News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

White House Weighs Former Pimco CEO El-Erian for Fed Vice Chairman

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The White House is considering economist Mohamed El-Erian as one of several candidates to potentially to serve as the Federal Reserve's vice chairman.

Default in Venezuela: What's Next

Venezuela has been falling behind on debt payments in its prolonged economic crisis. The country has said it wants to restructure its remaining debt, but observers say Venezuela's debt crisis could be one of the most complicated in history.

Fed's Bullard Repeats Opposition to Rate Rises

Federal Reserve Bank of St. Louis President James Bullard reiterated his long-held belief that weak inflation means the central bank shouldn't be contemplating another rise in interest rates.

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Fed's Bostic: Gradual Rate Rises Appropriate Over Next Several Years

Federal Reserve Bank of Atlanta President Raphael Bostic said Tuesday the U.S. central bank should press forward with interest-rate rises.

BOE's Cunliffe Says He Voted Against Rate Rise on Weak Wage Growth

Jon Cunliffe, deputy governor for financial stability at the Bank of England, said he voted against the U.K. central bank's November interest-rate increase because of weak wage growth.

SEC Rejects Exchanges' Request to Delay Surveillance Database

Wall Street's top overseer rejected a last-minute request from securities exchanges to delay a vast database of trading information billed as the most advanced defense against manipulation and bouts of market mayhem.

Wells Fargo Trims Small-Business Card-Processing Unit

Wells Fargo laid off about 50 employees as it continues to restructure its credit-card processing business geared toward small-business customers, a bank spokeswoman said.

CEOs on the Tax Plans: Watching the Details

While lawmakers craft tax-overhaul legislation, battling over corporate tax rates and rules for overseas income, corporate chiefs are sweating some of the smaller stuff.

Canada Housing Insurer Warns of Housing Risk Among Unregulated Lenders

Mortgage risk is rising among Canadian financial institutions that aren't regulated by the federal government, warned the CEO of the country's state-owned mortgage insurer.

Departing FDIC Chief: Postcrisis Rules Are There for a Reason

Federal Deposit Insurance Corp. Chairman Martin Gruenberg warned that efforts to loosen some postcrisis restrictions could be premature and could put the financial system at risk of another meltdown.

(END) Dow Jones Newswires

November 15, 2017 00:15 ET (05:15 GMT)