News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Goldman Makes Biggest Investment Bank Leadership Changes in Decade

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Goldman Sachs is making the biggest changes in a decade to the leaders atop its investment-banking division, which advises companies on mergers and capital raises.

Banks Want Mnuchin to Intervene in Fight Over New Loan Rule

Banks are trying to enlist the Trump administration to fight a new accounting rule requiring them to book losses on soured loans more quickly, potentially setting the stage for a clash between the Treasury Department and the SEC.

On Deck Capital to Focus on Turning a Profit

On Deck Capital Inc. said Monday it is throttling back its growth plans and cutting more jobs as the lender tries to post profits in the second half of 2017.

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Renaissance Dissident Sues Robert Mercer for Wrongful Discharge

Former Renaissance Technologies executive David Magerman has sued the hedge fund's co-chief executive officer Robert Mercer for wrongful discharge.

Bank of America Pays Peanuts for Deposits, but the Money Keeps Flowing In

Even after the Fed raised rates, BofA has continued to pay depositors next to nothing. Its ability to do so and not lose business highlights the built-in advantages of big banks and changing consumer attitudes.

Buffett Isn't Retiring but Some of His Lieutenants Are

Warren Buffett is quietly installing a new set of leaders throughout Berkshire Hathaway.

For Crowdfunding Investors, A Way to Sell

One of Europe's largest crowd-funding platforms has set up secondary market on which investors can trade stakes.

Why Macron's Win Is Good for Europe's Worst-Off Banks

Emmanuel Macron's victory as French president should be good news for all European banks, not just those in France, but Greek and Italian ones too.

China Bank Regulator Pushes to Strengthen Loan-Collateral Checks

China's banking regulator is pushing banks to strengthen checks on collateral for loans, the latest in a series of moves by authorities to improve the transparency of lending practices.

China Insurance Watchdog Intends to Strengthen Oversight

China's insurance watchdog vowed to tighten regulations and reduce loopholes, part of Beijing's effort to strengthen supervision of the industry amid growing concerns over lax oversight.

(END) Dow Jones Newswires

May 08, 2017 16:15 ET (20:15 GMT)