Wells Fargo Ex-CEO Banned, to Pay $17 Million in Fake-Account Scandal
Former Wells Fargo CEO John Stumpf was barred from the banking industry and agreed to pay $17.5 million in a settlement with the Office of the Comptroller of the Currency.
Travelers Posts Higher Profit But Warns About Lawsuit Payments
The insurer, one of the first big property-casualty insurers to report quarterly earnings, posted a higher fourth-quarter profit but said it faced higher-than-expected claims payments for lawsuits and jury awards.
Fed Repos Add $74.2 Billion, But Net Liquidity Declines Modestly
The Federal Reserve Bank of New York intervened with two temporary additions of liquidity that nevertheless amounted to a modest reduction in the overall amount of temporary liquidity the central bank is adding to financial markets.
U.K. Court Orders Russians to Pay $900 Million Over Bank Collapse
Three former Russian bank owners were ordered by a London court to pay $900 million for siphoning money out and contributing to the collapse of domestic lender National Bank Trust five years ago.
ECB Indicates It Will Leave Negative Rates In Place for Some Time
The ECB signaled it will leave negative interest rates in place for some time, despite growing misgivings with the unconventional policy tool, as trade tensions continue to drag on the export-focused eurozone economy.
Kinderhook Enters the $1 Billion Fund Club With Sixth Offering
Kinderhook Industries, a New York-based midmarket firm, has raised its first fund to surpass the $1 billion mark.
Norges Bank Holds Key Rate Steady
Norway's central bank left its key interest rate unchanged at 1.5% and reiterated its previous stance that the policy rate will likely remain at the present level in the coming period.
Shadow Banks Come Into the Light in Global Lending
Nonbank financial institutions have a growing presence in cross-border credit, but we won't know the real effect until a downturn arrives.
Ebullient Mood in Davos Should Put Investors on Edge
Stocks are more expensive than at any time since 2002, but the world's business elite doesn't seem to care, a sign that a fresh round of complacency may be at hand.
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services