News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Equifax Hack Upends CEO's Drive to Be Data Powerhouse

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Richard Smith took over as chief executive of Equifax 12 years ago this week. Under him, Equifax's market value more than quadrupled as the credit-reporting company became a data giant-before a systems breach raised questions about the company and its leader.

ECB's Draghi Pours Cold Water on Virtual Currencies

Technology underpinning virtual currencies isn't yet at a stage where it has an impact on central bank policy, according to European Central Bank President Mario Draghi.

BIS Says Globalization Is Answer to Inflation Puzzle

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.

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China Outpaces Silicon Valley in Mobile-Payments Race

China's online juggernauts Alibaba Group Holding and Tencent Holdings are beating Silicon Valley in the race to build mobile-money systems in some of the world's fastest-growing consumer markets.

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.

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.

Fed Could Raise Rates Again This Year, Says Williams

Federal Reserve Bank of San Francisco President John Williams said he expects the Fed to continue raising interest rates gradually, and that this could include another increase by the end of this year.

Kansas City Fed President Says Additional Rate Increases 'Appropriate'

Federal Reserve Bank of Kansas City President Esther George said she continues to support increases in short-term interest rates along a "gradual path."

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.

(END) Dow Jones Newswires

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