News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

JPMorgan's Profit Hurt by Tax Law

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JPMorgan said Friday that its fourth-quarter profit fell from a year earlier because of one-time charges related to the recently passed tax overhaul, while earnings excluding that impact were roughly flat.

How Much New Investor Cash Did BlackRock Attract in 2017? $1 Billion a Day

The world's largest asset manager reached a new milestone during 2017: the equivalent of $1 billion of new client cash every day.

Wells Fargo Profit Rises, Helped by Tax Law

Wells Fargo said its fourth-quarter profit rose 17% as a boost from the new tax law helped mask weakness in some of the bank's main businesses.

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Fed Fines 5 Big Banks $35 Million for Foreclosure, Mortgage-Servicing Issues

The Federal Reserve fined five big banks $35.1 million for issues related to financial-crisis-era mortgage servicing and foreclosures, while also moving them out of the penalty box for what it said was a "substantial improvement" in their practices.

Visa to Card Customers: Lose the Signature

Visa, the largest U.S. card network, is ditching the signature required for customers to make debit and credit-card purchases.

CVS to Keep Aetna Headquarters in Hartford, Conn.

CVS Health Corp. has decided to keep Aetna Inc. in Hartford, Conn., reversing the insurer's plan announced last year to move its corporate headquarters to New York City.

CFPB Leadership Fight Continues as Official Appeals Court Case

An Obama-era official seeking to remove the Trump-appointed interim leader of the Consumer Financial Protection Bureau appealed her case, two days after a federal judge sided with the White House for a second time in the personnel drama.

Supreme Court to Review Whether Hiring of SEC Judges Violated Constitution

The Supreme Court said it would review the Securities and Exchange Commission's in-house judicial system, agreeing to decide whether the commission's judges were selected in a way that violates the Constitution.

Senate Panel Sets Date for Hearing on Trump FDIC Pick

The Senate Banking Committee is expected to meet Jan. 23 to consider the nomination of Jelena McWilliams to lead the Federal Deposit Insurance Corp., according to a person familiar with the matter.

Steven Mnuchin Unsure if Bill Needed to Shore Up Tax Law

Treasury Secretary Mnuchin said it isn't clear whether Congress will need to take up a bill to make technical corrections to the sweeping new tax law that took effect this month.

(END) Dow Jones Newswires

January 12, 2018 16:15 ET (21:15 GMT)