A class-action lawsuit involving 7,500 financial institutions against Wendy's has been tentatively settled for $50 million. The lawsuit involved data breaches that affected about 18 million customers who used debit or credit cards at the quickservice chain.
Oversight of banks' cybersecurity efforts is among the Federal Deposit Insurance Corp.'s top challenges, a report from the agency's inspector general says. Other significant challenges involve adapting to innovation and strengthening the agency's own information security management.
Sen. Sherrod Brown, D-Ohio, has developed a relationship with the banking industry that could be a factor in a potential run for president. Brown has expressed support for breaking up large banks but opposes a plan to revive the Glass-Steagall Act.
Citizens Financial Group has agreed to acquire Bowstring Advisors, an Atlanta advisory firm for mergers and acquisitions. The purchase is Citizens' fourth since September 2014 and is expected to close in the first half of this year.
Workers with student-loan debt could benefit from legislation in Congress intended to encourage employers to help with debt repayments. Under the proposal, companies could contribute up to $5,250 each year, tax-free, toward payments on employees' student loans.
People should avoid the misconception that a job search during record unemployment is going to be easy, because that sets them up for disappointment, writes J.T. O'Donnell, CEO of WorkItDaily.com. Improve your chances and your mindset by surrounding yourself with positive people and staying current with networking and interview best practices.
The Natural Gas Supply Association and the National Corn Growers Association object to a standard proposed by banking regulators that would raise the cost of commodity derivatives transactions used to hedge risk. The groups say the change would effectively make the marketplace off-limits for many small banks and commercial end users.
Federal Reserve Bank of San Francisco President Mary Daly says there is a possibility that no interest-rate increases will be imposed in 2019, as long as the economy progresses as expected. Her comments echo remarks made last month by Fed Chairman Jerome Powell, who said "the case for raising rates has weakened somewhat."
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