Banking
Top stories summarized by our editors
2/19/2018

First Horizon National has increased hourly minimum wage to $15 as a result of savings from the tax law. The bank gave $1,000 bonuses to 70% of workers at the end of last year.

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Horizon National Corp.
2/19/2018

The finance sector experienced 471 security breaches in 2016, more than any other industry, according to a report from the Council of Economic Advisers. Cyberattacks cost the economy $57 billion to $109 billion that year, the report says.

2/19/2018

David Evans, president and CEO of machining company TESSEC, and Jenell Ross, president of Bob Ross Auto Group, have been named board directors of the Cincinnati branch of the Federal Reserve Bank of Cleveland.

2/19/2018

Liberty Bank President and CEO Chandler Howard has been named a Class A board director of the Federal Reserve Bank of Boston.

2/16/2018

The Virginia House and Senate have passed bills that would create an ombudsman to help consumers with student-loan problems and would establish a borrower's bill of rights. More than 1 million residents owed student loans worth more than $30 billion last year, state officials say.

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The Associated Press
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Virginia House, Senate
2/16/2018

Being given a stretch assignment from your manager is an opportunity to advance your skills, says Mikaela Kiner, founder and CEO with uniquelyHR. "The assignment should help you do one or more of the following: Build new skills, increase your visibility, try out a new discipline or geography or gain an experience like managing people that you haven't had before," she says.

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Glassdoor
2/16/2018

Congress should require all companies "to protect sensitive personal and financial data with a strong but flexible, scalable data security framework," FSR'S vice president of government affairs for payments, Jason Kratovil, wrote in a letter to the House Subcommittee on Financial Institutions and Consumer Credit. Noting that certain sectors already operate under data security requirements, he continued, "No reasonable person would conclude that the status quo lack of federal requirements that all other companies should protect sensitive data and be required to notify consumers of a breach is acceptable in today's data-intensive economy."

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Compliance Week
2/16/2018

Recent studies that seek to define the ideal retirement age have come to different conclusions, with one finding that people who took early retirement were less likely to die in the subsequent few years, while another suggested that early retirement might increase the mortality rate for men. Physicians note that working longer can bring health benefits, including mental stimulation and social interaction.

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Next Avenue
2/16/2018

The Consumer Financial Protection Bureau's rule on small-dollar lending is based on flawed research and should be rescinded, writes Rep. Dennis Ross, R-Fla., a member of the House Financial Services Committee. Ross has introduced a bill to overturn the rule by using the Congressional Review Act.

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Morning Consult
2/16/2018

Only 14% of Americans had internet access when the Community Reinvestment Act was last revised in 1995, and reform should address the needs of 21st-century consumers, writes Steven Zeisel, executive vice president and general counsel of CBA. Regulators must look at banks' digital banking efforts, as well as physical locations and branches, he writes.