Monthly Archives: February 2011

What Congress is Saying About the Debit Card Rule

“If there’s one thing that I hope you will take from this hearing this morning, it is that a delay in the implementation of this rule is definitely in order. Several of my colleagues have asked would that be a … Continue reading

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Top 20 Takeaways from Dodd-Frank. #19

#19: Global Harmonization “Think Big” I mentioned in the beginning how large banks and small banks were connected to each other – turns out, we’re connected around the world. Our customers are abroad: Maybe you are financing crops that are … Continue reading

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Top 20 Takeaways from the Dodd-Frank Act, #18

#18 Politics Matter “Speak Up” Democracy is not a spectator sport. In the last three election cycles, we’ve seen only the ones who speak get heard. You need to be on a first name basis with all of the Congressmen … Continue reading

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401(k) Balances Reach 10-Year High

As reported by Bloomberg, February 23 2011 The average account balance rose to $71,500 in 2010, up about 11% from the end of 2009, according to Fidelity Investments.    About two-thirds of the increase in account balances last year was driven … Continue reading

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Financial market competitiveness and economic recovery

President Obama has created a Council on Jobs and Competitiveness, chaired by GE’s Jeff Immelt.  Congressional Republicans have promised vigorous oversight of Dodd-Frank for “jobs killing” provisions.  To connect the dots, we need to ensure that the United States is … Continue reading

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INTERCHANGE RULE WOULD INCREASE EARNINGS, HOME DEPOT EXEC SAYS

 The Federal Reserve’s interchange proposal could translate into an additional $35 million per year profit for Home Depot, a company executive said yesterday during a conference call regarding the retailer’s fourth quarter profits. “[T]he Durbin amendment asked the Federal Reserve … Continue reading

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Top 20 Takeaways from the Dodd-Frank Act, #17

#17Changing Demographics “Boomers Still Rule” Boomers have been in charge since the first Boomer, Kathleen Casey-Kirschling, was born one second after midnight on Jan. 1, 1946. She filed for early retirement on October 16, 2007, becoming the first baby boomer … Continue reading

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Corporate Income Tax, The Most Harmful Tax for Economic Growth

The Organization for Economic Cooperation and Development (OECD) recently ranked various tax policies according to their impact on economic growth. Corporate income taxes proved most harmful to the economy, followed by personal income taxes, and then consumption taxes. The executive … Continue reading

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TD Bank Wins “Leadership in Financial Literacy Award”

This week the Financial Services Roundtable proudly presented TD Bank with the “Leadership in Financial Literacy” Award. Suzanne Poole, Executive Vice President, Retail Sales Strategy and Distribution, TD Bank, received the award on behalf of the TD Bank for completing … Continue reading

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Top 20 Takeaways from the Dodd-Frank Act, #16

# 16 Fair Value Accounting “Time to Rethink” The industry has had trouble with fair value accounting for some time, and FASB has turned a deaf ear.   But there is a new chair, Leslie F. Seidman, who is now listening.  … Continue reading

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