News Highlights: Top Financial Services News of the Day
Trump Administration Urges Judge to Reject Obama-Era Official's Attempt to Run CFPB
The Trump administration urged a federal judge to reject an Obama-era official's attempt to assert command over the Consumer Financial Protection Bureau, arguing in a court filing it had properly installed its own official to run the agency.
Fed's Harker: Banks Should Do More to Protect the Elderly
Federal Reserve Bank of Philadelphia President Patrick Harker said Tuesday financial institutions need to do more to ensure senior citizens aren't getting taking advantage of financially.
Powell to Face Questions on Future Fed Policy at Senate Hearing
Jerome Powell will face questions Tuesday about what direction he plans to take Federal Reserve policy in the years ahead, as the Senate Banking Committee holds a hearing on the Fed governor's nomination to be the next leader of the central bank.
Fed's Dudley: More Data Needed on Treasury Market Trading
Federal Reserve Bank of New York President William Dudley said U.S. regulators and the public would benefit from more information about trading in the U.S. Treasury bond market.
BOE Says British Banks Could Handle a 'Disorderly' Brexit
The U.K.'s largest banks could withstand Britain crashing out of the EU, the Bank of England said, but it raised wider concerns over how trillions of dollars' worth of derivatives contracts will be treated after Brexit.
Barclays at the Back of the Class in U.K. Stress Tests
Even though all seven banks passed, some will still face higher capital demands to counter a consumer credit boom in which they are systematically underestimating the risk of losses.
BOJ's Kuroda Dispels View That Policy Is Harming Lenders
Bank of Japan chief Haruhiko Kuroda rejected the view that commercial banks' basic functions have been compromised by the central bank's aggressive easing, a comment that may cool recent speculation of a possible shift toward tighter policy in Japan.
Bank of Korea Poised to Lift Rates
Korea is expected to become the first major Asian economy to raise interest rates since the Federal Reserve started two years ago, a reflection of global economic strength and Korea's role in the world's tech-supply chain.
Chinese Watchdog Renews Chase for Elusive Consumer Credit-Rating System
China's online-finance regulator plans to set up a personal credit-rating system, reinvigorating a three-year-long mission to find a homegrown answer to U.S. FICO scores as Beijing moves to clean up the country's internet lending sector.
Wells Fargo Bankers, Chasing Bonuses, Overcharged Clients
Employees say lofty rewards tied to revenue pushed foreign-exchange staff to ignore agreed-upon fees. Years of whispers were confirmed in a conference call.
(END) Dow Jones Newswires
November 28, 2017 11:15 ET (16:15 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.