News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

White House Set to Tap Columbia Law Professor for SEC on Friday

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The White House is expected on Friday to nominate Columbia University law professor Robert Jackson to a vacant slot on the Securities and Exchange Commission, according to people familiar with the matter.

Swaps Rules Aimed at Curbing Risk to Go Into Effect in U.S.

New global swap-collateral rules will go into effect in the U.S. on Friday, following a six-month pause prompted by international coordination and compliance difficulties.

Nasdaq Tries to Ease Rules for Blank-Check IPOs

Nasdaq wants to make it easier for blank-check companies to go public, as such firms account for a growing portion of the IPO market.

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Vanguard Voted Against Wells Fargo Directors

Vanguard Group, one of the world's largest asset managers, voted against Wells Fargo & Co. nonexecutive chairman Stephen W. Sanger and two other directors this year.

Wells Raises Tally of Unauthorized Accounts by 67%

Wells Fargo said around 3.5 million customer accounts were "potentially unauthorized" in its sales-practices scandal upon the completion of its review, up from the 2.1 million accounts previously announced.

TD Bank Joins Canadian Peers With Earnings Beat

Toronto-Dominion Bank is the latest Canadian bank to top earnings estimates in its most recent quarter, aided by the country's economic growth.

Mnuchin Says White House, Congress to Release Tax Plan in Coming Weeks

The Trump administration and top congressional Republicans intend to release a more detailed tax plan in the next few weeks, Treasury Secretary Steven Mnuchin said in an interview with The Wall Street Journal on Thursday.

Life Insurer Faces Off Against African-American Church in Battle Over Rates

As life insurers raise rates on old policies, customers are pushing back with lawsuits. One trial involves "investor-owned" policies at a south Los Angeles church and allegations of unlawful use of racial data.

China Industry Group Seeks More Scrutiny for Initial Coin Offerings

Investors involved in initial coin offerings should be aware of potential fraud, illegal fundraising and misleading propaganda in China, the National Internet Finance Association of China warned.

CFPB Chief Dodges Question About Political Ambitions

Richard Cordray, director of the Consumer Financial Protection Bureau, is staying mum on how long he plans to stay in his current job or whether he intends to run for a political office.

(END) Dow Jones Newswires

September 01, 2017 00:15 ET (04:15 GMT)