Banking
Top stories summarized by our editors
11/21/2019

Mimecast reports that the transportation, storage and delivery sector was among the top targets for cyberattacks in the third quarter -- along with the banking and legal sectors -- as state-sponsored hackers worked to disrupt logistics and supply. Attackers use various techniques, including voice phishing and domain spoofing, which means companies need to adopt comprehensive cyberdefense strategies.

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DC Velocity online
11/21/2019

The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. will announce proposed changes in the Community Reinvestment Act without the Federal Reserve. The Fed could not agree on how CRA investment would be measured and wanted more emphasis on the number of loans.

11/21/2019

The average credit score for GenZ Americans is 637, higher than the scores for Millennials and GenX, according to an evaluation of loan applications made between July 2018 and July 2019 by LendingPoint. Baby Boomers still had the highest average credit score at 645.

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HousingWire
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GenZ
11/21/2019

The Consumer Financial Protection Bureau is asking the public for comments on the TILA-RESPA Integrated Disclosure rule, which requires mortgage lenders to use standardized forms and provide borrowers loan and closing costs estimates within three days. The CFPB wants information on how to improve the rule but could also eliminate it.

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HousingWire
11/21/2019

People aged 18 to 37 are putting almost 16% of their annual income toward retirement, compared with 14% to 15% for people between the ages of 38 and 70, according to a survey by Schroders.

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CNBC
11/20/2019

The House has voted 231-192 to approve a stopgap funding measure aimed at averting a US government shutdown Friday and has sent the bill to the Senate. The Trump administration has signaled support for the legislation, Senate Majority Leader Mitch McConnell says.

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Reuters, The Hill
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Senate
11/20/2019

About 72% of GenZ and 60% of millennials visit a bank branch at least once a month, according to a study by Adobe Analytics. The findings show that bank branches are still important to consumers, according to Nate Smith, group manager at Adobe Analytics.

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CNN
11/20/2019

Consumers who use financial apps such as Venmo and PayPal are unaware their banking data is being shared elsewhere, according to a report from The Clearing House. The apps are not owned by banks even though they may display a bank's logo when collecting payments, according to the report.

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WTSP-TV (Tampa, Fla.)
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The Clearing House, Venmo
11/20/2019

A Magecart card-skimming script that was active on Macy's website for about a week stole the financial data of a small number of customers, the company said. The script was removed the day it was discovered, and customers were notified and will be offered identity theft protection.

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ZDNet
11/20/2019

Retirement saving is now more like a carton of eggs rather than a nest egg because there are multiple streams of income for most people, writes Joe Elsasser of Covisum. A modern retirement plan must reflect this and include strategies for tapping into Social Security, minimizing taxes and accounting for the unexpected, Elsasser writes.