News Highlights: Top Financial Services News of the Day

Goldman Promotes 465 Managing Directors as It Looks to Regain Luster 
 

Women make up a record 29% of newly minted managing directors at the firm, slightly higher than the roughly one-quarter in each of the past two cycles. Two-thirds are millennials, a group Wall Street banks have struggled to keep happy.

 
Rewrite of Lower-Income Lending Rules to Advance in December 
 

A top bank regulator is poised to propose changes to bank lending requirements that could potentially transform the way lenders make billions of dollars in loans, investments and donations to customers in lower-income areas.

 
Wells Fargo's General Counsel, Former Interim CEO Parker to Leave 
 

Wells Fargo & Co. said Thursday its general counsel who recently served a stint as interim chief executive, C. Allen Parker, will leave the bank at the end of March.

 
Powell Signals Optimism but Cites Trade Uncertainties 
 

Fed Chairman Jerome Powell told lawmakers on Capitol Hill the central bank was optimistic its interest-rate cuts this year would buoy the U.S. economy against headwinds, including trade uncertainty and a global slowdown.

 
Fed's Bullard: After Three Cuts, It's Now Time for Fed to Hold Steady 
 

St. Louis Fed leader James Bullard said he doesn't see any need to lower interest rates beyond the three cuts the U.S. central bank has made this year.

 
NN Profit Hit by Lower Non-Operating Items 
 

Dutch insurer and asset-management firm NN Group reported a 35% fall in net profit for the third quarter to EUR515 million, mainly reflecting lower non-operating items.

 
New York Fed Pumps In $104.293 Billion in Temporary Liquidity 
 

The New York Fed added $104.293 billion to financial markets through overnight repurchase agreements and from a 13-day repo operation.

 
Financial Services Roundup: Market Talk 
 

The latest Market Talks covering Financial Services

 
Bank of Canada Expands Lending Toolkit 
 

The Bank of Canada plans to expand its lending options with a new tool aimed at financial institutions experiencing short-term stress resulting from extraordinary events like a cyberattack or a natural disaster.

 
Homespun Firms Challenge Wall Street's Muni-Bond Supremacy 
 

Wall Street's hold on the municipal-bond market faces a challenge from small municipal advisers, as the SEC considers allowing these advisers to arrange private bond sales to skilled investors without the involvement of large banks and midsize brokers.