Banking
Top stories summarized by our editors
6/20/2018

People in their 50s might wish to step up retirement savings to ensure they achieve their preferred lifestyle when they leave the workforce. Here are several ways to bolster savings, starting with taking advantage of catch-up contributions for retirement accounts.

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CNBC
6/20/2018

U.S. Bank, Capital One and American Express allow customers to conduct limited banking services using smart speakers, but there are security concerns. A customer's voice could be manipulated, and criminals may be able to access accounts remotely, said Kurt Baumgartner, a security researcher with Kaspersky Lab.

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The Associated Press
6/20/2018

A bill approved by the California State Assembly and now headed to a state Senate committee would limit borrowers to one small-dollar loan at a time. Currently, borrowers can take out one loan per small-dollar lender.

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California Assembly
6/20/2018

Sen. Elizabeth Warren, D-Mass., says she will fight Kathy Kraninger's nomination to be director of the Consumer Financial Protection Bureau until Kraninger explains her role in the Trump administration's "zero tolerance" policy relating to immigration. Warren and Sen. Sherrod Brown, D-Ohio, have requested that Kraninger provide a written explanation.

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The Hill
6/20/2018

Bank of America is offering online courses to its employees to prepare them for the impact of changing technology. Cathy Bessant, chief operations and technology officer, says she doesn't expect a significant decline in the number of jobs in her division, but she does expect that the duties will change.

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Cathy Bessant, BofA
6/20/2018

Kathy Kraninger, President Donald Trump's nominee to lead the Consumer Financial Protection Bureau, has experience in how bureaucracies work and can continue acting Director Mick Mulvaney's changes, writes the editorial board of The Wall Street Journal. Sen. Elizabeth Warren, D-Mass., might try to block Kraninger's confirmation, the board writes, and Senate Republicans should move on the nomination.

6/20/2018

People's United Financial in Connecticut has agreed to purchase First Connecticut Bancorp, parent of Farmington Bank, for $544 million in stock. The deal, subject to regulatory approval, could result in branch closures and layoffs.

6/20/2018

An interagency group is being created to update anti-money-laundering rules, Comptroller of the Currency Joseph Otting says. Regulators have submitted 14 recommendations to the Financial Crimes Enforcement Network at the Treasury Department, Otting says, and one requires congressional action.

6/20/2018

Look at the bigger picture inside and outside your workplace, such as by keeping up with market trends and by observing how your organization's departments run, leadership consultant Valerie Grubb says. Keep your eye out for opportunities, have a long-term mindset and spend time on projects that deliver valuable results.

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Valerie Grubb
6/19/2018

The nomination of Kathy Kraninger as director of the Consumer Financial Protection Bureau could be a strategic move to keep Mick Mulvaney in the top spot, observers say. Nominating a candidate triggers a provision that allows the interim person to remain in the post until the nominee is approved or rejected, and some experts say Democrats will likely defer Kraninger's approval, giving Mulvaney more time to lead the agency.