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News Highlights: Top Financial Services News of the Day

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09/24/2020 | 08:16am EDT
Even in a Pandemic, Venmo Tells Conned Customers to Pay Up 

Venmo has fostered a compassionate public image during the pandemic, touting the popular payments app as a way to virtually tip out-of-work bartenders and give to hospitals. Yet it has taken a harder line against users who ended up overdrawing their accounts.

Banks Love 2020 Market, but Market Doesn't Love Them Back 

While investors are still sour on the stocks of big banks, industry executives say parts of the business are booming

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.

Mitsubishi UFJ Lease & Finance, Hitachi Capital Agree to Merge 

The merged Mitsubishi UFJ Lease and Hitachi Capital entity would have 10 trillion yen in assets and nearly 10,000 employees.

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.


Stocks mentioned in the article
ChangeLast1st jan.
HITACHI CAPITAL CORPORATION -3.72% 2200 End-of-day quote.-23.58%
JPMORGAN CHASE & CO. 0.90% 98.04 Delayed Quote.-29.67%
MITSUBISHI UFJ FINANCIAL GROUP, INC. -0.34% 410.2 End-of-day quote.-30.85%
WELLS FARGO & COMPANY 1.47% 21.45 Delayed Quote.-60.13%
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