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News Highlights: Top Financial Services News of the Day

Bank of Korea Raises Benchmark Rate, Signals More Tightening 

South Korea's central bank raised its benchmark interest rate Thursday, its fifth rate increase since August 2021.

SEC Proposes More Disclosure Requirements for ESG Funds 

The agency votes to float plans to give investors more information on environmental, social and corporate-governance vehicles.

Fed Minutes Show Urgency for Raising Rates to Tame High Inflation 

U.S. central bankers at this month's meeting were in agreement on need for further half-point increases in June and July.

Lawmakers Scrutinize Credit-Reporting Companies 

Lawmakers are probing how Equifax, Experian and TransUnion dealt with consumer complaints about errors on their credit reports during the pandemic.

Cryptocurrency Companies to Remain in U.S. Law Enforcement Crosshairs 

Officials with the U.S. Justice Department and Commodity Futures Trading Commission say they will continue to home in on crypto.

Kansas City Fed Leader Esther George to Retire in January 

The Fed official will step down due to age limits on regional bank presidents.

Russia Bondholders Say Debt Default Could Already Be Here 

Russia could already be in default on some of its foreign currency debts, according to bondholders that claim they are still owed a small interest payment that Moscow didn't send to them earlier this spring.

Treasury to Study How Russians Could Use Hedge Funds, Private Equity to Evade Sanctions 

Brian Nelson, the top U.S. counterterrorism finance official, said the expanding list of sanctions against Russia highlights money-laundering risks for investment advisers.

Volt Capital Raises New $50 Million Crypto Fund 

As crypto reels, a new fund nabs five times the amount of its predecessor. 'Now's the time to be doubling down, amidst the market carnage,' a Volt co-founder says.

Insurance Providers Rethink Their Approach to Crypto 

More insurers are offering coverage to cryptocurrency companies, hoping to profit from the industry's rapid growth.


(END) Dow Jones Newswires

May 26, 2022 00:15 ET (04:15 GMT)

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