Banking
Top stories summarized by our editors
9/21/2018

Wells Fargo CEO Tim Sloan has full support from the board, which is not seeking a replacement, Chairwoman Betsy Duke says. Duke rejects a claim in the New York Post the bank has contacted Gary Cohn about becoming CEO.

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CNBC
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Wells Fargo, Tim Sloan, Gary Cohn
9/20/2018

President Donald Trump is expected to nominate Nellie Liang, an economist with financial-stability experience, to the Federal Reserve Board of Governors. Before becoming a senior fellow at the Brookings Institution, Liang headed a Fed division that worked on financial-stability policy and research.

9/20/2018

The Consumer Financial Protection Bureau will open a satellite office in Atlanta within 15 months as it seeks to cut costs. Some of the agency's analysts and managers who work with southeastern banks will be based in the Atlanta office.

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The Hill
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Mick Mulvaney, CFPB
9/20/2018

PNC Financial will work with blockchain startup Ripple on international payments. The goal is to make payments to US businesses from overseas faster.

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Reuters
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PNC Financial, PNC
9/20/2018

Banks have argued in recent years that student debt is being driven up by federal programs that grant loans without consideration of borrowers' ability to repay. Student loans could be a topic of policy debate if Democrats take control of the House after the November elections.

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Banks
9/20/2018

Hackers injected lines of code on Newegg's payment page and stole credit card data in an attack that ran from Aug. 14 to Tuesday. The company has removed the code and says it is not yet sure how many customers were affected.

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TechCrunch
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Newegg
9/20/2018

Not asking for help when overwhelmed at work greatly increases workplace stress and affects work-life balance, according to a LinkedIn survey. "If you don't ask for help, and you're in an untenable situation, you're going to ultimately find yourself underperforming or finding yourself in a health issue," Stanford lecturer Leah Weiss explains.

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CNBC
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Leah Weiss, LinkedIn, Stanford
9/20/2018

Digital fraud is increasing, but bank customers want convenient, digital options that could put them at risk. Ally Bank meets this challenge by giving customers control over security options, says Anand Talwar, deposits and consumer strategy executive.

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Pymnts
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Ally Bank
9/20/2018

Bank of America and Wells Fargo are among banks offering relief funds for Hurricane Florence victims. Many banks are offering services for those in the hurricane's path, including eliminating ATM and overdraft fees.

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Wells Fargo, Bank of America
9/19/2018

China has responded to US tariffs on $200 billion in Chinese products by imposing retaliatory tariffs on $60 billion in US goods. Both sets of tariffs take effect Monday.