News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Wells Fargo Fires 4, as Woes Spread to Investment Banking

Continue Reading Below

Wells Fargo has fired four foreign-exchange bankers amid an investigation into that business by both the bank and regulators.

AmEx Chief's Mission: Get Millennials, Keep the Rich

Incoming American Express CEO Stephen Squeri is looking to regain the cachet of the AmEx brand, both for millennials who don't view it the same way as their parents and for established customers who have been wooed by banks offering better services and more perks.

First Data to Buy BluePay for $760 Million

First Data said it has reached a deal to buy payments-processing firm BluePay Holdings.

Continue Reading Below

A Social Network Credit Union? Regulator Asks, 'Why Not?'

Congress should consider allowing credit unions to serve communities that exist only online, the industry's top regulator said-remarks that could stir ire in the banking industry.

Japan's SoftBank Plans Second Giant Tech Fund

SoftBank Group Corp., which runs what is already the world's biggest technology investment fund, is planning to create a second fund that could be even larger, according to people close to the Japanese telecommunications and investment giant.

Your Favorite Tax Break Isn't as Great as You Think

The income-tax benefits Americans love most are actually some of the least effective given their cost in forgone revenue.

Fed's Mester Says It May Be Time to Ease Rules on Smaller Financial Firms

Cleveland Fed President Loretta Mester said regulatory burdens could be eased on small financial institutions, in a speech that described her vision of how best to regulate the banking sector.

How High Could Rates Go if John Taylor Becomes Fed Chairman?

The Federal Reserve's benchmark interest rate would be significantly higher if the 1993 "Taylor rule," named for the Fed chairman contender, were applied.

Switzerland's Old-Money Problem: One Billion in Expiring Francs

One of the world's most coveted currency notes, the Swiss franc, includes a feature that runs at odds with its reputation as a safe store of value: It has an expiration date-and for some notes, that is fast approaching.

How the GOP Tax Bill Could Squeeze Your 401(k)

Proposals floating around Washington to cap the amount that Americans can contribute before taxes to 401(k) plans and individual retirement accounts are unsettling professionals in the retirement industry.

(END) Dow Jones Newswires

October 20, 2017 16:15 ET (20:15 GMT)