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Fintech Firm SoFi Says CEO Mike Cagney Will Step Down by Year-End

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Social Finance Inc., one of the most highly valued private financial-technology startups in the U.S., said on Monday night that Chairman and Chief Executive Mike Cagney would step down by the end of the year.

Ex-Executive at Deutsche Bank Accused in Subprime Loan Case

Federal prosecutors accused the former head of subprime mortgage trading at Deutsche Bank AG of misleading investors about loans backing $1.4 billion in securities issued in 2007, according to a fraud complaint filed in Brooklyn federal court.

Equifax Lobbied for Easier Regulation Before Data Breach

Equifax was lobbying lawmakers and federal agencies to ease up on regulation of credit-reporting companies in the months before its massive data breach.

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Google Plots to Conquer Self-Driving Cars-by Making Peace With Detroit

John Krafcik spent decades in the auto industry. As the head of Waymo, Alphabet's autonomous vehicle unit, he's charged with schooling Silicon Valley in the ways of Detroit.

Yelp Claims Google Broke Promise Made to Regulators

Online-reviews firm Yelp Inc. alleged that Google is breaking a promise it made as part of a 2012 regulatory settlement to not scrape content from certain third-party sites including Yelp, escalating its yearslong battle against the search giant.

Opioid Painkiller Makers Seek to Dismiss State Lawsuit

A group of opioid painkiller makers has asked an Ohio court to dismiss the state's case alleging the companies misrepresented the addiction risks of their drugs, arguing the lawsuit is "fatally defective."

Rue21 Wins Confirmation of Chapter 11 Turnaround Plan

Ailing retailer rue21 got a fresh start in bankruptcy court, and its exiting owners, Apax Partners, got out from under the threat of lawsuits from vendors, landlords and other creditors owed $409 million.

Coming Soon: A Streaming TV Bundle for People Who Don't Like Sports

Cable channels owned by Discovery Communications, Viacom Inc., AMC Networks, A+E Networks and Scripps Networks Interactive will be part of a new streaming service expected to have a "soft launch" in coming weeks that will exclude sports programming.

Wholesaler WYNIT Puts Distribution Business Up for Sale

Technology products distributor WYNIT Distribution, which filed for bankruptcy protection Friday, said its bank lenders will fund the cash-strapped business until it can find a buyer at a court-supervised auction.

Ferrari Bets Racetrack Wins Will Speed Showroom Sales

Ferrari, fresh from a series of Formula One wins, this week will test its costly participation in auto racing by launching a model aimed at ordinary, though well-heeled, drivers.

(END) Dow Jones Newswires

September 11, 2017 23:15 ET (03:15 GMT)