News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

AIG Plans to Name Brian Duperreault as Next CEO

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Insurance giant AIG plans to name Brian Duperreault-a onetime lieutenant to former CEO Maurice R. "Hank" Greenberg-as the firm's chief executive officer, with an announcement expected as soon as Thursday.

GOP Runs Out of Time to Kill CFPB's Prepaid-Card Rule

An attempt by some Republican senators to undo a new federal rule on prepaid cards is expected to fail because it lacks sufficient GOP support.

Aetna to Pull Out of Current Affordable Care Act Exchanges

Aetna Inc. said it would pull out of the Affordable Care Act exchanges in Delaware and Nebraska next year, confirming that the insurer will exit all of the marketplaces where it currently sells plans.

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Barclays to Pay $97 Million to Settle SEC's Allegations of Overbilling

Barclays agreed to pay $97 million to settle claims that its former wealth-management business overcharged thousands of clients on advisory fees and mutual-fund sales charges, the SEC said.

The Secretive Firm Set to Expand in Retail Options: Two Sigma Securities

As the high-speed trading industry endures a wrenching period of consolidation, Two Sigma Securities is looking to come out on top with its deal to buy the global options business of Interactive Brokers Group.

Wells Fargo Probes Client Handling at Chicago Wealth Branch

Wells Fargo is investigating whether three senior executives in Chicago inappropriately steered business toward certain individuals in its private-banking unit.

U.S. Runs $182 Billion Budget Surplus in April

The U.S. ran a budget surplus in April, masking broader trends toward a growing deficit.

Deutsche Bank's Big Shareholder Heavily Financed Its New Stake

Deutsche Bank's new biggest shareholder, Chinese conglomerate HNA Group, used billions in financing-not just its own money-to help buy its nearly 10% stake in the German lender.

GAO Reviews Regulatory Scrutiny of Risks in Some Lending

The Government Accountability Office is reviewing how bank regulators are monitoring heightened risks in the growing concentration of real estate and auto lending, a top official said.

Investors Now Have More than $4 Trillion in Exchange-Traded Products

The amount of money in exchange-traded funds and products topped $4 trillion globally last month, a fresh milestone in the rise of so-called passive investing.

(END) Dow Jones Newswires

May 11, 2017 00:15 ET (04:15 GMT)