Workers with student-loan debt could benefit from legislation in Congress intended to encourage employers to help with debt repayments. Under the proposal, companies could contribute up to $5,250 each year, tax-free, toward payments on employees' student loans.
People should avoid the misconception that a job search during record unemployment is going to be easy, because that sets them up for disappointment, writes J.T. O'Donnell, CEO of WorkItDaily.com. Improve your chances and your mindset by surrounding yourself with positive people and staying current with networking and interview best practices.
The Natural Gas Supply Association and the National Corn Growers Association object to a standard proposed by banking regulators that would raise the cost of commodity derivatives transactions used to hedge risk. The groups say the change would effectively make the marketplace off-limits for many small banks and commercial end users.
Federal Reserve Bank of San Francisco President Mary Daly says there is a possibility that no interest-rate increases will be imposed in 2019, as long as the economy progresses as expected. Her comments echo remarks made last month by Fed Chairman Jerome Powell, who said "the case for raising rates has weakened somewhat."
US financial executives cited cybersecurity as the top issue facing banks in a survey by financial-technology provider CSI. Regulatory relief and current expected credit loss standards were other significant concerns.
The state of West Virginia might soon accept bids from financial institutions that want to handle accounts for marijuana businesses. A bill setting up a framework for medical marijuana banking has passed the state's House and advanced to the Senate.
USAA has an ineffective risk-management program, an insufficient audit program and an IT program that doesn't meet federal standards, the Office of the Comptroller of the Currency said in a 21-page agreement with the bank. The bank, which was not fined, did not admit or deny the claims.
Industry observers are optimistic that the new Congress will enact retirement-related legislation, with several measures having broad bipartisan support. A bill recently introduced in the House includes a measure that would create a safe harbor for defined-contribution plan sponsors when they select lifetime income providers.
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