News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

From Belgrade to the Pinnacle of Washington's Banking World

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Jelena McWilliams, an immigrant born in the former Yugoslavia, has been a quiet force for years in shaping Republican policy on the banking industry. Her stature is about to expand greatly if she is confirmed to lead the FDIC.

Fed Plans to Disclose More About Big-Bank Stress Tests

The Federal Reserve proposed disclosing more about its big-bank stress tests, in response to criticism from bankers who have said the exams' results are hard to understand.

Wall Street Banks Hit Pause Button on Bitcoin

As investors rush into bitcoin, some big Wall Street banks are hitting the brakes ahead of the launch of the first bitcoin futures market, which is set to go live on Sunday.

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Morgan Stanley Fires Harold Ford Jr. After Conduct Complaint

Morgan Stanley has fired former congressman Harold Ford Jr. as a senior adviser to the firm after investigating a claim of inappropriate conduct.

U.S. Consumer Credit Increased by $20.52 Billion in October

Outstanding consumer credit rose by $20.52 billion in October from the prior month, climbing at a 6.51% seasonally adjusted annual rate, the Federal Reserve reported.

Creditors Put Toys 'R' Us Debt Under Microscope

Toys 'R' Us creditors are seeking permission to obtain more documents related to numerous debt transactions that took place in the years leading up to the retailer's September bankruptcy filing.

Windstream Lawyer Calls Out Aurelius for Pushing Default

Windstream Holdings Inc.'s lawyer has called out Aurelius Capital Management over its campaign to push the company into default, saying it is simply looking to profit from credit default swaps on the company's debt.

Global Bank Battle Over Basel III Finally Concludes

Global finance officials on Thursday agreed on long-awaited banking rules that reach a compromise between opposing European and U.S. views about how to measure the riskiness of lenders.

World's Largest Money-Market Fund Slows the Flow

Yu'e Bao, a $235 billion online fund run by an Alibaba affiliate, is limiting the daily amount individuals can invest in it after its rapid growth caught the attention of China's securities regulator.

Bitcoin's Wildest Rise: 40% in 40 Hours

Bitcoin mania reached new highs as the price of the digital currency jumped about 40% in about 40 hours, smashing through five separate $1,000-barriers and surging past the $16,000 mark.

(END) Dow Jones Newswires

December 08, 2017 07:15 ET (12:15 GMT)