Briefs: CBA lets its media chief go, GE to be regulated as bank, Teachers Bank prices senior notes, 27 November 2014 4:06PM Banking Day staff Briefs, Commonwealth Bank's general manager of media, social and PR, Jen Davidson, is to exit just weeks after the completion of the bank's media review, AdNews reports. Davidson led the review, after the pitch was called in July. Ikon retained the CBA media account, which had not been up for pitch for six years previously. AdNews speculates that Davidson's departure could be part of a further restructure within the media team. In the last year she has launched a branded blog, developed and implemented a PR and social content strategy and brought a community management function in-house. The third quarter of 2014 was relatively quiet for covered bond issuance from Australia as compared to 2Q 2014, according to the rating agencies, Fitch and Moody's. In total only A$2.2 billion was issued between Commonwealth Australia Bank and National Australia Bank, taking total covered bond issuance to $77.4 billion. By the end of 3Q 2014, the largest share of covered bonds from Australian issuers was in USD (34.2 per cent), followed by EUR (33.9 per cent) and AUD (19.9 per cent). Of the $2.2 billion issued during Q3 2014, the majority was issued in USD (61 per cent). GE Capital will be held to the same standards that apply to large bank holding companies in the United States, the Federal Reserve foreshadowed yesterday. The Fed said its proposed order would also apply certain additional prudential standards to GE Capital given its risk profile and structure. GE Capital will also be subject to the enhanced supplementary leverage ratio, which is applicable to the largest, most important US banking organisations. GE Capital was designated as systemically important by the Financial Stability Oversight Council in 2013. ASIC has started legal action in the Federal Court of Australia in Melbourne against Make It Mine, seeking financial penalties for breach of consumer credit laws, including the responsible lending obligations. ASIC's proceedings allege the company, which sells electronic devices and white goods via instalment payments to people who receive government benefits, failed to collect financial information from customers and failed to assess whether the contracts were suitable. The company has admitted its contracts failed to include details regarding the interest rate being charged, as well as the cash price (or market value) of the goods being purchased via the hire-purchase arrangement, as distinct from the total contract price of the goods. Teachers Mutual Bank has priced its inaugural issue of senior unsecured notes. The bank raised A$70 million, paying 105 basis points over the three-month bank bill swap rate on the three-year floating rate notes. Pricing was at the lower end of the indicate range. Earlier this month Moody's gave TMB a long-term rating of A3. The bank also has a BBB+ rating from Standard & Poor's. The NSW government is co-ordinating a committee developing a 'fintech hub' to incubate and accelerate innovation and start-ups in financial services. Sixteen fintech start-ups, including peer-to-peer lender SocietyOne, will become foundation tenants of the space in Sydney's CBD, reports the Australian Financial Review. This continues a global pattern, according to KPMG partner for financial services, wealth management and technology, Matt O'Keefe. He said HSBC, Santander, Barclays, BBVA and American Express had collectively invested about $1 billion in incubator hubs in the last year.