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News Highlights: Top Financial Services News of the Day

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09/25/2020 | 12:16am EDT
Lawmakers Offer Support for Fed's New Inflation Strategy 
 

The central bank last month changed the way it will implement its mandate from Congress, and lawmakers have no objection.

 
China's Bonds Win Third Key Index Inclusion 
 

FTSE Russell is set to add Chinese government debt to its key indexes, a move that could attract more than $100 billion of foreign capital.

 
Blank-Check Firms Under Regulatory Scrutiny 
 

The SEC chairman said the regulator is examining how sponsors of blank-check companies disclose their ownership and how any compensation is tied to an acquisition.

 
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

 
Stock Recovery Helps Fuel Alaska Permanent Fund's Private-Equity Rebound 
 

Public investments in Alaska Permanent Fund Corp.'s private-equity portfolio generated around $750 million of incremental gains between June 30 and late August, according to documents presented at the sovereign investor's Wednesday board meeting.

 
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.

 
Financial Services Roundup: Market Talk 
 

The latest Market Talks covering Financial Services

 
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.

 
 


Stocks mentioned in the article
ChangeLast1st jan.
HITACHI CAPITAL CORPORATION -2.60% 2327 End-of-day quote.-19.17%
MITSUBISHI UFJ FINANCIAL GROUP, INC. -0.88% 417.6 End-of-day quote.-29.60%
WELLS FARGO & COMPANY 1.20% 22.81 Delayed Quote.-57.60%
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