News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

BIS Says Globalization Is Answer to Inflation Puzzle

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Globalization is the most likely explanation for surprisingly low rates of inflation, suggesting that central banks should be patient in seeking to meet their targets and avoid providing too much stimulus, according to the Bank for International Settlements.

SoFi Faces New Sexual Harassment Claim Days After CEO's Departure

A former employee of embattled online lender Social Finance Inc. accused the company of tolerating sexual harassment in a lawsuit filed Thursday.

Rogue Traders Could Take Advantage of Hacking

A hack into the Securities and Exchange Commission is raising fears that filings from thousands of companies could be available to rogue traders eager to profit from market-moving information before the agency makes it public.

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U.S. Considers Dropping Federal Oversight of AIG

U.S. officials are considering whether to remove federal oversight of insurer American International Group Inc., according to people familiar with the matter.

Stanford Professor Endorses Smaller Fed Portfolio

Stanford University economist John Taylor came down in favor of a smaller Fed portfolio during a lecture in Zurich on Thursday.

SEC Draws Scrutiny for Slow Response to Hack

The Securities and Exchange Commission's top officials weren't told until recently about a 2016 cyberattack that penetrated its system for public-company filings, raising questions about how the breach was initially handled.

Mexico Earthquakes Test Plan for Investors to Absorb Government Disaster Costs

Investors recently bought a catastrophe bond designed to minimize the financial hit to the Mexican government from earthquakes. They could now be on the hook for as much as $150 million after two major quakes struck the country in quick succession.

Equifax CEO to Testify at Senate Hearing on Data Breach

Equifax Chief Executive Richard Smith will testify in front of U.S. senators next month about the company's handling of a data breach that compromised the personal information of millions of Americans.

N.Y. Company Accused of Running Bitcoin Ponzi Scheme

The CFTC has accused New York company Gelfman Blueprint of operating a bitcoin-related Ponzi scheme, in the regulator's first fraud-related action involving the cryptocurrency.

China's Postal Savings Bank Taps Overseas Investors

State-owned Postal Savings Bank of China is raising up to $7.6 billion in one of the largest-ever sales of offshore securities by a Chinese lender.

(END) Dow Jones Newswires

September 22, 2017 07:15 ET (11:15 GMT)