Banking
Top stories summarized by our editors
7/18/2018

Asking for feedback and ideas, genuinely listening and being supportive are three of 12 ways to build better relationships and credibility with those you lead, writes John Stoker. "Setting clear expectations and providing feedback will allow the person to learn and take responsibility for their results," he writes.

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SmartBrief/Leadership
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John Stoker
7/18/2018

Federal Reserve Chairman Jerome Powell said that with inflation close to a 2% target and with unemployment low, the central bank will probably keep gradually increasing interest rates. Powell told Congress raising rates too slowly could result in high inflation, while adjusting them too quickly could weaken the economy.

7/18/2018

An uptick in debt for Federal PLUS Loans for Parents is a result of students turning to their parents for help after having borrowed the maximum amount, suggests Mark Kantrowitz of Saving for College, who analyzed data from the National Postsecondary Student Aid Study. The limit for federal Stafford loans was reached by 40.3% of students in the 2015-16 academic year, up 1 percentage point from four years prior.

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Mark Kantrowitz
7/18/2018

Many pre-retirees surveyed are saving less than 10% of their income, State Street Global Advisors found in a recent study of retirement in eight countries, including the US. The report found a high likelihood that many people will outlive their retirement savings but noted that younger people have accepted that lengthier life spans may require them to work longer.

7/18/2018

Sen. Jack Reed, D-R.I., asked Federal Reserve Chairman Jerome Powell during a Senate banking committee hearing whether he considered the EU a "foe" of the US. "No, I do not," Powell answered.

7/18/2018

Several Democratic senators want Senate banking committee Chairman Mike Crapo, R-Idaho, to delay the confirmation hearing for Consumer Financial Protection Bureau director nominee Kathy Kraninger if they don't get a response to letters sent to her. The senators have asked about her roles in the response to Hurricane Maria and the separation of children from their families at the US-Mexico border.

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The Hill
7/18/2018

Publishing unverified complaints in the public database of the Consumer Financial Protection Bureau is irresponsible, CBA says. Many complaints published are inaccurate or have been resolved by financial institutions, CBA says.

7/18/2018

The US Court of Appeals for the 5th Circuit has ruled the single-director structure of the Federal Housing Finance Agency is unconstitutional. This is the third time in recent years a federal court has questioned the single-director structure of a federal agency, with the first two times concerning the Consumer Financial Protection Bureau.

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HousingWire
7/18/2018

Three regulators are expected to address financial technology this month, beginning with a report from the Treasury Department. The Consumer Financial Protection Bureau might create a regulatory sandbox, and the Office of the Comptroller of the Currency might add a special-purpose national bank charter for fintech firms.

7/17/2018

The global economic rebound is starting to show signs of vulnerability as trade tensions increase, says the International Monetary Fund's Global Economic Outlook. The IMF did not change its global forecast, but it cited the declining influence of US tax cuts and weak growth in Japan and Europe as threats to future growth.

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International Monetary Fund