News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Citi Settles With DOJ Over Money Laundering

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Citigroup has agreed to pay less than $100 million to settle a yearslong money laundering investigation, the bank and government agencies announced Monday.

Only Robots Can Tally What the Largest U.S. Pension Fund Pays in Fees

The nation's largest pension plan has 380 people overseeing $320 billion in assets. But when one of its top officials was asked during a board meeting how much in performance fees was paid to private-equity managers, he had to acknowledge no one knew.

Citigroup to Tap Nasdaq for Blockchain Payment Technology

Citigroup Inc. and Nasdaq Inc. are partnering to match up the blockchain with real money.

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Azerbaijan Bank Creditors Balk at Restructuring Plan -- Letter

A troubled lender from Azerbaijan is shaping up to be a battleground for U.S. and European investors facing big losses on bondholdings.

White House Seeks Delay in Suit Over Health Law Subsidies

The Trump administration requested a 90-day delay in a lawsuit over billions of dollars in federal subsidies under the Affordable Care Act, but insurers say they need more certainty before deciding whether to offer 2018 policies.

Why Bitcoin Is Surging, Again, Up 130% This Year

The price of bitcoin surged over the weekend and into Monday morning as a new wave of speculative investment drove up prices.

One-Month Libor Hits 8-Year High

The cost of one-month U.S. dollar loans between banks has risen to its highest level in more than eight years, reflecting an increasing conviction among traders that the Federal Reserve will raise short-term interest rates at its policy meeting next month.

Federal Reserve Senior Staffer Timothy Clark to Retire

Timothy Clark, a senior Federal Reserve staffer in charge of banking supervision, is retiring in the latest personnel change at the bank regulator.

Here's Why the Fed Will Stay Central to Markets

With the legacy of expansive stimulus, the Federal Reserve would find it difficult to return to its precrisis role on the sidelines of financial markets, analysts and central-bank watchers say.

Bond Buyers Forgive and Forget, Flock Back to Online Lenders' Debt

The initial appeal of upstart, online lenders was that they would disrupt traditional loan markets. But after big setbacks last year, the firms are adjusting to be a little more Wall Street and a little less Silicon Valley.

(END) Dow Jones Newswires

May 22, 2017 16:15 ET (20:15 GMT)