MidSouth Bank President and CEO Rusty Cloutier is hitting the national airwaves Monday afternoon, appearing as a guest on The Hays Advantage, a Bloomberg Radio talk show hosted by longtime economics reporter Kathleen Hays.
Hays' talk show focuses on the economy and state of the market, while also honing in on economic policy.
Cloutier says he's been asked to discuss the banking industry and the state of the local economy since the BP oil spill disaster came ashore more than a year ago.
Cloutier will have good news to report on the local economy, he says, highlighting the recent ExxonMobil oil discover, but will also touch on new banking regulations and how the drastic changes are impacting the bottom line for smaller community banks.
One point of interest for Cloutier is the new Federal Reserve policy still in limbo of capping the fees banks charge for each debit card transaction made. Banks charge a small fee to process each debit card transaction, and the 12-cent cap proposed has been a hotly contested issue for banks that equals 75-80 percent less than what banks currently charge on average, as noted by The International Business Times:
[Federal Reserve Chairman Ben] Bernanke clearly has concerns about the unintended consequences of the Durbin amendment and the Fed staff proposal that would limit debit-card interchange fees to $0.12 per transaction, which would reduce bank debit-card interchange revenue by about 75 percent.
Bernanke is also clearly aware of the banking industry's estimate that the higher fees banks will charge on checking accounts to recover lost debit-card revenue could push perhaps 5 percent of current bank customers out of the system and into the use of check-cashing stores and other nonbank financial services.
Hays' radio show is from 11 a.m. to 2 p.m. daily on Bloomberg Radio; Cloutier is set to join the conversation at 1 p.m.
State bar foundation bestows honor on founder and managing partner of NeunerPate
National awards recognize outstanding achievement in leadership development and leadership programs
A federal court magistrate has issued a seven-page schedule of hearings, conferences and deadlines leading up to January’s trial aimed at determining how much money BP will owe in Clean Water Act fines as a result of its 2010 Gulf of Mexico oil spill.
The state’s “greedy trial lawyers” haven’t scared this oil giant away.
Smaller Microsoft Store installations sell a wide array of Microsoft products (Windows phones, Surface tablets and Xbox consoles) but don’t include everything.
See cutting-edge technologies Thursday in brief presentations/demonstrations from 3rd Dimension Media, C&C Technologies, Cimation and UL Lafayette School of Engineering.
C & C Technologies, HIT Fitness, R3 Sciences, the Acadiana Symphony Association and the United Way of Acadiana recognized for innovation.
Under the deal, Teche shareholders would get 1.162 shares of IberiaBank for each share of Teche stock.
Dave Perkins, LCG Comp Plan honored along with local architects and designers at the 2014 INDesign Awards
Greg Manuel’s Lafayette-based residential development company is taking advantage of exponential industrial growth in Lake Charles.
Longtime Lafayette retailer ventures online.
The annual juried competition recognizes excellence in architecture, interior design and historic preservation in Lafayette and the five surrounding parishes.
It’s not how aggressive or conservative you are — it’s planning for risk that matters most.
Cypress Bayou GM hosts open house.
Thanks to cutting-edge digital technology, more and more consumers are banking on ATMs and mobile phones.
Regional bank bids farewell to Downtown May 30
ABiz takes a look back at the most noteworthy moments for the local banking industry over the last year.
Most experts say short-term interest rates will be unchanged through 2014, but long-term rates are inching up.
New hires, promotions, transfers in Acadiana business
The scion of a landmark Four Corners restaurant climbs back into Lafayette’s culinary scene as franchisee for a popular burger chain.
Largest recruitment event in Acadiana returns May 21 to the Cajundome Convention Center
A lawyer’s ad should only be a starting point, as there is much more to consider when seeking quality representation.
Thanks to the inaugural 2012 INNOV8, a design for lifting heavy objects was brought to market.
His company bankrupt and being liquidated, the Lafayette businessman’s financial troubles are mounting.
Georgia-based fried chicken chain would go up against Raising Cane’s, Chick-fil-A and others (like the Popeyes near its proposed location).