News Highlights: Top Financial Services News of the Day
Ex-Goldman Banker Tied to 1MDB Barred From U.S. Securities Industry
A former Goldman Sachs senior banker linked to alleged financial fraud involving Malaysian state fund 1Malaysia Development Bhd. was barred from the U.S. securities industry for failing to cooperate with a regulator's investigation.
End of the Social Security Number? A White House Official Thinks So
The Trump administration is exploring ways to replace the Social Security number with a safer system based on modern technology, the White House's cybersecurity coordinator said Tuesday.
SEC Weighs How to Protect Vast Trading Database From Hackers
U.S. regulators, already grappling with defending their systems against hackers, are taking a fresh look at how to protect a vast database of stock-market trades that promises to be an even bigger target of cyberthieves.
Lawmakers Slam Equifax Ex-CEO Over Hack
Former Equifax chief Richard Smith repeatedly told legislators Tuesday that he and other executives weren't aware of the significance of the company's data breach until weeks after it was detected in late July.
Regulators Fret About Cyber Risk After SEC Hack
A pair of top U.S. regulators called for increased attention to cyber risks to the financial system Tuesday in the wake of the hack of the Securities and Exchange Commission's corporate filing system.
Wells Fargo CEO Defends Bank on Capitol Hill
Wells Fargo & Co. Chief Executive Timothy Sloan defended the bank's handling of its sales scandal and more recent consumer problems as the executive faced some tough questions and one call for his departure.
Payday Lending Goes on Trial
A federal racketeering case against a Kansas City businessman and race-car driver who ran a $2 billion enterprise is intensifying focus on a sector that some describe as predatory and others defend as a vital service.
Why Emerging Markets Are Popping Despite the Risks
The amount of money flowing into emerging markets is set to top $1 trillion in 2017, the biggest flow of funds in three years, as economic growth in these countries and low returns in the developed world create a sweet spot for many developing nations.