Banking
Top stories summarized by our editors
4/18/2018

The Senate has opened debate on a Consumer Financial Protection Bureau rule that penalizes automobile dealers who add markups to third-party loans, and a vote on whether to repeal the rule is expected today. The CFPB issued the rule in 2013 in an effort to curb discriminatory lending.

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The Hill, Reuters
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Senate, CFPB
4/18/2018

Community banks are finding ways to expand their customer bases without opening new branches. Colorado's Alpine Bank and Florida's Surety Bank are using technology that allows customers to open accounts entirely online.

4/18/2018

First US Bancshares in Alabama has agreed to purchase The Peoples Bank in Virginia. The deal is expected to close in the third quarter and is part of First US Bancshares' plan to expand in the Southeast.

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Al.
4/18/2018

Leaders should be able to show humility and be open to advice from others when unexpected changes occur at work, writes Cassandra Frangos. Ensure you understand an organizational shift fully, and acknowledge the potential effect on staffers.

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Forbes
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Cassandra Frangos
4/17/2018

Developing interpersonal communication skills and other personal attributes is vital in becoming an effective leader, Reva Seth writes. Learn to occasionally "turn off your mind" to build resilience, and work on shifting your work style from reactionary to proactive.

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Fast Company online
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Reva Seth
4/17/2018

The Federal Reserve Board's Community Advisory Council, which helps the Fed collect feedback on policy matters, is seeking replacements for six members whose terms expire at the end of 2018. The Fed is accepting applications until June 15 from professionals in financial services, asset and wealth building, housing and mortgage finance, and financial technology.

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Fed, Federal Reserve Board
4/17/2018

Timothy Scheve, a critic of the Department of Labor's fiduciary rule, has been chosen by the Financial Industry Regulatory Authority to fill a board position left vacant by John Thiel, who stepped down this year. FINRA CEO Robert Cook said the board would benefit from Scheve's industry insight as it aims to protect market integrity.

4/17/2018

The Retirement Enhancement and Savings Act would eliminate one of the obstacles to including annuities in retirement plans. The bill would also simplify the process of transferring plan assets to individual retirement accounts.

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Congress
4/17/2018

The Federal Reserve and the Federal Deposit Insurance Corp. have not joined an effort by the Office of the Comptroller of the Currency to improve the Community Reinvestment Act. Officials from all three agencies expressed commitment during the CBA annual conference to follow the matter closely.

4/17/2018

The Consumer Financial Protection Bureau experienced 233 confirmed breaches of personally identifiable information before November, a spokesperson says. An additional 840 breaches might have happened when financial companies used the bureau's portal.

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CyberScoop