ABA Banking Journal
October 2, 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
Of three generations queried in a Wells Fargo/Ipsos survey, millennials expressed the most optimism about the present and future path of the economy and their current and future financial situations. (ABA Banking Journal)
There are now more credit cards than there have been since 2008—when the financial crisis hit. The number of new accounts has increased by 14 percent in the past year. (Cleveland.com)
Over the last couple of years, retail has been a rich hunting ground for online criminals. As the size and scope of such attacks at retailers has grown, so have the losses, which have been largely shouldered by financial institutions. (New York Times)
ProcessUnity Incorporated
Dan Ciporin—a general partner at the venture-capital firm Canaan Partners and one of Lending Club’s first investors—discusses the future of the fin tech industry, its growing pains, how Google-like advertising buyers market could emerge and how it could shake up the insurance industry. (Wall Street Journal)
ABA congratulated the women named to American Banker Magazine’s "25 Most Powerful Women in Banking" and "25 Women to Watch in Banking" lists. All 50 women on the two lists are associated with ABA member banks. (ABA Banking Journal)
Kelly King, BB&T chairman and CEO, discusses the three areas of banking that will likely change in the future, and former Wells Fargo CEO Dick Kovaceich weighs in. (CNBC)
In the latest sign that the technology behind bitcoin is being embraced by the corporate world, IBM says it’s exploring how the cryptocurrency’s shared ledger system can be used in fields from banking to the Internet of Things. (Fast Company)
Thirteen top banks, including HSBC and Deutsche Bank, have joined a consortium led by financial tech firm R3 that is working on a framework for using blockchain technology in markets. (Reuters)
Policy News
The Federal Reserve’s liftoff may be far more turbulent for banks than many expect. Investors should buckle up. (Wall Street Journal)
The banking industry is aiming to win more rollbacks of the 2010 Dodd-Frank financial overhaul by having them ride on year-end legislation. (Roll Call)
Testifying before the House Financial Services Committee, CFPB Director Richard Cordray signaled that the bureau and other financial regulators are working on guidance for a formal ‘hold-harmless’ period to facilitate compliance after the TILA-RESPA integrated disclosures take effect. (ABA Banking Journal)
PULSE, a Discover company
Regulated banks that extend loans to oil and gas companies not only face the prospect of failing to recoup their investments in the sector—they also operate under the watchful eyes of numerous regulatory agencies. (Forbes)
As U.S. banks continue to face new regulations, Rep. Brad Ashford, D-Neb.,—during a bank visit that was part of ABA’s Take Your Lawmaker to Work Week—questioned whether it makes sense for a community bank with $250 million in assets to be subject to the same requirements as an institution 10,000 times bigger. (Omaha World-Herald)
PULSE, a Discover company
October 4-6
Hyatt Regency Denver, Denver, CO
October 12-14
JW Marriott Grande Lakes, Orlando, FL



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