Higher credit card use drives up US consumer borrowing | Bank profits increase but so does bad debt | US banks dominate global financial system
September 11, 2019
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Risk Management and Insurance
Higher credit card use drives up US consumer borrowing
US consumers added $23.3 billion to borrowing in July, the largest monthly increase since November 2017, according to the Federal Reserve. The biggest factor was credit card borrowing, which increased $10 billion.
The Associated Press (9/9) 
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Bank profits increase but so does bad debt
The US banking sector reported $62.6 billion in profits during the second quarter of 2019, an increase of 4.1% from 2018 and a new record, according to numbers released from the Federal Deposit Insurance Corp. Bad debts also increased with banks writing off $12.8 billion more than a year ago.
Reuters (9/5),  Politico Pro (subscription required) (9/5) 
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Cybersecurity
Consumers still falling short on identity theft protection
Some consumers are still not taking precautions to protect themselves from identity theft, according to a CompareCards survey. Only 9% of consumers say they have frozen their credit, and many haven't reviewed their credit reports.
CNBC (9/6) 
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Government Regulation
Fed's Quarles proposes revisions to stress capital buffer rule
Regulations that require banks to have a stress leverage buffer and prepay a year's worth of dividends should be removed, Randal Quarles, head of supervision at the Federal Reserve, said in prepared remarks. Quarles is proposing other options, one that would require banks to keep more capital during economic downturns and another that would raise the amount of minimum capital a bank needs after annual stress tests.
Reuters (9/5) 
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Innovation
JPMorgan's new index measures effect of Trump's tweets on interest rates
The "Volfefe Index" created by JPMorgan Chase will measure the effect of President Donald Trump's tweets on the financial market, particularly interest rates. "This makes rough sense as much of the president's tweets have been focused on the Federal Reserve, and as trade tensions are broadly seen as, first and foremost, impactful on near-term economic performance and, likewise, the Fed's reaction to such developments," JPMorgan officials said in a report.
CNBC (9/9) 
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News from Aon
The benefits of better data: Reducing costs while improving employee health
While the health care landscape looks different around the world, every organization faces consistent challenges: rising health care costs for individuals and employers as well as ever-increasing chronic health conditions. Business leaders must balance controlling costs and encouraging their workforce to live healthier lives. Read more.
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2019 hurricane season: Be prepared
As we enter the peak of the 2019 Atlantic Basin hurricane season, a significant number of large-scale natural catastrophes affecting businesses, governments and populations have already transpired globally, recently including Hurricane Dorian. Aon's Be Prepared site is a resource-rich repository of pre- and post-loss materials to help build a more loss-resilient organization. Learn more.
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The oldest, shortest words -- "yes" and "no" -- are those which require the most thought.
Pythagoras,
ancient Greek philosopher, mathematician
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About Aon Financial Institutions
The Aon Financial Institutions Practice develops risk transfer and consulting solutions for a wide range of businesses including banks, insurance companies, asset managers and diversified investment and finance firms. Our experts draw on deep experience in developing products involving management and professional liability, property and casualty, cyber, operational and enterprise risk management, environmental liability, employee benefits, and transactional solutions. These solutions help clients build a tailored risk management program that empowers results for their organizations.

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Aon Financial Institutions
Jacqueline Quintal | Managing Director
Financial Institutions Practice Leader
t. 212.441.2339
jacqueline.quintal@aon.com
www.aon.com

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Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
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