News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

House Passes GOP Tax-Overhaul Bill

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The House of Representatives passed a bill that would usher in the most far-reaching overhaul of the U.S. tax system in 31 years, backing a plan that would lower the corporate tax rate to its lowest point since 1939 and cut individual taxes for most households in 2018.

Fed's Kaplan 'Actively Considering' Support for Rate Increase

Federal Reserve Bank of Dallas President Robert Kaplan said Thursday he is "actively considering" supporting an increase in short-term interest rates at coming U.S. central bank policy meetings.

Merrill Lynch's 2018 Pay Plan Spurs Some Dissent in Broker Ranks

Merrill Lynch's pay plan for 2018 is stirring opposition among some veteran brokers, underscoring tensions in an industry that faces growing competitive pressure and an aging workforce.

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Senate Approves Joseph Otting for Top Banking Role

The Senate approved Joseph Otting as the comptroller of the currency, filling one of the remaining positions on the Trump administration's financial team.

Fed's Brainard: Consumers Need Control of Their Financial Data

Consumers need to be in control of their financial data, Federal Reserve governor Lael Brainard said, wading into a continuing debate about rules governing the use of personal data in new financial products.

PayPal Makes Growth Play as Market Cap Tops $90 Billion

PayPal said it agreed to sell Synchrony Financial nearly $6 billion in loans it made to online shoppers, a deal that will give the payments company significant cash that it can use for acquisitions or share buybacks.

Two Sigma Planning to Raise Outside Money

Two Sigma Investments is preparing to raise outside money for its private-equity strategy, which has for years invested only partners' money, according to people familiar with the matter.

BOE Will Act When 'Concrete' Details on Brexit Are Known, Officials Say

The Bank of England's senior officials pledged to act quickly to control inflation and support the economy once there is "concrete" information about the kind of deal the U.K. is going to strike as it leaves the EU.

Chinese Banks Find a Convertible Solution to Capital Problem

Struggling midsize banks that need to raise equity are turning increasingly to the convertible-bond market.

Synchronoss Disputes Bondholders on $1 Billion Intralinks Sale

Synchronoss Technologies is fighting back against bondholders who say the company breached its borrowing agreements through the $1 billion sale of its Intralinks Holdings subsidiary.

(END) Dow Jones Newswires

November 16, 2017 16:15 ET (21:15 GMT)