News Highlights: Top Financial Services News of the Day

03/07/18 04:15 PM EST
Fed Reports a Pickup in Wage Growth 

Employers across the U.S. said wage growth picked up since the beginning of the year, according to a Federal Reserve report released Wednesday, signaling the tight labor market may be forcing employers to beef up paychecks to compete for workers.

Donald Trump to Sign New Tariffs Proclamation This Week 

President Donald Trump will sign a proclamation to enact new tariffs on steel and aluminum this week, with "potential carveouts" for Mexico, Canada and possibly other countries, the White House said.

Otting Is Recused From Making Decisions on Five Banks 

Comptroller of the Currency Joseph Otting will "have to step out of the room" when regulators make decisions on five banks to which he has ties.

Charles Scharf Has Chance to Be the Best Leader at This Bank Since Alexander Hamilton 

Charles Scharf, who joined BNY Mellon in July, has laid off staff, consolidated office space and overhauled executive pay as part of broad overhaul. His challenge is to kick-start the bank that has been mired by slow growth and price wars.

Transcript: Lael Brainard Takes Questions From Money Marketeers 

Federal Reserve governor Lael Brainard discussed financial conditions, the Phillips curve, trade wars and the neutral rate of interest while taking audience questions after speaking to the Money Marketeers of New York University.

GOP Lawmakers Open to More Funding for CFTC 

House Republicans said they were open to providing more funding to derivatives regulators, a turnaround from just a year ago.

Banks Want a Bigger Piece of Your Student Loan 

The banking industry's main lobbying group is pressing for the federal government to instate caps on how much individual graduate students and parents of undergraduates can borrow from the government to cover tuition.

Fed's Bostic Says Trade Wars Aren't Easy and Winnable 

Atlanta Fed President Raphael Bostic warned that boosting trade barriers is unlikely to help the U.S. economy.

Indonesia to Turn Over Yacht in 1MDB Probe to FBI 

Indonesia will hand over to the FBI a $250 million yacht connected to a $4.5 billion fraud case centered on the Malaysian state fund 1MDB.

Wells Fargo Urged to Pause Growth of College Partnerships 

Wells Fargo is facing new scrutiny over its relationships with U.S. colleges, with a senior Democratic senator urging the bank to pause any expansion of its campus partnerships.


(END) Dow Jones Newswires

March 07, 2018 16:15 ET (21:15 GMT)

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