News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Yellen Defends Fed Rate-Rise Plan Despite 'Mystery' of Low Inflation

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Federal Reserve Chairwoman Janet Yellen defended the central bank's projection for a gradual path of rate increases over the next few years, but said the Fed could consider a slower pace if low inflation proves persistent.

U.S. Treasury Adds Eight North Korean Banks to Sanctions List

The U.S. Treasury Department named eight North Korean banks and 26 individuals linked to the nation's financial networks to its sanctions list.

Bank of America Venture Trims 10% of Staff as Part of Digital Push

Bank of America Corp.'s merchant-services joint-venture has laid off about 10% of its staffers as a part of a restructuring, according to a person familiar with the matter.

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SEC Accuses Analyst of Trading on His Reports

Jason Napodano has reached a settlement with the SEC, agreeing to a permanent ban on trading penny stocks and to pay about $305,000, which includes paying back the improper gains and a penalty.

An Entire Real Estate Deal Takes Place Online, Using Cryptocurrency Technology

As digital currencies such as bitcoin grow more popular, proponents have predicted there will come a time when major transactions like real estate sales will be done entirely online, down to the recording of property titles.

Puerto Rico Faces Restart on Financial Plan After Maria

It took months to put together a financial overhaul plan for Puerto Rico. Now officials may have to start over following Hurricane Maria.

Lenders Jockey for Chicago Hotel Loan

A developer who converted 12 floors of a historic Chicago office building into a luxury hotel has refinanced the property with a $270 million loan, in a deal that shows financial institutions still have a strong appetite for commercial property debt.

Equifax CEO Smith to Exit Following Big Data Breach

Equifax Chief Executive Richard Smith is leaving the credit-reporting company after a massive data breach under his watch exposed the information of about 143 million Americans.

Lawmakers Criticize SEC Head Over Handling of Hack

Senators criticized the SEC's new leader for how the agency handled a 2016 breach of its cornerstone system for storing market-moving information.

Legendary Deal Maker Greenhill's New Assignment: His Own Struggling Firm

Greenhill & Co., the investment bank founded 21 years ago by star merger banker Robert Greenhill, has fallen into a prolonged deal-making slump and this week sought a financial lifeline from its founder.

(END) Dow Jones Newswires

September 27, 2017 00:15 ET (04:15 GMT)