Banking
Top stories summarized by our editors
2/16/2018

Being given a stretch assignment from your manager is an opportunity to advance your skills, says Mikaela Kiner, founder and CEO with uniquelyHR. "The assignment should help you do one or more of the following: Build new skills, increase your visibility, try out a new discipline or geography or gain an experience like managing people that you haven't had before," she says.

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Glassdoor
2/16/2018

Congress should require all companies "to protect sensitive personal and financial data with a strong but flexible, scalable data security framework," FSR'S vice president of government affairs for payments, Jason Kratovil, wrote in a letter to the House Subcommittee on Financial Institutions and Consumer Credit. Noting that certain sectors already operate under data security requirements, he continued, "No reasonable person would conclude that the status quo lack of federal requirements that all other companies should protect sensitive data and be required to notify consumers of a breach is acceptable in today's data-intensive economy."

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Compliance Week
2/16/2018

Recent studies that seek to define the ideal retirement age have come to different conclusions, with one finding that people who took early retirement were less likely to die in the subsequent few years, while another suggested that early retirement might increase the mortality rate for men. Physicians note that working longer can bring health benefits, including mental stimulation and social interaction.

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Next Avenue
2/16/2018

The Consumer Financial Protection Bureau's rule on small-dollar lending is based on flawed research and should be rescinded, writes Rep. Dennis Ross, R-Fla., a member of the House Financial Services Committee. Ross has introduced a bill to overturn the rule by using the Congressional Review Act.

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Morning Consult
2/16/2018

Only 14% of Americans had internet access when the Community Reinvestment Act was last revised in 1995, and reform should address the needs of 21st-century consumers, writes Steven Zeisel, executive vice president and general counsel of CBA. Regulators must look at banks' digital banking efforts, as well as physical locations and branches, he writes.

2/16/2018

Multiple states have data-protection laws, but national standards are needed, industry leaders said during a meeting of a House Financial Services subcommittee. "When you review the current landscape of state laws, you find a complex matrix of inconsistent, sometimes duplicative and often contradictory requirements," Nathan Taylor of Morrison & Foerster told the Financial Institutions and Consumer Credit Subcommittee.

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Pymnts
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Morrison & Foerster, Congress
2/16/2018

The Consumer Financial Protection Bureau "politicized regulation" and "flouted the law" under former Director Richard Cordray, and changes are needed, writes Eric Grover of Intrepid Ventures. Acting Director Mick Mulvaney is making changes, but real change needs to come from Congress or courts, Grover writes.

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The Hill
2/16/2018

Financial-technology investment hit $5.8 billion during the fourth quarter, the third consecutive quarter of increase, according to KPMG. More financial institutions are partnering with fintech firms as they prioritize digital innovation, says Anthony Rjeily of KPMG.

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Fintech, KPMG, KPM
2/16/2018

US Bancorp must pay regulators $613 million in fines for deficiencies in its anti-money-laundering program. The bank says it has expanded its anti-money-laundering program and has changed the program's leadership.

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US Bancorp
2/15/2018

The Consumer Financial Protection Bureau is seeking comments about its supervision activities -- its fourth request for information as it attempts to streamline processes. The agency says it will ask for input next week on its external engagement process and will ask about other matters in coming weeks.

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HousingWire