News Highlights: Top Financial Services News of the Day

12/22/17 11:15 AM EST
CFPB Moves to Revise Rules on Prepaid Cards, Mortgage Data 
 

The Consumer Financial Protection Bureau said it is delaying the rollout of its prepaid-card rule and reconsidering aspects of a 2015 mortgage-data disclosure rule, one of the first formal efforts to undo Obama-era regulations under its new Trump-appointed acting director.

 
A Visit to the Latest Blockchain Stock: A Long Island Beverage Maker 
 

Long Island Iced Tea, founded in 2011 as a maker of such drinks as peach and lemon iced tea, became a different company, changing its name to Long Blockchain.

 
Watch Out VIX: Nasdaq Amps Up Volatility Game 
 

Nasdaq is working on launching futures and options linked to an index that uses a different way to track volatility in the S&P 500 than the popular VIX, Cboe's so-called fear gauge.

 
Brexit Bet Casts Dark Cloud Over Light Sky Hedge Fund 
 

A bad bet on Brexit has led to a painful December for one of this year's stand-out hedge-fund launches, the latest reflection of what is turning into another painful year for some of the industry's biggest names.

 
Bitcoin Plunges 25% in 24 Hours in a Cryptocurrency Market Rout 
 

The price of bitcoin tumbled sharply, wiping one-fourth of its market value in the past 24 hours alone, as a wave of selling hit the broader cryptocurrency market just before the Christmas holiday weekend.

 
TPG to Pay Nearly $13 Million Over Accelerated Monitoring Fees 
 

The Securities and Exchange Commission and private-equity firm TPG have agreed to a nearly $13 million settlement over TPG's failure to adequately disclose accelerated monitoring fees associated with three of its boom-era funds.

 
SEC Sues Woodbridge Ex-CEO Shapiro Over Alleged Ponzi Scheme 
 

The Securities and Exchange Commission has sued Robert Shapiro, accusing the former chief executive of Woodbridge Group of operating a Ponzi scheme that raised more than $1 billion from individual investors for the now-bankrupt real estate operation.

 
Cryptocurrency Founder Tries a New Play: Sell It All 
 

The creator of litecoin, one of the major cryptocurrencies that competes with bitcoin, said he sold his stake, a major about-face in a world often characterized by true believers and tech evangelists.

 
Fannie, Freddie Modify Repayment Agreements With U.S. 
 

Mortgage-giants Fannie Mae and Freddie Mac will retain some of their quarterly earnings as part of an agreement between the Trump administration and their regulator to allow them to build a small capital buffer against future operating losses.

 
The Internal Divide Behind Trump's CFPB Takeover 
 

Before the White House installed a chief who wants to dismantle the Consumer Financial Protection Bureau, the Treasury secretary and some finance companies sought a leader who would let the agency keep some teeth.

 
 

(END) Dow Jones Newswires

December 22, 2017 11:15 ET (16:15 GMT)

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