Rule changes proposed by the Securities and Exchange Commission to its whistleblower program are anti-whistleblower and largely reflect views of the US Chamber of Commerce, the National Whistleblower Center said. The group said in a letter to SEC Chairman Jay Clayton there is "a compelling need for full and complete transparency as to why the [SEC] proposed this rule, and what lobbying efforts were behind the proposals."
A low unemployment rate, high consumer confidence and strong economic growth might combine to make it difficult for US retailers to add holiday staffers. Some companies are being proactive by announcing job openings earlier than usual and by offering additional perks.
The Community Financial Services Association of America and the Consumer Service Alliance of Texas say the Consumer Financial Protection Bureau's small-dollar lending rule will wipe out their industry. The groups are asking a federal judge to delay implementation of the rule, which is scheduled to take effect next year.
The latest survey of securities industry compensation by New York State Comptroller Tom DiNapoli found that overall pay at Wall Street firms was up more than 10% last year. In New York City, the combined salary and bonus for people working for broker-dealers averaged $422,500.
JUMO, a South Africa-based financial-technology startup that provides its services through mobile devices, has raised $52 million in a funding round led by Goldman Sachs. CEO Andrew Watkins-Ball says the company will focus on expansion in fast-growing areas of Asia.
Twenty-one Regions Bank locations across nine states have been consolidated as the bank seeks to improve efficiency, a spokeswoman says. The branches were in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Missouri, South Carolina and Tennessee.
Bank of Hawaii is offering low-interest loans and loans with no payment for three months to residents affected by Tropical Storm Olivia. The money can be used for emergency supplies, living essentials or extension of existing loans.
SunTrust Bank says it will refund ATM and overdraft fees imposed while web and mobile systems are down. A normal system upgrade sparked the outage Sunday, a spokeswoman says.
A payment network and a state-owned bank are suggestions from West Virginia Treasurer John Perdue to give marijuana businesses access to banking. A closed-loop network "would probably be the preferable and easier methodology to proceed with," says Diana Stout, general counsel to the treasurer.
Nikki Fried, a Democratic candidate for Florida agriculture commissioner, says she wants to create a state-owned bank to handle marijuana business, while her opponent wants to move the Office of Medical Marijuana Use to the Department of Agriculture and Consumer Services from the Health Department. Republican Matt Caldwell says he supports removing marijuana from a federal drug category that includes cocaine and heroin.