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News Highlights: Top Financial Services News of the Day

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08/14/2020 | 08:16am EDT
An AmEx Manager Says She Spoke Up About Sales Problems, Then Got Pushed to the Side 
 

Sophia Lewis was a rising star at American Express. She says she saw co-workers mislead the company about cards they sold. 'It was when I started raising red flags,' she said, 'that things started going downhill.'

 
Finance Chiefs Are on the Move as Pandemic Adds Strain 
 

Finance chiefs are changing jobs again after a slowdown in exits and recruitment in the spring, as the pandemic is forcing them to rethink their business models and adding to an already high workload.

 
Trump Administration Criticizes New Fannie Mae, Freddie Mac Mortgage Fee 
 

The administration criticized a move by the mortgage-finance companies to charge a new fee on certain mortgages, saying it would harm consumers.

 
China Broadens Digital Currency Pilot Program 
 

China's commerce ministry unveiled a pilot program to use a digital currency across major cities, expanding on an initiative to launch the first electronic payment system by a major central bank.

 
Citigroup Pays Revlon Lenders Nearly $900 Million by Mistake 
 

The bank paid nearly $900 million by mistake to Revlon lenders and is asking for the money to be returned, according to people familiar with the matter.

 
Hunt for Ex-Wirecard Executive Goes Public in Germany 
 

Investigators are asking the public to help them find Jan Marsalek, the elusive former Wirecard executive who prosecutors suspect played a central role in inflating the fintech company's results by booking fake income for years.

 
Executive Moves at AIG Bolster Position of Possible CEO Successor 
 

The latest management moves at American International Group provide further signs that Peter Zaffino is positioned to succeed Chief Executive Brian Duperreault.

 
Berkshire Partners Seeks $6.5 Billion for Newest Fund 
 

Berkshire Partners, a Boston-based buyout firm, has started pitching its 10th midmarket fund, according to prospective investors and a regulatory filing.

 
U.S. Mortgage Lenders Face New Fee to Cover Heightened Risks 
 

Fannie Mae and Freddie Mac said they would impose a new fee to insulate themselves from losses on refinanced mortgages they guarantee, a sign of potential turbulence in the housing market and a move likely to generate pushback from lenders.

 
Zurich Insurance Profit Falls 40% 
 

Zurich Insurance reported a steep drop in first-half operating profit to $1.70 billion, and cautioned that it expects little growth this year in net earned premiums from property and casualty risk.

 
 


Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN EXPRESS COMPANY 0.19% 91.24 Delayed Quote.-26.71%
AMERICAN INTERNATIONAL GROUP INC 0.64% 31.49 Delayed Quote.-38.65%
CITIGROUP INC. 0.66% 41.42 Delayed Quote.-48.15%
FREDDIE MAC -1.09% 1.81 Delayed Quote.-39.74%
REVLON, INC. -11.45% 4.1 Delayed Quote.-80.86%
WIRECARD AG -0.25% 0.5999 Delayed Quote.-99.44%
ZURICH INSURANCE GROUP LTD 1.00% 304 Delayed Quote.-23.45%
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