BB&T, based in Winston-Salem, N.C., has added a divisional corporate banking team in Chicago to help raise awareness in the market outside of the insurance and mortgage segments. "We believe that BB&T's relationship-based, values-driven approach along with a strong balance sheet will resonate solidly with clients in the Midwest," Chairman and CEO Kelly King said.
Class of 2011 college graduates have student-loan debt equivalent to about 60% of their average annual income, according to a report from Congress' Joint Economic Committee. The report says two-thirds of that class of graduates have student debt. It also cites the recent increase in total student-loan debt, which jumped from $550 billion at the beginning of the recession to $1 trillion this year.
Implementation of the Dodd-Frank Act has taken time because of complexities, but several final rules could be released in the coming months, with "a more rapid completion going forward over the next few quarters," Federal Reserve Chairman Ben Bernanke said Wednesday. Basel III capital requirements, the Volcker rule on proprietary trading and the definition of qualified residential mortgages remain incomplete nearly three years after Dodd-Frank was signed into law.
U.S. officials are considering bringing charges against officials from countries where hackers steal U.S. commercial and government information. It's seen as a way to raise the potential cost of attacks.