Banking
Top stories summarized by our editors
11/22/2017

Federal Reserve Chair Janet Yellen said it could be "quite dangerous to allow inflation to drift down" and leave the economy trapped below the central bank's 2% target rate. There is evidence that inflation expectations are about to fall, she said.

11/22/2017

The Consumer Financial Protection Bureau has fined Citibank $6.5 million for illegal student-loan practices, including charging late fees and interest on loans eligible for deferment and misinforming borrowers about tax deductions. "We are pleased to resolve this matter," a Citi spokesman said.

11/22/2017

Former Google executive Mike Warriner has been named chief information officer of HSBC's retail-banking and wealth-management digital division. Warriner, who is based in London, is part of the bank's investment in digital channels.

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HSBC, Google, retail banking
11/22/2017

A proposal to raise a regulatory threshold for banks to $250 billion in assets from $50 billion "might go further than appropriate," says Martin Gruenberg, chairman of the Federal Deposit Insurance Corp. The move could endanger the financial system, he says.

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Reuters
11/21/2017

The impending departure of House Financial Services Committee Chairman Jeb Hensarling, R-Texas, and Sen. Bob Corker, R-Tenn., might spur a push to revamp Fannie Mae and Freddie Mac before they leave office, industry observers say. The mortgage giants are expected to run out of capital next year.

11/21/2017

The Senate tax bill includes a provision that would require individual investors to sell their oldest stock in a given name first. Although proponents say it would help simplify the tax code, the first-in-first-out provision could cost investors more than $2 billion in additional capital gains taxes over the next 10 years.

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CNBC, CNBC
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Senate, capital gains
11/21/2017

Investors have put $2 billion-plus to work pursuing strategies to reduce the gender gap in pay and leadership positions, a practice known as "gender lens" investing.

11/21/2017

Roth individual retirement accounts can offer advantages, particularly in tax savings, but they have not been adopted as widely as might have been expected since their inception 20 years ago, retirement planning expert Ed Slott writes. He discusses the possible reasons for this and details the benefits of Roth IRAs.

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Ed Slott
11/21/2017

Most companies are unprepared for the EU's General Data Protection Regulation, despite the risk of heavy fines for noncompliance, a survey indicates. Regulators say the protections are "the most important change in data privacy regulation in 20 years."

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EU
11/21/2017

Advisers are offering suggestions and strategies to help people who want to gain enough financial independence to retire early. Diligently saving throughout one's working life is clearly important, but estimating how long funds will need to last and investing them wisely will also help achieve that goal.

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CBS News