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.
1,595 rigs were exploring for oil and 332 for gas. A year ago there were 1,738 active rigs.
Prestigious honor annually recognizes a single attorney for excellence in public interest/pro bono work.
JPMorgan Chase is giving $1 million to Louisiana's community and technical colleges, to help with workforce training efforts to match students to available jobs.
Law firm unveils newly renovated 200-year-old building.
UL grad named web developer at BBR Creative
Lafayette-based emergency department staffing and management company raises $120 million in senior credit facilities through GE Capital, Healthcare Financial Services.
High-rise apartment building, parking garage, hotel and retail part of new development.
The number of Louisianans with jobs continued to set records in September, but the state's unemployment rate kept rising.
Louisiana is drowning, quickly.
An investment group led by Macquarie Infrastructure and Real Assets will buy the Louisiana power company Cleco for $3.4 billion.
Local developer’s Lake Charles Gardens LLC purchases buildings and leases; land still owned by Dugas family.
Economist Loren Scott says Louisiana is in the midst of an industrial boom unlike any other in its history, with more than $100 billion in industrial projects either under construction or in the engineering and design phase.
The Louisiana Treasury holds $18 million in Israel Bonds — bonds that earn 2.868 percent when the three-year U.S. Treasury is yielding 1.08 percent.
ABiz celebrates another class of Acadiana's most influential female trailblazers, the Lourdes Foundation honors a local philanthropist and MedExpress in Opelousas celebrates its 22nd year as the “little ambulance service that could.”
Is Louisiana’s O&G industry ready to head south of the border?
Downtown’s newest live-work space for creatives doubles as a gallery for other upcoming artists to show their work.
A maritime case originating in Lafayette federal court could become a game changer for the oil and gas industry.
Here’s what’s at stake in the November Senate race — regardless of whether Republicans gain control of the upper chamber.
From the publisher’s in-box: ABiz reaches out to Lake Charles, time to “Come Home, Louisiana,” and now accepting nominations for Entrepreneur of the Year.
In late September Cleco and UL Lafayette showed off the Cleco Alternative Energy Center, where researchers explore ways to generate power by using renewable resources.
The most recent promotions, hirings and announcements from Acadiana's biz community.
While Amendments 1 and 2 will shield some health care providers from the budgetary whims of Gov. Jindal, they could make higher ed even more vulnerable to cuts.
Age 60 looks good on the country’s second-largest oil and gas show.
Local pieces and logo-emblazoned corporate gifts
Let’s show how much we care what it looks like.