Banking
Top stories summarized by our editors
7/17/2018

Performance reviews can be nerve-wracking for leaders, especially when constructive criticism is required, Gerry Valentine writes. It's best to offer examples of specific, recent situations when making corrective feedback, he argues.

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Forbes
7/17/2018

The Financial Stability Board called for "vigilant monitoring" of cryptoassets because of the speed at which developments in the asset class are emerging and the fact that there are "gaps" in data about them. So far, cryptoassets don't present a significant threat to global financial stability, the FSB said.

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Financial Stability Board
7/17/2018

Out-of-pocket health care costs in retirement can total about $4,300 a year for the average retiree, according to the Center for Retirement Research at Boston College. These expenses may include Medicare and Medigap premiums, and health care costs are expected to rise.

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Forbes
7/17/2018

Bank of America saw a 6.6% increase in consumer lending in the second quarter compared with the year-earlier period. Consumer lending rose about 2.5% at Citigroup and JPMorgan Chase, while Wells Fargo and PNC Financial saw declines.

7/17/2018

Twenty-five Senate Democrats have sent a letter to Consumer Financial Protection Bureau acting Director Mick Mulvaney asking him to reinstate the Consumer Advisory Board, saying the board is a requirement of the Dodd-Frank Act. The board was dismantled by Mulvaney last month.

7/17/2018

Bank of America customers now make more deposits using mobile devices than in branches, the bank says. The number of mobile users has also increased, while the number of branches has decreased.

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BofA
7/17/2018

Citi is debuting a service that will give corporate customers real-time information about their transactions. The service, Citi Payment Insights, is launching in 50 markets.

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Pymnts
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Citi
7/17/2018

Federal Reserve Chairman Jerome Powell will likely field questions about trade issues and financial regulations when he appears before the Senate banking committee and the House Financial Services Committee this week. Other issues include unemployment numbers and inflation.

7/16/2018

The harder a problem is to solve, the more it helps to take an experimental approach to solving it, writes Adam Kahane. Leaders need to allow teams to run tests without expecting to find solutions on the first try, he writes.

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Adam Kahane
7/16/2018

Federal Reserve Bank of Dallas President Robert Kaplan has warned of consequences of trade disputes and tariffs, saying they could prompt him to downgrade forecasts for US economic performance. Kaplan acknowledges trade policy is not part of the central bank's mandate but says "I'm not doing my job if we don't call out this trade analysis."

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Reuters