News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Wells Fargo Expands Class-Action Settlement to Cases From 2002

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Wells Fargo expanded a tentative customer agreement, now offering compensation to consumers hurt by the bank's sales practices as early as May 2002.

Visa Posts Stronger-Than-Expected Results but Profit Falls on Charges

Visa Inc. reported profit and revenue increases for the first three months of 2017 that beat Wall Street expectations thanks to robust growth in transactions and the amount cardholders charged.

BOE Would Offer Considerable Stimulus Even if U.K. Rates Rise

The Bank of England would still be providing "considerable" stimulus to the U.K. economy if it were to raise its key interest rate from a record low, a member of its Monetary Policy Committee.

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China Regulator Seeks Clarity on 'Guarantee Chains'

The China Banking Regulatory Commission has asked banks to investigate the relationships between borrowers and guarantors and make clear who is responsible in case of a default.

Banks and Borrowers Are Waiting on Washington

Regional banks are seeing both optimism and angst in the American heartland, reporting that their customers are waiting for clues from Washington before taking action.

He Rides a Decrepit Bike and Owns a French Vineyard: The Unconventional World of Bank CEO Bob Wilmers

Bob Wilmers is CEO of M&T Bank, a Buffalo, N.Y.-based lender that from the outside appears to be just another boring regional bank. That doesn't account for Mr. Wilmers, who owns a vineyard in France's Bordeaux region and rides to work on a decrepit bicycle.

Trump Plans to Issue Three Executive Actions on Taxes, Regulation

President Donald Trump will sign three documents Friday to advance a push to reduce tax and regulatory burdens, including a measure that could roll back Obama administration efforts to prevent U.S. companies from shifting operations overseas to avoid taxes.

Mnuchin Promises 'Significant Changes' in Regulatory Review

The Treasury Department will recommend "significant changes" to financial rules when it issues a report on financial regulatory relief in June, Treasury Secretary Steven Mnuchin said Thursday.

CFPB Sues Mortgage Servicer Ocwen, Alleging Botched Services

Regulators sued Ocwen Financial, alleging the mortgage-servicing firm harmed thousands of customers by botching basic services.

Blackstone Drawing Up Plans for Infrastructure Investments

Blackstone Group LP executives said they are preparing to launch new ventures in infrastructure investing and other areas after the private-equity firm notched a record quarter for sales of older investments.

(END) Dow Jones Newswires

April 21, 2017 11:15 ET (15:15 GMT)