The rising generations — the tail end of the millennials, and behind them Generation Z — have been shaped by remarkable advances in digital consumer technology, ubiquitous cellphone data and Wi-Fi, and major financial dislocation followed by nearly a decade of sluggish economic growth. ABA President and CEO Rob Nichols explains why banks should be optimistic about serving this customer base. (American Banker)

In its annual report and during its public session yesterday, the Financial Stability Oversight Council trained scrutiny on the potential risks posed by the growing use of new financial products and delivery mechanisms, including marketplace lending and distributed ledger or blockchain technology. (U.S. Department of the Treasury)

Nearly three-quarters of people who are repaying student loans say their debt is hindering them from buying a home, according to a survey released Monday. Although a college degree significantly enhances a person’s chances of gaining stable employment and earning enough for a down payment, the survey found that many would-be homeowners are increasingly burdened by student debt. (Washington Post)

Banks offer free airline tickets, hotel stays, and shopping discounts through their rewards programs. And earning up to 1.5 percent cash back on purchases is a standard perk of credit card companies. Now, one Boston-area bank is offering a debit card that takes 1 percent of all purchases and directs it toward paying down college debt, rather than bankrolling a vacation. (Boston Globe)

The nation's top banks passed the Federal Reserve's stringent stress testing Thursday, showing just how much stronger they've gotten since the financial crisis. (USA Today)

Thomas Donohue, president and CEO of the U.S. Chamber of Commerce, today issued a full-throated defense of the banking industry and its role in helping American businesses grow. In a speech at the Nasdaq Stock Market in New York, Donohue called for Congress and regulators to lighten the regulatory burden on banks of all sizes that he said has limited financing for all kinds of companies and stymied growth. "Don’t forget that Wall Street and Main Street are inextricably linked," he said. "They depend on each other." (ABA Banking Journal)

The state bankers associations wrote to federal regulators and the Appraisal Qualifications Board today urging action to address a critical shortage of qualified appraisers in rural areas by reforming the criteria necessary to become qualified. A combination of retirements among appraisers, declining young populations in rural areas and the lengthy appraiser training process has resulted in a crunch. (ABA Banking Journal)

Comptroller of the Currency Thomas Curry reaffirmed his agency’s commitment to promoting responsible innovation within the financial industry in a speech at the OCC’s Responsible Innovation Forum today in Washington. Curry said that innovation that helps better meet the needs of consumers — whether by banks, fintech firms or partnerships between the two — strengthens the industry as a whole. (ABA Banking Journal)

The American Bankers Association today wrote to the House Small Business Committee urging Congress to block the Department of Labor’s final overtime rule from taking effect. The rule — which increased the salary level used to determine whether employees are exempt from overtime pay under the Fair Labor Standards Act from $23,660 to $47,476 — is set to take effect on Dec. 1. (ABA Banking Journal)