A majority of employees surveyed by Transamerica say they plan to work part-time in retirement, but their expectations may not square with a reality that includes employers who refuse to offer such work. Employees can improve their chances by staying sharp at their work, maintaining their health and networking to expand their work options.
House Republicans want a Senate bill on the Dodd-Frank Act to include more changes to the Consumer Financial Protection Bureau. The House Financial CHOICE Act, passed in June, proposes sweeping changes to the CFPB, while the bipartisan Senate bill contains no structural changes.
Barclays and PNC Financial Services Group have added loan products this year, while other banks have ended some. Capitol One is leaving the mortgage business, and TCF Financial has ended indirect auto lending.
The Los Angeles City Council has proposed evaluating banks seeking city contracts on not only pricing and services but also "social responsibility." The requirement could preclude contract renewal by Wells Fargo, which held an average daily balance of $94.5 million for L.A. during the last fiscal year.
Professionals should seek input from managers on skills they might need in order to advance their careers next year, writes Martin Yate. Make sure to take advantage of the advice you receive, and check in informally every few months to give updates on your progress.
A handful of current and former staffers of former Senate banking committee Chairman Richard Shelby, R-Ala., have been named to key finance positions. Jelena McWilliams has been nominated chairwoman of the Federal Deposit Insurance Corp., and William Duhnke has been appointed chairman of the Public Company Accounting Oversight Board.
US Trade Representative Robert Lighthizer denounced other members of the World Trade Organization at a ministerial meeting in Argentina for turning to litigation to pursue trade objectives. He said some countries believe they will "gain concessions through lawsuits that they could never get at the negotiating table."
The Securities and Exchange Commission has announced the appointment of lawyer William Duhnke as head of the Public Company Accounting Oversight Board, replacing Jim Doty, who has held the post since 2011. In a long-expected overhaul of the unit, the SEC has also made four new board member appointments.
Speculation persists regarding potential 2018 candidates for the seat being vacated by Sen. Al Franken, D-Minn., with FSR President and CEO Tim Pawlenty's name frequently mentioned. Speaking to Chris Cuomo on CNN's "New Day," Pawlenty said, "Chris, I'm politically retired and if that changes, you'll be among the first to know."
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