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.

Insurers Could Make Trouble as Fed Balance Sheet Shrinks

Everyone is wondering how markets will react when central banks unwind their huge bond-buying programs. One sector where regulators have definite concerns is insurers.

Mortgage Firms 'Churning' Refinance Loans to Veterans

Ginnie Mae is going after lenders who push military veterans to refinance their home loans and rack up thousands of dollars in unnecessary fees.

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TPG Consortium Seeks Buyers for Indonesian Finance Company

An investor group that includes TPG Capital is looking to sell its controlling stake in one of Indonesia's oldest finance companies, in a deal that could value the company at about $1 billion.

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.

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.

FBI, SEC Look Into Country's Largest 'Green' Lender

Investigators from the FBI and the SEC are looking into business practices at Renovate America Inc., the largest provider of energy-saving, home-improvement loans, according to people familiar with the matter and documents reviewed by The Wall Street Journal.

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.

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.

(END) Dow Jones Newswires

September 27, 2017 11:15 ET (15:15 GMT)