News Highlights: Top Financial Services News of the Day
Citi's Lehman Settlement Closes Door on 2008 Post-Mortem
Citigroup will hand over $1.74 billion to walk away from disputes with now-defunct Lehman Brothers, a deal that cuts short an autopsy of the banks' crisis-era derivative-trading practices.
Regulators Disagreed Sharply on Freeing AIG of Federal Oversight
U.S. regulators disagreed sharply about whether to remove AIG from federal oversight, including over whether Friday's vote to release the company was legal, documents released Monday show.
Equifax's Ex-CEO to Outline Series of Mishaps That Led to Hack
A widespread breakdown in security safeguards at Equifax aided hackers as they broke into the company's systems and gained access to personal information of millions of Americans, according to prepared testimony former CEO Richard Smith plans to deliver Tuesday.
Wells Fargo CEO to Apologize for Scandal at Hearing
Wells Fargo Chief Executive Timothy Sloan is expected to apologize for the bank's phony-account scandal Tuesday and tell Senate lawmakers that his firm has rehired about 1,800 employees who left over shortcomings with its sales practices.
Goldman Sachs Weighs Trading Cryptocurrencies
Goldman Sachs is weighing a new trading operation dedicated to bitcoin and other digital currencies, the first blue-chip Wall Street firm preparing to deal directly in this burgeoning yet controversial market.
Hurricanes, Earthquakes Rack Up Huge Bill for Insurers
After a string of natural disasters, reinsurers and commercial insurers could charge customers more next time their policies come up for renewal.
International Paper to Transfer $1.3 Billion Pension Liability to Prudential
International Paper will reduce its pension liability by $1.3 billion through a pension-risk transfer, a maneuver used by companies with pension plans to limit their risk by transferring responsibility to an insurance company.
SEC Says Hackers Accessed Two People's Personal Information
Hackers who broke into a U.S. regulatory database that stores market-moving corporate information also accessed personal details about two people, including their names, dates of birth and Social Security numbers.