Banking
Top stories summarized by our editors
10/14/2019

The Federal Reserve aims to stabilize money markets and to bolster its balance sheet by buying $60 billion in Treasury bills a month. The program will begin Tuesday and will continue "at least into the second quarter of next year."

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Treasury
10/14/2019

If clients need funds during retirement, one option to consider involves taking out a reverse mortgage and using a line of credit. Focusing on the example of a 65-year-old client with a $350,000 home, this article explores the costs and benefits of a reverse mortgage in addition to other factors.

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Advisor Perspectives
10/14/2019

Rep. Ayanna Pressley, D-Mass., introduced a bill that will stop a Consumer Financial Protection Bureau rule Pressley says will allow debt collectors to send unlimited text and email messages to consumers. Pressley said the CFPB rule does not have clear limits on the number of messages debt collectors can send, while CFPB Director Kathy Kraninger said customers could unsubscribe to messages.

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Rep. Ayanna Pressley
10/14/2019

The Consumer Financial Protection Bureau is creating a task force that will consider changes to financial laws and regulations. The CFPB is currently looking for people who want to serve on the task force.

10/14/2019

Fifty five percent of millennials do not have a retirement account and among the 45% who do, 12% aren't contributing to them, a survey from Business Insider and Morning Consult found. One of the main reasons that millennials in the survey cited for not saving for retirement is not earning enough.

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Business Insider
10/14/2019

Facebook's global cryptocurrency-based payments project Libra has suffered a serious setback as Mastercard, Visa, eBay and Stripe followed PayPal in dropping out of the Libra Association.

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Visa
10/14/2019

Nine banks including Deutsche Bank, Goldman Sachs, Morgan Stanley have announced the Project Mars initiative created to ease the sale of corporate bonds on electronic trading platforms.

10/14/2019

Younger adults are more likely to deposit their money in an online bank run by a tech giant such as Amazon or Google, according to a joint survey by the Consumer Bankers Association and financial industry consultant Novantas. Consumers who save every month and check their balances frequently are more likely to use traditional banks with branches, according to the joint survey.

10/11/2019

Credential reuse, improperly elevated permissions and careless sharing of code in public repositories are among the ways even IT experts create security vulnerabilities, writes Joey D'Antoni. His "Data Breach Game" highlights the "worst IT security practices" and explains how to remedy them.

10/11/2019

Financial market participants and regulators increasingly agree that regulatory support is essential to the continued expansion of green finance. The European Securities and Markets Authority is working on a proposal to create accredited external verifiers to determine whether products and transactions promoted as being green really comply with the principles of green finance.

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Practice Insight