Monthly Archives: March 2011

Financial Services and Community Service: A Massive Commitment

Last week, the American Banker recognized the breadth of community service provided by banks and their employees throughout America in their front page story Banks Give More Man-Hours, Less Money, to Charity, March 23.  There is more to the story, … Continue reading

Posted in Community Service, Financial Literacy | Comments Off

Independent Voice #6: Proposed Debit Interchange Rule

  “Without committee hearings by either chamber of Congress, [Senator Durbin] proposed (and in all likelihood the merchants had drafted) a price-capping arrangement for debit (but not credit) card interchange fees that had never been proposed or discussed in the … Continue reading

Posted in Uncategorized | Comments Off

Steve Bartlett Talks Competitiveness on CNBC

Posted in Uncategorized | Comments Off

Independent Voice #5: Proposed Debit Interchange Rule

“But merchants need to beware of what they are asking for. Allowing the Obama administration to fix prices could come back to bite them when the next logical step, controlling the price of consumer goods, follows.” REDSTATE

Posted in Uncategorized | Comments Off

Independent Voice #4: Proposed Debit Interchange Rule

“While we applaud Senator Durbin for taking steps intended to help protect merchants and to alleviate some of the costs they bear, there is no convincing evidence that employing federal pricing controls on interchange fees for debit swipes will meaningfully … Continue reading

Posted in Uncategorized | Comments Off

Independent Voice #3: Proposed Debit Interchange Rule

“We believe that this amendment, while well-intentioned, could have a significant negative impact on the cost of mainstream banking services to middle and lower-income consumers, including teachers and education support professionals” National Education Association  

Posted in Uncategorized | Comments Off

Wells Fargo, Chase, SunTrust cancel debit rewards program

As reported by CNNMoney: “Wells Fargo said Friday that it will no longer offer its debit rewards program for new customers. This will go into effect March 27 at Wachovia and April 15 at Wells Fargo… JPMorgan Chase notified existing … Continue reading

Posted in Uncategorized | Comments Off

Derivatives & Dodd-Frank

By July 2011, over 50 rules are scheduled to be issued by the SEC and CFTC regarding derivatives. These rules will not come in any particular order.  In fact, according to CFTC Chairman Gary Gensler,  derivatives products will not be defined until the late phase of … Continue reading

Posted in Uncategorized | Comments Off

JPMorgan Chase’s Jamie Dimon Visits Staff in Japan

This week, Jamie Dimon met with his staff in Tokyo.   He reminded employees that “JP Morgan did raise capital to help rebuild Tokyo after the 1923 earthquake. We will do everything we can to help now.” Read the full story at Reuters … Continue reading

Posted in Uncategorized | Comments Off

Independent Voice #2: Proposed Debit Interchange Rule

“The latest debacle is the looming Federal Reserve Rule to fix prices on debit cards, which threatens the flow of credit to low-income Americans and promises higher fees on bank services for nearly everyone else.”  The Wall Street Journal

Posted in Uncategorized | Comments Off