ABA Banking Journal
August 7, 2015

This ABA Banking Journal newsletter is a free, twice-monthly supplement to the ABA Banking Journal magazine intended to help you stay on top of industry and policy news. You can also stay abreast of banking news by visiting aba.com/BankingJournal, home to ABA Daily Newsbytes and other email bulletins.

Industry News
Wells Fargo & Co. is turning to an unlikely source for advice: the video-game industry. The lender bought a small stake in a startup that makes behavior-predicting technology used by game-makers to retain mobile players. (Bloomberg)
 
A little paranoia is a good thing as far as Richard Parsons is concerned. The 31-year veteran of Bank of America and author of Broke: America’s Banking System, shares former Intel chairman Andy Grove’s belief that only the paranoid survive "10x forces"—degrees of change that reshape an industry. (ABA Banking Journal)
 
The U.S. Senate’s newest plan to save the highway trust fund would slap a new tax of roughly $16 billion on banks. (Forbes)
 
U.S. consumer confidence took its biggest tumble in four years in July on a less upbeat jobs outlook, while home appreciation in major cities stalled in May, suggesting a spring pause in housing demand. (Reuters)
 
D+H
Crowe Horwath
It's not a return to traditional "bankers' hours," but some lenders have reduced the times that their bricks-and-mortar operations are open in an era of online and mobile banking. (Chicago Tribune)
 
Though it remains to be seen how these experiments evolve, big financial players have begun discussing experiments with the bitcoin blockchain and other decentralized ledgers. (CoinDesk)
 
D+H
Policy News
The new recordkeeping standards contemplated by the FDIC for banks with more than 2 million deposit accounts—intended to help the agency determine promptly whether deposits are insured or not after a bank fails—would require major upgrades to bank IT systems, ABA said in a comment letter yesterday. (ABA Banking Journal)
 
Navigating regulatory expectations on fair lending has often felt like threading a needle—and these days, the needle’s eye is getting smaller. In many fair lending cases, bankers are caught between avoiding fair lending risk in access to credit and in the pricing and quality of credit products. (ABA Banking Journal)
 
PULSE, a Discover company
PayNet Incorporated
A Colorado-based credit union created to serve the country’s fast-growing legal marijuana industry sued banking regulators on Thursday after being denied access to the nation’s electronic banking system. (USA Today)
 
With the Dodd-Frank Act blowing out the candles on its fifth birthday cake this week, government watchdogs have been up in arms with tales of single-branch community lenders struggling with the burden of compliance. (CNBC)
 
PULSE, a Discover company
Events
September 27-October 2
Emory Conference Center & Hotel, Atlanta, GA

September 27-October 2
Emory Conference Center & Hotel, Atlanta, GA

October 4-6
Hyatt Regency Denver, Denver, CO
 
October 12-14
JW Marriott Grande Lakes, Orlando, FL
 
 

 

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