News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Russia Cuts Lending Rate to 8.5%

Continue Reading Below

Russia's central bank cut its key lending rate to 8.5% from 9% and said it could ease rates further in the next six months.

SoFi CEO Cagney to Leave Firm Immediately

Online lender Social Finance said CEO Mike Cagney would immediately step down and give up his seat on the company's board, an about-face as the company deals with accusations of improper workplace culture.

One House, 22 Floods: Repeated Claims Drain Federal Insurance Program

As they tally up hurricane losses, government officials are looking for ways to step up purchases of frequently flooded houses, which have become a huge drain on the federal flood insurance program.

Continue Reading Below

Bank of Canada 'Open' to Inflation-Targeting Changes, Official Says

Bank of Canada's second-highest ranking official, Carolyn Wilkins, said she is "completely open" to exploring alternatives to the central bank's inflation-targeting regime, including whether there should be less of an emphasis on hitting 2%.

CFPB Gives Boost to New Ways of Vetting Customers

The government gave a boost Thursday to lenders that are using data such as employment and bill payment histories when vetting customers for loans and other credit products,

Puerto Rico Utility Creditors Thwarted on Receivership Push

The judge overseeing Puerto Rico's public power monopoly blocked creditors from installing a receiver to stop what they say is mismanagement of one of the largest U.S. utilities.

SunTrust Settles Charges of Steering Clients to Higher Fees, SEC Says

The SEC said SunTrust Banks has agreed to settle charges that the lender's subsidiary collected some $1.1 million in avoidable fees by pushing the costlier option of certain mutual funds on clients.

J.P. Morgan Pledges Increased Support for Chicago

J.P. Morgan Chase has pledged $40 million to help ailing neighborhoods on Chicago's south and west sides, following a similar model it applied in Detroit that focuses on economic growth to address poverty and violent crime.

Equifax Customers Seeking Safety Got Burned in Data Breach

People who purchased credit-monitoring services from Equifax seeking added protection from fraud were among those who had their credit-card data stolen as part of the massive data breach, according to people familiar with the matter.

Bitcoin Losses Worsen as Chinese Exchange Closes

Bitcoin prices fell sharply after China's second-largest digital-currency exchange said it was shutting down its domestic operations, the latest development in Beijing's attempts to impose control over the stateless currency.

(END) Dow Jones Newswires

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