News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Former Fed Official Defends Annual Stress Tests for Big Banks

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The Federal Reserve's former head of financial stability said "stress tests" are critical for assessing banks' risk management and should be preserved as an annual exercise for the largest banks.

World Bank, IMF Are on Guard With the Trump Administration

Leaders of the World Bank and the International Monetary Fund may have this past weekend won the qualified backing of the Trump administration, but their work is hardly done.

Malaysia's 1MDB, Abu Dhabi State Fund Reach Repayment Agreement

State investment fund 1Malaysia Development Bhd. agreed to pay $1.2 billion to settle part of its dispute with Abu Dhabi's sovereign fund, a move that could ease tension between the two funds and avoid arbitration proceedings.

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Wells Fargo Directors Face Uncertain Prospects

Uncertainty hangs over the re-election prospects of several Wells Fargo directors at Tuesday's annual shareholder meeting, according to people familiar with the matter.

Indexing Pivotal in S&P Global's Rebound

Just seven years ago, S&P Global was in the hot seat because of its role in the financial crisis; now, the financial-information firm is emerging as one of the biggest beneficiaries of the rise of passive investing.

Cheaper Mortgages Could Spur Housing Market

Mortgage rates dropped below 4% for the first time since November, providing more kindling to an already hot housing market as the crucial spring selling season gets under way.

How an ETF Gold Rush Rattled Mining Stocks

Unruly trading in the shares of some small gold companies is rekindling investor concern about the pressure that fast-growing passive funds can exert on the stocks they are meant to track.

Meet the Man in Charge of Trump's Review of Wall Street Rules

Craig Phillips, a former BlackRock executive, has emerged as a central figure in President Trump's Treasury Department, helming the administration's plan for financial deregulation and serving as a key point of contact with the financial industry.

Trump Puts Two Dodd-Frank Powers on Hold in Symbolic Move

The Trump administration puts on hold two of its powers under the Dodd-Frank financial overhaul law during a 180-day review.

Wells Fargo Expands Class-Action Settlement to Cases From 2002

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

(END) Dow Jones Newswires

April 24, 2017 11:15 ET (15:15 GMT)