News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed Ready to Shrink Bondholdings as Soon as September

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The Fed signaled Wednesday it is ready as soon as September to start slowly shrinking its holdings of more than $4 trillion in bonds it bought to try to buoy the economy.

Fed Nominee Quarles: Bank Rules Need 'Refinements'

Randal Quarles and Joseph Otting are both set to testify before the Senate Banking Committee on Thursday.

Digital-Coin Companies Shrug Off SEC Scrutiny

Some companies planning sales of digital coins said they wouldn't be deterred by the SEC's plans to restrain the hot, new fundraising method, possibly setting up a showdown with U.S. regulators.

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Paypal Profit Rises as User Growth and Volume Hit Milestones

PayPal Holdings Inc. said that new milestones reached in user growth and payment volume helped boost its second-quarter profit by 27%.

Restraining Orders Issued in Wells Fargo Client-Data Release

Two courts blocked a former Wells Fargo & Co. broker and his attorneys from sharing or reviewing data accidentally shared with them on tens of thousands of the bank's wealth-advisory clients.

State Street CEO: 'All Engines Were Firing' During Second Quarter

State Street Corp.'s second-quarter profits beat Wall Street's estimates as rising interest rates and a market rally lifted revenue.

UniCredit Customers Targeted in Cyber Attacks

Italian bank UniCredit said the personal loan data of around 400,000 of its customers have been targeted in a series of cyber attacks over the last ten months.

Discover Misses Earnings Expectations

Discover Financial Services second-quarter earnings fell short of analysts' expectations largely due to the company setting aside more funds to cover future loan losses.

RBS to Spend More Than $1 Billion to Appease European Authorities

RBS will spend more than $1 billion on measures to increase competition in the U.K. banking market to atone for breaking European Union rules following its bailout during the financial crisis.

U.K. Regulator to Hold More Firms' Bosses Accountable

The Financial Conduct Authority is set to widen the scope of rules designed to hold senior bosses personally to account for a firm's misconduct.

(END) Dow Jones Newswires

July 27, 2017 00:15 ET (04:15 GMT)