News Highlights: Top Financial Services News of the Day
Fed's Quarles: Bank Capital Levels Shouldn't Be Cut
Randal Quarles, the Federal Reserve's vice chairman for supervision, said the Fed doesn't plan to materially reduce capital levels in the banking sector as part of a review of its regulatory framework, but rather aims to make the rules more efficient.
MetLife Pension-Payments Executive Is Leaving Company
A senior MetLife executive in charge of a unit that failed to pay 13,500 retirees their pension benefits is leaving the company.
Fidelity Rethinks Its Stock-Picker System After Complaints
Fidelity Investments is rethinking the investment process that made its managers famous after the mutual-fund giant received complaints about alleged sexual harassment and other misconduct.
Anbang's Rescue Is China's Too-Big-to-Fail Moment
A Chinese government takeover of Anbang Insurance throws a lifeline to its policyholders-support denied to frustrated clients of some lesser-known financial firms when those companies hit turbulence before collapsing.
Choppy Markets Grant Hedge Funds Their Wish
Many hedge funds blamed their lackluster performance on central bank interference in markets. As such policies wind down, a turbulent start to 2018 has provided the kind of market conditions some of these funds crave.
Trump's SEC Makes Slow Progress on Trimming Rules
Jay Clayton, President Donald Trump's pick to lead the U.S. Securities and Exchange Commission, can point to a series of small, targeted actions aimed at easing the regulatory burden for companies nearly 10 months into his tenure.
Supreme Court Grills Both Sides in States' Challenge of American Express
American Express Co.'s card rules for merchants prompted strong reactions at the Supreme Court Monday, as the justices considered whether to revive a government antitrust lawsuit challenging the company's approach.
Bank of America Discovers the Buckeye State
Bank of America announced plans Monday to open its first branches in major metropolitan areas in Ohio as part of the bank's consumer unit's years-long expansion.
ECB's Draghi Says Stimulus Still Needed to Lift Inflation
European Central Bank President Mario Draghi on Monday said an ample degree of monetary stimulus remained necessary to lift inflation in the eurozone in line with its target.
Fed's Bullard Sees No Need to Raise Rates 'Substantially' Over Next Two Years
St. Louis Fed President James Bullard said he sees no need to raise the Fed's benchmark interest rate much over the next two years because economic factors holding growth low are unlikely to shift.
(END) Dow Jones Newswires
February 27, 2018 00:15 ET (05:15 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.