Fed Officials Step Up Calls for More Government Spending to Speed Economic Recovery

Fed officials say additional fiscal stimulus is needed to avoid an uneven and protracted recovery from the coronavirus pandemic. 


 
Bank to Pay Record Fine for 23 Million Money-Laundering, Terror-Financing Breaches

Westpac, Australia's second-largest bank, said it would pay a $920 million penalty for breaches that included a failure to detect transfers that may have been used to facilitate child exploitation in Asia. 


 
Wells Fargo CEO Apologizes for Comment on Recruiting Black Employees

Wells Fargo Chief Executive Charlie Scharf apologized in a letter to employees for his remarks related to recruiting Black talent. 


 
JPMorgan Nears Deal to Settle Spoofing Probes

The bank would pay about $1 billion to wrap up investigations into whether its trading desks manipulated prices for metals and Treasury securities. 


 
GGV Capital Hits the Fundraising Trail Amid Fresh U.S.-China Tensions

GGV Capital is on the fundraising trail seeking about $2 billion for three new funds focused on technology investments in the U.S. and China at a time of heightened tensions between the two countries. 


 
SEC Votes to Amend Whistleblower-Award Rules

The U.S. Securities and Exchange Commission has approved amendments to the rules governing monetary awards made to whistleblowers who voluntarily report potential wrongdoing. 


 
Refinancing Your Mortgage Is About to Get More Expensive

Higher costs lurk even before the adverse market fee kicks in on Dec. 1. Here's how to play it smart. 


 
Stock Exchanges Present Opportunity as Volumes Surge

Despite a surge in U.S. equity and option trading volumes this year, exchange-operator stocks are relatively cheaper than are financials overall. 


 
CME, Nasdaq to Launch Water Futures Contract

Farmers are known to pray for rain. Now they can hedge against unanswered invocations. CME Group and Nasdaq are planning to launch a futures contract later this year that will allow farmers, speculators and others to wager on the price of water. 


 
United Wholesale Mortgage Goes Public in Biggest SPAC Deal Ever

The biggest wholesale mortgage originator in the U.S. is merging with a special-purpose acquisition company in a deal that will take the lender public at a valuation north of $16 billion.