News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

CFPB Moves to Revise Rules on Prepaid Cards, Mortgage Data

Continue Reading Below

The Consumer Financial Protection Bureau said it is delaying the rollout of its prepaid-card rule and reconsidering aspects of a 2015 mortgage-data disclosure rule, one of the first formal efforts to undo Obama-era regulations under its new Trump-appointed acting director.

A Visit to the Latest Blockchain Stock: A Long Island Beverage Maker

Long Island Iced Tea, founded in 2011 as a maker of such drinks as peach and lemon iced tea, became a different company, changing its name to Long Blockchain.

Watch Out VIX: Nasdaq Amps Up Volatility Game

Nasdaq is working on launching futures and options linked to an index that uses a different way to track volatility in the S&P 500 than the popular VIX, Cboe's so-called fear gauge.

Continue Reading Below

Brexit Bet Casts Dark Cloud Over Light Sky Hedge Fund

A bad bet on Brexit has led to a painful December for one of this year's stand-out hedge-fund launches, the latest reflection of what is turning into another painful year for some of the industry's biggest names.

Bitcoin Plunges 25% in 24 Hours in a Cryptocurrency Market Rout

The price of bitcoin tumbled sharply, wiping one-fourth of its market value in the past 24 hours alone, as a wave of selling hit the broader cryptocurrency market just before the Christmas holiday weekend.

TPG to Pay Nearly $13 Million Over Accelerated Monitoring Fees

The Securities and Exchange Commission and private-equity firm TPG have agreed to a nearly $13 million settlement over TPG's failure to adequately disclose accelerated monitoring fees associated with three of its boom-era funds.

SEC Sues Woodbridge Ex-CEO Shapiro Over Alleged Ponzi Scheme

The Securities and Exchange Commission has sued Robert Shapiro, accusing the former chief executive of Woodbridge Group of operating a Ponzi scheme that raised more than $1 billion from individual investors for the now-bankrupt real estate operation.

Cryptocurrency Founder Tries a New Play: Sell It All

The creator of litecoin, one of the major cryptocurrencies that competes with bitcoin, said he sold his stake, a major about-face in a world often characterized by true believers and tech evangelists.

Fannie, Freddie Modify Repayment Agreements With U.S.

Mortgage-giants Fannie Mae and Freddie Mac will retain some of their quarterly earnings as part of an agreement between the Trump administration and their regulator to allow them to build a small capital buffer against future operating losses.

The Internal Divide Behind Trump's CFPB Takeover

Before the White House installed a chief who wants to dismantle the Consumer Financial Protection Bureau, the Treasury secretary and some finance companies sought a leader who would let the agency keep some teeth.

(END) Dow Jones Newswires

December 22, 2017 11:15 ET (16:15 GMT)