Barclays and PNC Financial Services Group have added loan products this year, while other banks have ended some. Capitol One is leaving the mortgage business, and TCF Financial has ended indirect auto lending.
The Los Angeles City Council has proposed evaluating banks seeking city contracts on not only pricing and services but also "social responsibility." The requirement could preclude contract renewal by Wells Fargo, which held an average daily balance of $94.5 million for L.A. during the last fiscal year.
Professionals should seek input from managers on skills they might need in order to advance their careers next year, writes Martin Yate. Make sure to take advantage of the advice you receive, and check in informally every few months to give updates on your progress.
A handful of current and former staffers of former Senate banking committee Chairman Richard Shelby, R-Ala., have been named to key finance positions. Jelena McWilliams has been nominated chairwoman of the Federal Deposit Insurance Corp., and William Duhnke has been appointed chairman of the Public Company Accounting Oversight Board.
US Trade Representative Robert Lighthizer denounced other members of the World Trade Organization at a ministerial meeting in Argentina for turning to litigation to pursue trade objectives. He said some countries believe they will "gain concessions through lawsuits that they could never get at the negotiating table."
The Securities and Exchange Commission has announced the appointment of lawyer William Duhnke as head of the Public Company Accounting Oversight Board, replacing Jim Doty, who has held the post since 2011. In a long-expected overhaul of the unit, the SEC has also made four new board member appointments.
Speculation persists regarding potential 2018 candidates for the seat being vacated by Sen. Al Franken, D-Minn., with FSR President and CEO Tim Pawlenty's name frequently mentioned. Speaking to Chris Cuomo on CNN's "New Day," Pawlenty said, "Chris, I'm politically retired and if that changes, you'll be among the first to know."
Seventeen state attorneys general have written President Donald Trump to say Mick Mulvaney should be disqualified from acting directorship of the Consumer Financial Protection Bureau based on statements he has made about the agency. "Regardless of the future direction or leadership of the CFPB, we as state attorneys general will vigorously enforce state and federal laws to ensure fairness and deter fraud," according to the letter.