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Tag Archives: American Bankers Association

End of an era — Patterson retiring from BancorpSouth board

One of Mississippi’s iconic bankers is finally calling it quits after more than 40 years of service. Aubrey Patterson, chairman of the board of directors of BancorpSouth Inc. will retire upon the expiration of his current term. Patterson will serve as a chairman emeritus following the expiration of his term. Patterson served BancorpSouth as president and COO from 1983 to ...

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Retailers win big as court declares 21-cent swipe fee cap too high

The Federal Reserve’s Board of Governors erred in letting swipe fees that banks charge retailers for each debit card transaction go as high as 21 cents a transaction, a federal court ruled Wednesday. The ruling by the U.S. District Court in Washington drew the predicable applause from groups such as the National Retail Federation and scorn from the likes of ...

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Trustmark, Hancock head lengthy list of state’s 5-star banks in Mississippi

More than half of the banks based in Mississippi — including two of its largest, Hancock and Trustmark — received five-star ratings in the latest assessments from Bauer Financial. The five stars signify “superior” performance and are the highest grade awarded by the independent financial analysis and reporting agency based in Coral Gables, Fla. Consistently strong performance, profitability and capital ...

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Fannie, Freddie chief’s rejection of mortgage reductions has bankers smiling

  Fannie Mae and Freddie Mac won’t be taking part in the Obama administration’s home mortgage principal reduction program. That’s bad news for underwater homeowners but cause for rounds of high-fives among executives in the nation’s financial sector. The setback for homeowners came Tuesday when Federal Housing Finance Agency Acting Director Ed DeMarco bowed to pressure from Wall Street and ...

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ABA chief says Weill ‘misguided’ in wanting big banks broken up

Who would have expected this reaction? The head of the American Bankers Association is disappointed and dismayed by the about-face Citigroup chairman emeritus Sandy Weill has done on breaking up the nation’s big banks. Push the pause button on such thinking, Frank Keating, ABA president & CEO, urges. Weill, often described as godfather to the too-big-to-fail movement, announced on CNBC ...

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American Bankers Association: Compliance costs crushing community banks

The American Bankers Association warned a House financial  services subcommittee Thursday that the cumulative impact of years of added regulations has pushed the nation’s community banks to the tipping point. ABA representatives specially cited dramatically increasing compliance costs – estimated at $50 billion annually — and said they threaten the future of community banks. William B. Grant, chairman and chief ...

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Community Bancshares executives talk with lawmakers

Freddie J. Bagley, president and CEO of Community Bancshares Inc., and Chuck Nicholson, COO of Community Bancshares, visited the nation’s capital recently to voice their concerns about how current banking proposals could impact the local economy. The visit was part of the American Bankers Association’s annual Government Relations Summit. Bagley and Nicholson met with Senators Roger Wicker and Thad Cochran, ...

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American Institute of Banking courses now eligible for VA funding

U.S. military veterans are now eligible to earn the American Institute of Banking’s new (AIB) Military Banking Operations Diploma as part of their educational benefits provided by the Department of Veterans Affairs (VA). The VA approved the training program as a way of assisting veterans’ post-service careers. To make the program even more attractive to busy professionals and service members, ...

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ABA: Obama bank tax will sacrifice $600 billion in loans

The American Bankers Association reacted harshly Monday to President Obama’s proposal to levy a 10-year tax on the banking industry that would raise $61 billion to help U.S. homeowners refinance. Obama had previously proposed a “financial crisis responsibility fee” on financial firms with assets exceeding $50 billion. That idea has been changed into a proposal to tax banks to help ...

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Most loan categories show drop in tardiness

Consumer delinquencies fell in seven of 11 loan categories in the third quarter of 2011, with two categories – bank cards and home equity lines of credit — holding virtually steady, the American Bankers Association reports. The composite ratio, which tracks delinquencies in eight closed-end installment loan categories, fell 29 basis points to 2.59 percent of all accounts in the ...

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