weighing whether to impose a floor on their loan rates.
"Supreme Court to Hear CFPB Constitutionality Case in March"
It's finally happening: The Supreme Court will hear arguments March 3 in a case challenging the constitutionality of the Consumer Financial Protection Bureau's leadership structure.
"Highs and Lows in FDIC's 3Q Report on Industry's Health"
The FDIC's Quarterly Bank Profile is a smorgasbord of great data and this American Banker story highlights some trends including an uptick in charge-offs, particularly among C&I loans.
"The Biggest Technology Trends That Will Disrupt Banking in 2020"
The Financial Brand has a comprehensive look at how the latest tech trends – from 5G to blockchain to cloud computing – may affect how you run your bank.
"What Ongoing Repo Turmoil Means for Banks"
Have questions about the Fed's moves to buoy the repo market, but were afraid to ask? Check out this American Banker piece, it's concise and smart.
"Goldman Sachs Seeks to Rebrand as Wealth Takes Center Stage in the Democratic Presidential Race"
The Washington Post has an interesting look at Goldman Sachs' efforts to soften its image by supporting small businesses.
"One Issue Bringing Democrats and Republicans Together? Banning Big Tech From Banking"
Add Congress to the list of hurdles facing tech companies trying to steal market share from banks.
"The Navy Commander Behind the Credit Union Banks Love to Hate"
American Banker gave its annual Lifetime Achievement Award to Cutler Dawson, the admiral who built Navy Federal Credit Union into the fierce competitor it is today. It's a good read about hands-on leadership.
"Need to Pay the Babysitter? Don't Even Think About Using Cash"
It's a perennial story: cash is dead. I'm nearing 60 and I still prefer cash, especially for smaller purchases. But this The Wall Street Journal story quotes a statistic that only 37% of people used cash for transactions under $20. And the overall point of the story is that the young's aversion to cash is forcing older people to adopt new money-transfer technologies.
"The Best Photos of 2019"
National Geographic is out with its 100 best pics of the year. It's heavy on animals, which is A-OK by me. My favorite is a shot of thousands of sea turtles coming on shore in Costa Rica to lay their eggs.
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Barb Rehm
Senior Managing Director
Promontory Interfinancial Network, LLC
Arlington VA
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