| News for financial services executives |  |
| Top Story |  |  |
|
| Industry Watch | | |
|
- Fed seeks suggestions for structuring "stress tests"
The Federal Reserve is seeking feedback from financial institutions on how to carry out its "stress tests" for assessing the firms' vulnerabilities to adverse conditions. The central bank already has disclosed the banks' capital requirements and the stress tests' hypothetical scenarios. Scott Talbott, senior vice president of public policy for The Financial Services Roundtable, said the industry is "in uncharted territory, as it relates to these types of stress tests." The Hill
(12/4)      
- FDIC: Quarterly bank earnings hit highest level in 6 years
Banks' revenue grew 3% in the third quarter from the same period last year, the largest uptick in almost three years, reports the Federal Deposit Insurance Corp. Quarterly profits rose 6.6% to the highest level in six years. The quarter marked the first time in three years that bank gains were attributed primarily to traditional revenue, as opposed to lower provisions for loan losses. The Wall Street Journal
(12/4)
| Technology & Trends | | |
|
- Few taxpayers claim mortgage-interest deduction
Placing limits on the U.S. mortgage-interest deduction, an idea raised in the debate over how to cut the budget deficit, would have consequences for relatively few homeowners, according to government data. The Internal Revenue Service said only 25% of people filing tax returns claim it. USA Today
(12/5)
| Economic Report | | |
|
| News from the Hill | | |
|
| Members in the News | | |
|
- Branches are still key, JPMorgan CFO says
JPMorgan Chase plans to continue building new branches as it seeks more deposits, Chief Financial Officer Doug Braunstein says. "Even in the current rate environment, deposits are a very good business," he said. With mobile banking on the rise and profit margins on deposits at historic lows, analysts and investors have pressured banks to justify new branches. Reuters
(12/4)
| Roundtable in the News | | |
|
- Roundtable urges lawmakers to address "fiscal cliff" first
The Financial Services Roundtable is asking President Barack Obama and lawmakers to focus on averting the "fiscal cliff" and leave the details of reducing the federal deficit till early next year. "We urge you to bridge over the fiscal cliff and to do so as soon as possible," Roundtable President and CEO Tim Pawlenty wrote. "The economy needs stability, predictability, and certainty. Short-term economic output would be greater and unemployment lower in 2013 if the fiscal cliff is addressed." Insurance Journal
(12/4)
| Financial Services Roundtable at Work | | |
|
-
ITAC survey offers new insights into child identity theft
One in 40 households with children under age 18 had at least one child whose personal information was compromised by identity criminals, according to a new survey sponsored by ITAC, the Identity Theft Assistance Center. "This survey provides the first solid, verifiable statistics on the causes and consequences of child identity fraud," ITAC President Anne Wallace said. "The results will help ITAC and its government and nonprofit partners improve strategies to prevent and detect child identity fraud and assist victims" in recovering from the crime.
The survey, conducted by Javelin Strategy & Research, confirms that the incidence of child identity theft is lower than the incidence of adult identity theft. Findings also show that criminals often combine a child's Social Security number with other data to create a synthetic identity, which is more difficult to detect than account takeovers and other types of identity theft. The report is available by request at identitytheftassistance@gmail.com.
| SmartQuote | | |
|
 | The forceps of our minds are clumsy things and crush the truth a little in the course of taking hold of it."
--H.G. Wells,
British author
|
| |
| Advertise |
|
Sales Account Director:
Abiy Bekele 212-450-7919
|
|
|
| |
|
Read more at SmartBrief.com |
|
A powerful website for SmartBrief readers including:
|
|
|
|
| |
| |
| | Recent The Financial Services Roundtable SmartBrief Issues:
- Tuesday, December 04, 2012
- Monday, December 03, 2012
- Friday, November 30, 2012
- Thursday, November 29, 2012
- Wednesday, November 28, 2012
| | | Lead Editor: Ashley Fletcher Frampton
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004 | |
| |
|
| © 1999-2012 SmartBrief, Inc.® Legal Information |
|
