Banking
Top stories summarized by our editors
12/6/2017

American Express' outgoing CEO, Ken Chenault, says banks should have held on to Mastercard and Visa, rather than cashing out through initial public offerings a decade ago. He also says China's e-commerce payment model is the wave of the future in the US.

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Banks, MasterCard, Visa, AmEx, American Express
12/6/2017

The value of bitcoin has surged above $12,000 to a record high as strong demand from investors continues. The boost might have been influenced by news that bitcoin futures will soon trade on CME Group and Cboe Global Markets platforms.

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Reuters
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Cboe Global Markets, CME Group
12/6/2017

Unexpected developments can disrupt even the best-laid plans for entering retirement, financial planner Robert Laura writes. Rather than yield to frustration, he says, it's important to focus on what you have the power to change, as "research suggests that those who embrace the power of a positive attitude and develop resilience in the face of challenges do better during the transition."

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Forbes
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Robert Laura
12/6/2017

If a co-worker tends to stop by your desk and distract you, tell your colleague you'd like to talk, but you need to finish your current task, advises Richard Moy. If it's a work matter, offer to make time in your schedule to discuss it later.

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The Muse
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Richard Moy
12/6/2017

A challenge to President Donald Trump's appointment of Mick Mulvaney as acting director of the Consumer Financial Protection Bureau will continue in federal court Dec. 22. Deputy Director Leandra English plans to request a preliminary injunction, and the judge has ordered the Justice Department to respond by Dec. 18.

12/6/2017

A lawsuit filed by a federal credit union says Leandra English, deputy director of the Consumer Financial Protection Bureau, should serve as acting director, instead of President Donald Trump's appointee, Mick Mulvaney. The suit from Lower East Side People's Federal Credit Union calls the CFPB leadership battle "regulatory chaos."

12/6/2017

Auto-lending guidance issued in 2013 by the Consumer Financial Protection Bureau is subject to congressional review, the Government Accountability Office says. The guidance aims to prevent discriminatory pricing, but critics say the compliance cost overburdens financial institutions.

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Reuters
12/6/2017

Pittsburgh-based PNC Financial Services Group plans to open "a handful" of branches in the areas of Minneapolis and St. Paul, Minn.; Kansas City, Mo.; and Dallas and Fort Worth, Texas. This is part of an effort to build a national digital bank without making major acquisitions, CEO Bill Demchak says.

12/5/2017

The best way to remember names is to say them aloud, suggests a study published in Memory. Doing so activates motor processing cues that facilitate retention, according to researchers Noah Farrin and Colin MacLeod at the University of Waterloo in Canada.

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Ladders
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University of Waterloo
12/5/2017

Former Consumer Financial Protection Bureau Director Richard Cordray will announce a run for Ohio governor today, an adviser says. Cordray, a Democrat, will face five challengers in the May primary.

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Richard Cordray, CFPB