News Highlights: Top Financial Services News of the Day

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Capital One Earnings Fall as Charge-Offs Increase

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Capital One Financial Corp. reported a 20% drop in first-quarter net income from a year earlier as losses jumped for U.S. credit cards and the bank took a bigger provision charge for credit losses.

Wells Fargo Directors Face Shareholders' Ire

Shareholders at scandal-scarred Wells Fargo voted Tuesday to keep all 15 of the bank's directors, but in a stinging rebuke rarely seen in corporate elections did so in some cases by slim margins.

Citigroup Holders Back Executive Pay Plan

Citigroup shareholders cast 95% of their votes at the bank's annual meeting in support of its compensation plan for top executives, following a jump in the stock price and a pay cut for Chief Executive Michael Corbat.

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Credit Suisse Faces Investor Scrutiny With Earnings Report

Credit Suisse is preparing to release first-quarter earnings. The Swiss banking giant has steadied itself somewhat after scaling back its investment banking business in favor of managing money for wealthy clients.

New York Court Dismisses Libel Suit by Highland Capital

A state supreme court judge found comments by one of the asset-management firm's investors to be accurate depictions of a separate lawsuit against Highland.

EU Bank Executives Push Back at Regulators

European bank executives told regulators they were taking too long to complete the postcrisis financial rule book in a shifting political environment, leaving lenders at competitive disadvantage and putting the bloc's economic recovery at risk.

Trump Pick for SEC Chairman Assembling Top Agency Staff

President Donald Trump's choice to run the Securities and Exchange Commission is quietly assembling a cabinet of top staff members who spent their careers on Wall Street or advised companies on big deals, foreshadowing the commission's quick pivot toward a deregulatory agenda.

Japan Post to Take $3.6 Billion Write-Down Over Toll Holdings

Japan Post reported a $3.6 billion write-down for its Toll Holdings unit in Australia, just two years after a $5.1 billion acquisition that was supposed to lay the cornerstone for its overseas expansion.

Chinese Lawmakers Review Plan for Tighter Securities Law

Chinese lawmakers are reviewing amendments to the nation's securities law that aim to rein in illegal activity and give regulators greater enforcement power.

MetLife Asks Court to Delay Ruling on Its 'Systemically Important' Label

MetLife asked an appeals court to delay ruling on a case involving federal oversight of the company pending a review by the Trump administration of the Financial Stability Oversight Council.

(END) Dow Jones Newswires

April 26, 2017 00:15 ET (04:15 GMT)