The 2018 Identity Fraud Study released by Javelin Strategy & Research found that hackers stole more Social Security numbers than credit card numbers in 2017 and had a record year for identity thefts, with 16.7 million stolen. The study also reported that switching to chip-based EMV cards has cut point-of-sale theft dramatically.
An outage that began Thursday, locking millions of BB&T customers out of online banking, the company's mobile banking app and ATMs, was ongoing this morning. Customers can still use their debit, credit and prepaid cards, the bank said.
JP Morgan Securities recruited six individual advisers or teams in the fourth quarter of 2017, acquiring nearly $8.2 billion in client assets and contributing to the company's net gain of approximately $5.6 billion. Raymond James Financial also saw a net gain of $5.6 billion in adviser assets, while LPL Financial gained $4.2 billion and RBC Wealth Management gained almost $2.7 billion.
Sallie Krawcheck, CEO of women-led digital investing platform Ellevest, said on an episode of "MAKERS Money" that women hold nearly two-thirds of US student loan debt, and repayment is made more difficult by the gender pay gap. Personal finance blogger Tiffany Aliche suggests that borrowers request forgiveness or enroll in an income-based repayment plan.
The Federal Reserve should move patiently and deliberately toward rate hikes in 2018, and three hikes during the year would be reasonable, said Dallas Federal Reserve Bank President Robert Kaplan. He told the Greater Vancouver Board of Trade in British Columbia he would give this year's economy a grade of B+ or A-.
Nebraska-based First National Bank of Omaha said it will not renew its contract with the National Rifle Association for the group's NRA Visa card, with spokesman Kevin Langin saying, "Customer feedback has caused us to review our relationship with the NRA." Langin did not disclose what kind of feedback the bank received or when the contract expires.
The nation's largest privately held bank plans to end a relationship with the National Rifle Association based on customer feedback, bank officials say. Nebraska's First National Bank of Omaha, which offers a Visa credit card that features the NRA logo, says it will not renew a contract with the association.
Acting Consumer Financial Protection Bureau Director Mick Mulvaney has asked for public comment on a handful of topics, including the civil investigative demand process, enforcement processes, supervision and external engagements. With the bureau planning to request comment on approximately a dozen topics, CBA says it will comment on most, if not all, requests for information.
Customers can apply for an auto loan on US Bank's website and receive a decision in minutes. The bank partners with financial-technology firm AutoGravity to offer the feature, which will be added to US Bank's mobile app in coming months.
Some Wells Fargo customers experienced a technical glitch Thursday that locked them out of accounts. Last week, the bank acknowledged a separate issue that prevented some customers from seeing online deposits in accounts.
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