News Highlights: Top Financial Services News of the Day

How Credit Unions Outgrew Their Down-Home Reputation 
 

Credit unions, long seen as a humdrum corner of consumer finance, are going toe-to-toe with the biggest financial institutions.

 
Silver Lake to Retool Its Top Ranks 
 

Silver Lake is rejiggering its top leadership ranks, elevating two longtime executives to lead the firm as it enters a new chapter in its growth.

 
UniCredit Cuts Stake in Turkish Bank 
 

UniCredit has agreed to cut its stake in Turkish bank Yapi Kredi to below 32%, in a move which analysts see as a step to potentially exit Turkey.

 
Political Uncertainty Pressures Emerging-Market Currencies 
 

Economic and political concerns have stalled a rally in emerging-market currencies, leading some investors to second-guess the optimistic mood that has buoyed global stocks in recent weeks.

 
Financial Services Roundup: Market Talk 
 

The latest Market Talks covering Financial Services

 
Private-Equity Cash Piles Up as Takeover Targets Get Pricier 
 

U.S. private-equity firms, armed with a record amount of cash, are struggling to find ways to spend it, as already expensive takeover candidates have gotten even pricier, making many of them too rich for even the most optimistic private-equity buyer.

 
E*Trade's Future Is Clouded by Schwab-TD Ameritrade Deal 
 

The prospects of E*Trade as an acquisition target dimmed in the wake of the $26 billion merger announcement of its two larger rivals, Charles Schwab and TD Ameritrade.

 
Yes Bank Plans to Raise $2 Bln via Preferential Share Allotment 
 

The bank's board has approved a proposal under which $1.2 billion worth of shares will be bought by Canadian investor Erwin Singh Braich and another $500 million by Citax Holdings Ltd. & Citax Investment Group.

 
Norwegian Police to Investigate DNB Over Iceland Money-Laundering Allegations 
 

Police have launched an investigation into Norwegian bank DNB ASA's involvement in handling payments from an Icelandic fishing company embroiled in a bribery probe.

 
CFTC Relying More Heavily on Coordination with Criminal Prosecutors 
 

The Commodity Futures Trading Commission during the 2019 fiscal year filed a record 16 enforcement actions alongside related criminal charges, the agency said this week in its annual enforcement report.