News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

'Fiduciary' Rule to Take Effect June 9 With No Further Delay, Labor Secretary Says

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The retirement-savings regulation known as the fiduciary rule will take effect June 9 without further delay, Labor Department Secretary Alexander Acosta said Monday.

Fed's Evans: Large Clearing Firms Need Access to Central-Bank Safety Net

Chicago Fed President Charles Evans said it is important for large financial-market clearing firms to have access to the safety net that central banks can provide.

'Still a Question Mark' Around Full Employment, Fed's Brainard Says

It's too soon to declare victory on the labor market's recovery from the recession despite recent improvements, Federal Reserve governor Lael Brainard said Monday.

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Citi Settles With DOJ Over Money Laundering

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

Citigroup to Tap Nasdaq for Blockchain Payment Technology

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

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.

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.

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.

(END) Dow Jones Newswires

May 23, 2017 07:15 ET (11:15 GMT)