How can community banks make wealth management a profitable part of their strategy? At Canandaigua National Bank and Trust in New York, 45% of non-interest income—and 15% of the bank’s total revenue—comes from wealth management, says EVP Sam Guerreri. (ABA Banking Journal)

Consumers aged 60 and older lost nearly $400 million to fraud in 2018, according to a new report submitted to Congress by the Federal Trade Commission. The report, Protecting Older Consumers 2018-2019, details the FTC’s efforts to protect older consumers from fraud through research, law enforcement and education. (ABA Banking Journal)

Facebook’s ambitious plan to create a cryptocurrency that would replace traditional money all over the world appears to be on life support. Regulators and lawmakers have mocked it. Key partners like Visa and Mastercard have stepped away from it. But the company isn’t backing down. (New York Times)

From simplified 10-step online account openings, to value-added robo-advising, to “certified digital bankers,” OceanFirst Bank delivers a new community banking experience. (ABA Banking Journal)

Capital One released the results of a new CreditWise survey, in connection with the October 17 National Get Smart About Credit Day. The results found that finances are the number-one cause of stress for those surveyed (73%)—more than politics (59%), work (49%) and family (46%). (CNBC)

In a San Francisco Chronicle op-ed this week, ABA President and CEO Rob Nichols warned that California’s municipalities should avoid chartering new public banks under recently enacted state law A.B. 857. (ABA Banking Journal)

The Government Accountability Office this week found that the two of the Federal Reserve’s guidance documents on large bank supervision—which were issued in 2012 and 2014 by the Fed’s Large Institution Supervision Coordinating Committee—are considered rules for the purposes of the Congressional Review Act. (ABA Banking Journal)

The House voted to pass the ABA-backed Corporate Transparency Act (H.R. 2513). The legislation, sponsored by Rep. Carolyn Maloney (D-N.Y.), would direct the Financial Crimes Enforcement Network to create a national database that banks could use to verify a business’s beneficial ownership information. (ABA Banking Journal)

The ABA Health Savings Account Council has written to House Ways and Means Committee leaders urging them to support H.R. 3708, the Primary Care Enhancement Act. (ABA Banking Journal)

A federal judge in New York yesterday blocked the OCC from issuing charters to non-depository special-purpose national banks, as the agency first proposed to do in 2016. (ABA Banking Journal)

As policymakers pursue housing finance reform, ABA President and CEO Rob Nichols joined the heads of four housing trade associations in calling for “thoughtful and balanced” changes. (ABA Banking Journal)