News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Tax Law Could Slow Down a Bank Favorite: Jumbo Mortgages

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The tax-code overhaul eliminates some of the benefits of homeownership, particularly for high-end homes. And the borrowers who buy those homes are exactly whom banks have been targeting.

Tax Overhaul Could Jolt Dollar as Firms Bring Home Cash

A provision of the tax overhaul is expected to release a tide of U.S. corporate cash from abroad, a development likely to jolt the dollar and reverberate throughout financial markets early next year.

Japan's Mitsubishi UFJ Bolsters Its Presence in Indonesia

Mitsubishi UFG Financial said it planned to take a majority stake in a midsize Indonesian bank, bolstering its presence in a fast-growing Asian nation to balance weakness in Japan.

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Exempting Small Banks From Volcker Rule Is Popular, but Not With Their Regulator

A Senate proposal to exempt thousands of small U.S. banks from the Volcker rule restrictions on speculative trading is winning broad support-except from the regulator that oversees most of those banks.

Investors Diving Into Risky Bank Bonds

Cocos are hot again. The junior bonds that are designed to help shore-up banks during a crisis are ending 2017 with yields near record lows but they can become risky in sudden and unexpected ways.

Credit Unions Want Permanent Say Over Regulator's Budget

A bill that could become law next year would require the U.S. credit-union regulator to submit its budget to public comment, a change that critics say gives the industry a platform for influencing its overseer.

Goodbye, George Bailey: Decline of Rural Lending Crimps Small-Town Business

Banks are closing branches and paring credit in rural America, focusing instead on booming urban markets. That leaves communities without the friendly faces of finance that once sustained them, and worsens an already tough economic environment.

Neuberger Unit Takes Minority Stake in Cerberus's Credit Arm

Dyal Capital Partners bought the stake in Cerberus Business Finance, betting on a firm with a long history of lending to midsize companies.

Bitcoin Cash, Litecoin, Ether, Oh My! What's With All the Bitcoin Clones?

Bitcoin's wild ride has gotten a huge amount of attention. But over the past two weeks, some of its crypto cousins, like Litecoin and Bitcoin Cash, have muscled their way into the spotlight.

Bank of America to Give Employee Bonuses Following Tax Overhaul

Bank of America is giving some employees $1,000 bonuses tied to the tax-overhaul bill, making it the latest company to announce such a perk since the legislation passed.

(END) Dow Jones Newswires

December 26, 2017 11:15 ET (16:15 GMT)