Top U.S. Banking Regulator to Step Down

Joseph Otting is expected to step down this week as comptroller of the currency after completing an overhaul of rules governing billions of dollars of lending in low-income neighborhoods. 


 
Sony to Acquire Full Control of Financial Unit for $3.7 Billion

Though little known outside Japan, Sony Financial Holdings is a significant presence in Sony's home country, offering life insurance, auto insurance and banking products such as foreign-currency accounts. 


 
Santander Settles Predatory Auto-Lending Claims for $550 Million

The bank's deal with nearly three dozen states addresses charges it engaged in predatory auto lending to borrowers with low incomes and subprime credit scores. 


 
China's Reference Lending Rates Unchanged in May

China's reference lending rates for both short- and long-term loans were unchanged this month, as Beijing vowed more monetary support for a virus-hit economy. 


 
South Korea to Set Up $8.2 Billion Entity for High-Risk Corporate Debt

South Korea's central bank and government will set up a $8.16 billion entity to buy high-risk corporate debt to help ease the coronavirus-induced liquidity crunch. 


 
Fed's Rosengren Warns Premature Reopening of Economy Carries Risk

Federal Reserve Bank of Boston President Eric Rosengren cast a cautious eye at attempts to restart the economy amid the unresolved coronavirus crisis, while also reaffirming the central bank's desire to do what it takes to offset the pandemic's impact. 


 
Coronavirus Shutdowns Wreak Devastating Toll on Poorest Nations, World Bank Chief Says

The coronavirus pandemic is causing a humanitarian emergency in the world's poorest countries, and it won't likely end until rich nations are able to safely reopen their economies, the head of the World Bank said. 


 
Lachy Groom Raising About $100 Million for Second Fund

Lachy Groom, an early Stripe employee and an angel investor, is raising his second fund to back early-stage startups, according to people familiar with the situation. 


 
Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services 


 
Advisor Group Hires United Capital's CFO - Barrons.com

The network of broker-dealers named Jon Frojen as its new CFO. He joined from the former United Capital, the big RIA that Goldman Sachs acquired last year.