News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Bitcoin Plunges as South Korea Crafts Crypto Crackdown

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Bitcoin prices tumbled Thursday, as a top official from South Korea said the government is preparing a bill to ban the trading of cryptocurrencies on exchanges.

Bond Markets Have Picked Up the Wrong Signal From Japan

Investors should revisit the theory behind the Bank of Japan's yield-curve-control policy before assuming it has changed track.

Treasurys Stumble Again Amid Foreign-Demand Worries

Investors grappled with the spreading ripples from a selloff in U.S. Treasury debt, reflecting expectations that higher bond yields will affect everything from asset prices to mortgage rates.

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Massachusetts Seeks Sales-Practice Information From Discount Brokers

The Massachusetts Securities Division confirmed that it sent letters of inquiry to the three largest discount brokers by assets, Fidelity, Charles Schwab Corp. and TD Ameritrade Holding Corp., in response to the sales practices profiled in an article The Wall Street Journal published Wednesday.

Judge Again Backs White House in CFPB Leadership Fight

A federal judge sided with the Trump administration for a second time in a fight over the control of the Consumer Financial Protection Bureau, denying a request for a preliminary injunction filed by an Obama-era official.

Fed's Bullard Says Price-Level Targeting Is Worth Considering

St. Louis Fed President James Bullard said a debate over what monetary policy strategy would best serve the economy could influence officials to aim for higher inflation.

Trump Officials Seek to Change Rules on Lending to the Poor

The Trump administration plans to unveil a major revision to decades-old banking rules that mandate lending to poor borrowers, potentially transforming the way banks make billions of dollars in loans, investments and donations to poorer customers.

Advisers at Leading Discount Brokers Win Bonuses to Push Higher-Priced Products

At Fidelity, Schwab and TD Ameritrade, employees win extra pay or other incentives to put clients in products that are more lucrative for them, and the firm. Customers may end up with products and services that are costlier than they need.

What the Tax Law Will Do to Bank Earnings

It is going to be a noisy quarter for bank earnings. Because of the tax-overhaul law, big banks are going to record a host of special charges that cut into fourth-quarter profit.

Buffett Promotes Two Executives, Setting Up Contest to Succeed Him

Warren Buffett has elevated two longtime Berkshire Hathaway executives, Gregory Abel and Ajit Jain, to vice chairman roles, all but confirming speculation that one of them is in line to replace him.

(END) Dow Jones Newswires

January 11, 2018 07:15 ET (12:15 GMT)