News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

U.S. Rate Increases Have Smaller Impact on China's Capital Flows

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U.S. interest-rate increases are having a smaller impact on China's capital flows than before, the country's foreign-exchange regulator said.

Volcker Open to Tweaking Dodd-Frank, but Not the Volcker Rule

Former Federal Reserve Chairman Paul Volcker, known as a champion of postcrisis financial rules, said Wednesday he was open to making some changes to the Dodd-Frank regulatory-overhaul law-but not his namesake rule.

Hearing on GOP Plan to Overhaul Dodd-Frank, CFPB Set for Next Week

The Republicans' blueprint for revamping the 2010 Dodd-Frank Act and the Consumer Financial Protection Bureau is set for a hearing next week, kicking off what is likely to be a fierce debate over loosening regulations for Wall Street.

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Ousted Arconic CEO Sent Vague Threat to Hedge-Fund Boss

The letter that cost Klaus Kleinfeld his job as chief executive of aerospace-parts maker Arconic Inc. contained a vague threat toward the billionaire whose hedge fund had been campaigning for Mr. Kleinfeld's ouster.

Galleon Bankruptcy Trustee Targets Rajaratnam Payments

The official who is winding down a former Galleon Group investment management company is suing founder Raj Rajaratnam and two former executives to claw back what he says were inflated salaries and fees.

Brazil Police Probing Purchase of Banco Panamericano

Brazil's Federal Police on Wednesday launched an investigation into the purchase of shares by state-owned Caixa Participações SA of a troubled local lender that was later sold to Brazilian investment bank BTG Pactual,

American Express Results Decline Less Than Expected

American Express posted lower earnings and revenue in the first quarter of the year, hurt by the loss of its relationship with warehouse-club retailer Costco Wholesale, though card member spending climbed.

Bank Regulator Rips Its Own Supervision of Wells Fargo Sales Practices

A national bank regulator blamed itself for failing to catch questionable sales practices at Wells Fargo for years before a national scandal last fall.

Fifth Street Asset Management to Explore Sale

Specialty lender Fifth Street Asset Management is exploring a sale amid a deterioration in its loan portfolio and management turnover.

Activist Investor Seeks to Replace CEO, Director at Taubman Centers

Activist investor Jonathan Litt's hedge fund called for mall operator Taubman Centers to replace its CEO and lead director on the company's board at Taubman's annual meeting later this year.

(END) Dow Jones Newswires

April 20, 2017 00:15 ET (04:15 GMT)