News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Yellen Open to Change in Some Bank Rules, But Not All

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Federal Reserve Chairwoman Janet Yellen on Wednesday expressed an openness to altering bank regulations, including expectations for banks' boards, but pushed back on some potential rule changes.

David Einhorn's Hedge Fund Clients Pull More Than $400 Million

David Einhorn's Greenlight Capital hedge fund experienced more than $400 million in clients withdrawals at midyear, a period that included a rejection of his call for a GM split and an unrealized tech-stock-decline prediction.

White House to Nominate Russ Behnam as CFTC Commissioner

The White House is expected to nominate Russ Behnam, a Senate Democratic aide, to be a commissioner on the Commodity Futures Trading Commission as early as this week.

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Fed's George Wants Balance-Sheet Reduction 'in the Near Future'

Kansas City Fed President Esther George warned that a failure to reduce the size of the central bank's balance sheet soon would increase the risks of economy-damaging financial instability.

Bank Earnings: What to Watch

Calm markets, the Fed raising interest rates and lighter lending are among the factors seen influencing second-quarter results at the major U.S. banks.

Trump's Pick for Top Bank Regulatory Post Withdraws

President Trump's pick to run the Federal Deposit Insurance Corp. board has withdrawn himself from consideration, a White House spokeswoman said.

RBS to Pay $5.5 Billion to Settle Mortgage-Backed Securities Probe

Royal Bank of Scotland agreed to pay $5.5 billion to a U.S. agency to settle a probe into its sale of toxic mortgage-backed securities in the runup to the financial crisis.

J.P. Morgan Names New Government Relations Head

J.P. Morgan Chase is naming a former chief of staff to two House majority leaders as its new head of government relations.

Visa Takes War on Cash to Restaurants

Visa has a new offer for small merchants: take thousands of dollars from the card giant to upgrade their payment technology. In return, the businesses must stop accepting cash.

Ex-Banker Sentenced to Prison After Pleading Guilty to 1MDB-Linked Money Laundering

A Singapore court sentenced a former banker to 4 1/2 years in prison after he pleaded guilty to a money-laundering offense and deception linked to his handling of allegedly misappropriated funds from Malaysian state investment fund 1MDB.

(END) Dow Jones Newswires

July 13, 2017 11:15 ET (15:15 GMT)