News Highlights: Top Financial Services News of the Day

02/01/18 12:15 AM EST
Fed Holds Rates Steady, Sees 'Solid' Economic Gains 
 

The Federal Reserve held short-term interest rates steady Wednesday and said it would continue along its path of gradual increases aimed at keeping the economy on track.

 
Appeals Court Rules CFPB Structure Is Constitutional 
 

A federal appeals court upheld the single-director structure of the Consumer Financial Protection Bureau, created after the financial crisis, but threw out the penalties it levied against a mortgage-service company.

 
PayPal Takes a Hit, Despite Soaring Profit 
 

PayPal Holdings said that fourth-quarter profit rose 59%, but the results were overshadowed by news that eBay, one of its biggest sources of customers, plans to replace PayPal as its primary payments processor.

 
SoFi Lays Off 5% of Staff 
 

Online lender Social Finance Inc. is laying off dozens of employees in its mortgage division, an area the company previously highlighted for its growth prospects, according to people familiar with the matter.

 
BNY Mellon Plans to Move Its Corporate Headquarters 
 

Bank of New York Mellon Corp. is moving its global headquarters for the second time in less than four years.

 
ECB Speeds Up Timetable for Stress Tests for Greece's Four Largest Banks 
 

The European Central Bank has accelerated the timetable for stress tests for Greece's four largest banks and will announce the results in May before the country's bailout expires.

 
Julius Baer's New CEO Aims for Expansion 
 

Bernhard Hodler is starting his tenure at the helm of Julius Baer Group mostly where his predecessor Boris Collardi left off: expanding the Swiss private bank.

 
JPMorgan Top Lawyer Decamping for Simpson Thacher Law Firm 
 

Stephen Cutler, a longtime top lawyer and senior executive at JPMorgan Chase & Co., is leaving the bank to join law firm Simpson Thacher & Bartlett LLP as a partner in New York later this year.

 
Liberty Mutual Shops $1 Billion in Private Equity, Real Estate 
 

Liberty Mutual Insurance is seeking bids on roughly $1 billion of its private-equity and real estate stakes, said people familiar with the matter.

 
How to Get Help With a Stock Buyback: Ask Blackstone 
 

Thomson Reuters is selling a majority stake in its declining terminals business, but the deal isn't straightforward.

 
 

(END) Dow Jones Newswires

February 01, 2018 00:15 ET (05:15 GMT)

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