Consultants, employees helped decide "Truist" name | Goldman will cover some expenses of Marcus consumers in arbitration | More than 600 firms appeal to Trump to rethink China tariffs
June 14, 2019
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Bankers: Trade, interest rates are worrisome for corporate borrowers
Concerns about trade disputes and interest rates have made corporate borrowers hesitant, bankers at a Morgan Stanley conference said. Commercial loan growth has not weakened but the comments "suggest future pressure on loan growth," wrote Morgan Stanley analyst Ken Zerbe.
Bloomberg (tiered subscription model) (6/13) 
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Retail Banking Roundup
Consultants, employees helped decide "Truist" name
BB&T and SunTrust hired consultant Interbrand and asked employees for help renaming the merged bank, with "Truist" emerging from thousands of choices, BB&T executive Donta Wilson said. The combined bank still must decide on a logo and stock-ticker name.
The Charlotte Observer (N.C.) (tiered subscription model) (6/13),  The Wall Street Journal (tiered subscription model) (6/13) 
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Goldman will cover some expenses of Marcus consumers in arbitration
Consumers who choose arbitration over court to settle grievances with Goldman Sachs' Marcus could have some of their expenses covered, bank officials said. The changes are intended to benefit consumers with small-dollar disputes, and they can decline arbitration altogether, Goldman officials said.
American Banker online (free content) (6/13) 
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Industry News
More than 600 firms appeal to Trump to rethink China tariffs
More than 600 companies and associations, including retailers such as Walmart and Macy's, have written President Donald Trump to appeal for an end to tariffs on China and for a return to negotiations. Meanwhile, growth of Chinese industrial output has reached a 17-year low.
Bloomberg (tiered subscription model) (6/13),  Reuters (6/14) 
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British banking app Monzo planning US launch
Monzo, which has over 2 million customers in the UK, said it is planning to bring its product to the US market. Challenges will include differences in regulations and competition from Venmo, SoFi and banks.
CNN (6/13) 
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Regulatory Report
Fed's Brainard is often the only "no" vote
Federal Reserve Gov. Lael Brainard has frequently been the only board member to vote "no" on plans that would ease regulations on banks. Brainard was appointed by former President Barack Obama in 2104 and has expressed concerns that dereglation efforts "may be whittling away at that core resilience of our financial system."
U.S. News & World Report (6/14) 
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Legislative Affairs
Warren plan would reduce debt for 95% of student-loan borrowers
Student-loan borrowers whose households make less than $100,000 a year would have $50,000 of their debt erased and households making up to $250,000 would also see relief under a plan proposed by Sen. Elizabeth Warren, D-Mass. A Warren-commissioned analysis said three out of every four borrowers would have their loans paid off if the $640 billion-dollar plan became law.
The Hill (6/13) 
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Career Development
Why "I don't know" is sometimes the smartest answer
You'll go further at work by rejecting the idea you have to provide all the answers, says former Microsoft executive Stefan Weitz. Admitting you don't know something encourages others to speak up, improving your ability to troubleshoot and resulting in more effective solutions.
Money magazine (6/4) 
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[We] thought that once we'd climbed the mountain, it was unlikely anyone would ever make another attempt.
Sir Edmund Hillary,
mountaineer who, with Sherpa Tenzing Norgay, was the first climber to reach Mount Everest's summit
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