News Highlights: Top Financial Services News of the Day

11/23/17 12:15 AM EST
CFTC Reports Steep Drop in Enforcement Actions, Fines 
 

The Commodity Futures Trading Commission's enforcement actions and fines plunged in the first year of the Trump administration from a year earlier, when the figures were lifted by big settlements with banks.

 
Carl Icahn Buys Stake in SandRidge Energy 
 

Carl Icahn has purchased a 13.5% stake in SandRidge Energy Inc., joining a list of shareholders who say a deal the oil-and-gas producer struck last week for Bonanza Creek Energy Inc. makes little sense.

 
Consultant Finds Employee Discord at Office of Financial Research 
 

Many employees at the Office of Financial Research are unsatisfied with their agency's leadership and harbor concerns about mismanagement, according to a consultant's report.

 
China Wields Bigger Stick on Booming Little Lenders 
 

In its latest attempt to restrain the fast-evolving fintech sector, Beijing directed local governments to stop licensing providers of online microloans and to prohibit their operating outside the province where they are registered.

 
Long Island Town Charged With Securities Fraud 
 

The Securities and Exchange Commission on Tuesday charged the Long Island town of Oyster Bay with defrauding bondholders by failing to tell them about four private loan deals.

 
Banks Mustn't Set Up Shells if They Want to Retain EU Access, Say Officials 
 

European financial officials reiterated that banks and insurers shouldn't expect to set up letterbox firms in the European Union if they want to retain access to the bloc post-Brexit.

 
China's Online Lending Army Runs Into Beijing 
 

What could go wrong betting on fintech companies catering to China's increasingly affluent consumers? Quite a lot, it turns out.

 
Stop Using Excel, Finance Chiefs Tell Staffs 
 

CFOs say the ubiquitous spreadsheet software that revolutionized accounting in the 1980s hasn't kept up with the demands of contemporary corporate finance units.

 
Yellen Says She's Uncertain Weak Inflation Is Transitory 
 

The Federal Reserve is monitoring inflation closely given officials' uncertainty over whether the factors keeping it below their 2% target will prove endemic, Chairwoman Janet Yellen said.

 
Citibank Agrees to $6.5 Million Settlement Over Student Loans 
 

Citibank agreed to pay $6.5 million to settle accusations by the Consumer Financial Protection Bureau that it harmed people whose student loans it serviced, including by giving misinformation about a tax deduction.

 
 

(END) Dow Jones Newswires

November 23, 2017 00:15 ET (05:15 GMT)

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