News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

U.S. Targets Bitcoin Exchange, Alleging It Facilitated Crime

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U.S. law-enforcement authorities took aim at one of the world's largest digital-currency exchanges this week in an anti-money-laundering operation that spanned two continents.

Mnuchin: Volcker Rule, 'Too Big to Fail' Set for Changes

The Trump administration is working with bank regulators to roll back postcrisis rules, Treasury Secretary Steven Mnuchin said, namely the Volcker rule and the system of determining which financial firms are considered "too big to fail."

Fed Nominee Quarles: Bank Stress Tests Need More Transparency

Randal Quarles, Donald Trump's pick to become the Federal Reserve's point person on financial regulation, told lawmakers he would support changes to the central bank's stress tests for big banks.

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SEC Scrutiny of Private Equity May Dwindle, Official Says

Private-equity firms may see less frequent oversight from regulators as the Securities and Exchange Commission pivots to focusing more on protecting retail investors, its head of examination said Thursday.

Lehman 'Double Dip' Trader Denied Bulk of $83 Million Bonus

A federal appeals court refused to let an ex-Lehman Brothers Inc. bond trader collect the bulk of an $83 million "double dip" for bonuses he claimed he was owed in the defunct broker-dealer's liquidation.

Invesco Warns About Costs of Pursuing New Clients

Invesco's shares tumbled after executives warned that the asset manager would rack up higher expenses in its pursuit of new clients, crimping profit margins and tempering recent optimism about the money-management industry.

CFTC Nominees Vow to Finish Derivatives Rule, Disagree on Details

The three nominees for the Commodity Futures Trading Commission promised to complete a long-delayed rule on position limits in derivative markets, though the two Republicans and one Democrat made clear they disagreed on the specifics.

Fed Drops Enforcement Action Against M&T Bank

The Federal Reserve ended a four-year-old enforcement action against M&T Bank Corp., removing a cloud over the Buffalo, N.Y., bank that had restricted it from deal making.

Mastercard Results Beat Estimates as Consumers Boost Spending

Mastercard reported stronger-than-expected earnings and revenue for the second quarter as consumers boosted their spending.

Deutsche Bank Hit by Steep Revenue Declines Amid Overhaul

Deutsche Bank cost-cutting moves helped it beat analysts' expectations in the second quarter, but revenue fell in all three business divisions as its chief executive faces pressure to revive results amid a broad restructuring.

(END) Dow Jones Newswires

July 28, 2017 00:15 ET (04:15 GMT)