Banking
Top stories summarized by our editors
1/19/2018

Jonathan Dever, a defense attorney and Ohio state representative, has emerged as a possible pick to head the Consumer Financial Protection Bureau. Dever specializes in mortgage regulations and foreclosure defense.

1/19/2018

The Consumer Financial Protection Bureau on Thursday asked a federal judge in Kansas to drop a lawsuit the bureau filed last year against four online payday lenders. The bureau said it would continue to investigate claims against the businesses, which are owned by the Habematolel Pomo of Upper Lake tribe and are accused of charging up to 950% interest on loans.

1/19/2018

Hold on to your values instead of trying to keep up with trends to be a youthful and inspiring leader, writes Margy Kerr-Jarrett. Stay true to yourself and embrace challenges.

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Lead Change
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Margy
1/19/2018

Acting Consumer Financial Protection Bureau Director Mick Mulvaney has asked the Federal Reserve for no money to fund the bureau this quarter and plans to use a $177.1 million reserve fund. This comes one day after the bureau announced a review of and a call for public feedback on operations, for which CBA President and CEO Richard Hunt has expressed support.

1/19/2018

A bill to change the definition of a systemically important financial institution has less than a 50% chance of getting through Congress before midterm elections, says Mark Calabria, chief economist for Vice President Mike Pence. Lawmakers are focusing on other initiatives first, Calabria says.

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Pymnts
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Mark Calabria, Mike Pence, Congress
1/19/2018

A report from the Office of the Comptroller of the Currency says lenders might be becoming complacent because of the positive macroeconomic environment and warns bankers to uphold underwriting standards and to control risk. "In this environment, lenders need to focus on maintaining sound credit standards within risk tolerances and understanding the potential credit risks that may be exposed under less benign economic conditions," the report says.

1/18/2018

Motivate yourself to get started on a daunting project by tackling a small task with a low threshold for completion, Lila MacLellan writes. Keep in mind that the impulse to wait until you're "in the mood" may be a coping mechanism for a fear of failure.

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Quartz
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Lila MacLellan
1/18/2018

Cyberattacks are one of the world's biggest risks, falling only behind extreme weather and natural disasters, says a report by the World Economic Forum. The report says more needs to be done to protect organizations and society from attacks on critical infrastructure.

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ZDNet
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World Economic Forum
1/18/2018

Chief data officers in the US are moving beyond simply meeting compliance goals and are using data to drive efficiencies. European companies have been slower to embrace the CDO role.

1/18/2018

The Office of the Comptroller of the Currency has not enacted changes recommended in an April report, and seven Senate Democrats want the OCC to submit a plan by the end of the month. The recommendations include being more thorough when processing complaints about banks.

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Senate Democrats, OCC, Joseph Otting