Top Story

• State of Union speech reportedly will focus on jobs
  President Barack Obama will focus on creating jobs and reducing unemployment in his State of the Union speech Tuesday, an aide said. Analysts say Obama could take a more forceful approach to accomplishing his policy goals in his second term, pressuring Republicans who oppose him more than he has in the past. Politico (Washington, D.C.) (2/11), The Wall Street Journal (2/10)     

The CFPB Today

• Editorial: Republicans use "backdoor methods" to destroy CFPB
  Republicans' arguments for changing the structure of the Consumer Financial Protection Bureau are "designed solely to give Congress more opportunities to stop financial regulation," the New York Times writes in an editorial. Republicans support a bipartisan board to run the CFPB instead of a director, but a commission would "quickly reach a stalemate and become inoperative," the paper writes. The New York Times (tiered subscription model) (2/10)     

Industry News

• 9 states consider prohibiting credit card surcharges
  Legislators in Utah and Missouri are introducing bills that would ban merchants from adding surcharges for consumers using credit cards. That brings to nine the total number of states contemplating such action. Ten states have already enacted such laws. AmericanBanker.com (free registration) (2/8)     

• FDIC relaxes rules for hiring those with past offenses
  Financial institutions can more easily hire individuals who committed minor crimes. The Federal Deposit Insurance Corp. has broadened its rules, allowing the hiring of people with convictions that required fewer than three days' jail time or fines of $2,500 or less. AmericanBanker.com (free registration) (2/8)     

• Money-laundering rules might not be as tough as expected
  The Treasury Department, which is set to strengthen money-laundering regulations in the next few weeks, has backed away from some of the strictest proposals but will likely still require banks to collect more information than they currently do. Regulators likely will ask banks to determine who profits from new corporate accounts but will not require them to independently verify that information. The Wall Street Journal (2/10)     

• Expert: Hackers could turn from banks to other businesses
  The success of recent cyberattacks on U.S. banks is likely to inspire other hackers, and the target could shift to other types of commerce, according to one expert. Hacking software and the availability of computers for rent make it easier for attackers to wreak havoc, says Jeff Bardin, a cybersecurity consultant. "There is a virtual proliferation of small arms," he said. "It's like leaving weapons on the physical battlefield. They get picked up." Pittsburgh Tribune-Review (2/9)     

Legislative Affairs

• Warren: I'll urge transparency in banking committee role
  Sen. Elizabeth Warren, D-Mass., says her priority on the Senate banking committee is to bring "real transparency and accountability" to financial institutions and to "monitor our regulators to make sure they're doing their jobs." She says she also wants to streamline regulations and the tax code to help small businesses. MassLive.com (2/9)     

• Lawmakers will reintroduce last year's cybersecurity bill
  House Intelligence Committee leaders this week will reintroduce a bill that aims to stop cyberattacks by making it easier for businesses to share threats and malicious source codes with federal intelligence agencies. The bill failed last year after criticism from the White House and privacy advocates. The Hill/Hillicon Valley blog (2/10)

• Bonus, federal deficit are seen as likely questions for Lew
  Jack Lew received a bonus of nearly $1 million while at Citibank, just before the bank got a federal bailout. The bonus and his attitude toward the U.S. budget deficit are expected to be topics during a confirmation hearing that starts Wednesday. Reuters (2/10)     

Career Development

• What bosses should do instead of micromanaging
  It's tempting for leaders to micromanage their teams and big projects, but it's important to resist that urge, writes CollegeHumor CEO Paul Greenberg. Instead, focus on doing the things that nobody else in your organization can do: solving strategic problems, putting together a winning team and securing the resources your company needs to succeed. CNNMoney/Fortune/You Can't Fire Everyone blog (2/6)     

Hot Topics

Top five news stories selected by CBA SmartBrief readers in the past week.

• Warren vows to fight for CFPB; Hunt says she could forge compromise (Bloomberg)

• Are you seen as having bad manners? (USA Today)

• Supreme Court declines action on NLRB recess appointments (Roll Call (free content))

• Group protests cyber laws by posting bank execs' information (Financial Times (tiered subscription model))

• Loan demand strengthens in Q4 (The Wall Street Journal)

• Results based on number of times each story was clicked by readers.

CBA Connect

SmartQuote

The only man I know who behaves sensibly is my tailor; he takes my measurements anew each time he sees me. ... The rest go on with their old measurements and expect me to fit them." --George Bernard Shaw, Irish playwright