News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

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A Crucial Fed Meeting for Financials

There is little doubt the Fed will raise rates, which will help many of the big banks. The more important news will be what it says about shrinking its balance sheet, likely later this year.

Fed Finds Foe in Financial Markets

The Federal Reserve's interest-rate increases aren't having the desired effect of cooling off Wall Street's hot streak. While Fed officials this week will likely decide to raise rates for a fourth time since December 2015, much of that tightening effort has yet to be felt in financial markets.

As Politics Boil, Financial Markets Are in Dream Land

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Elections bring anxiety yet markets are calm, but the reasons behind the anxiety threaten markets. And even though markets seem unworried, that doesn't mean they are good investments.

Investors Contemplate the Corbyn Effect

After expecting a decisive Conservative victory, investors are looking at Labour Party leader Jeremy Corbyn's business and economic policies, widely considered the most left-wing platform from a major British party since the early 1980s.

Does Anyone Remember How to Make a Subprime Mortgage?

Brokers willing to learn the lost art of making risky mortgages are in demand again. Nonbank lenders that cater to riskier borrowers say they need brokers to fan out across the country and arrange mortgages to people with lower credit scores.

Winning Bid for Lunch With Warren Buffett: $2.7 Million

An anonymous fan bid $2,679,001 in a charity auction to have lunch with billionaire investor Warren Buffett, down from last year's winning bid of $3,456,789.

White House Taps Former Senate Aide Dawn Stump for CFTC Seat

The White House on Friday tapped Dawn Stump, a derivatives lobbyist and former congressional aide, to fill a Republican vacancy on the Commodity Futures Trading Commission.

British Banks Brace for Election Wobble

Shares in Britain's banks fell Friday on worries about the economy faltering in an uncertain U.K. political climate.

Acting U.S. Banking Regulator Is Recused From Decisions on Many Banks

The acting head of a top U.S. banking regulator has temporarily recused himself from matters involving 80 banks, law firms, and other entities, according to documents made public Friday.

Mnuchin Hopes Congress Lifts Debt Ceiling Before Summer Recess

The Treasury secretary said the Trump administration has "backup plans" to keep the government operating in the event Congress doesn't raise the debt ceiling before the summer recess.

(END) Dow Jones Newswires

June 12, 2017 12:29 ET (16:29 GMT)