Financial Services News

Top Financial Services News of the Day

Visa, Mastercard, Amex to Track Gun Shops With New Merchant Code 

The move, a win for gun-control advocates, excludes firearms sales at big-box retailers.

Robinhood Index to Track Customers' Favored Stocks 

Robinhood Markets is offering a peek into the favorite stocks of its millions of predominantly young, social-media-savvy customers.

Fed Officials Back Another Large Rate Increase 

More U.S. central bankers appeared to support raising rates by another 0.75-percentage point later this month to combat inflation, firming up expectations of a third consecutive increase of that size.

Treasury to Warn of Crypto Risks 

The Treasury Department will lay out the risks it believes cryptocurrencies pose to consumers and the financial system in a series of reports set to become public this month.

Chinese Banks Lose a Mortgage Safety Net as Developers Slide Into Distress 

Real-estate firms in the country have written at least $300 billion in mortgage guarantees on uncompleted homes that they presold.

States' Probe of Celsius Network Alleges Huge Losses 

Vermont regulators cited testimony by Celsius’s chief financial officer in a recent meeting of creditors that the company’s insolvency started with financial losses in 2020, running through 2021, contradicting statements made by the company’s CEO.

Financial Services Roundup: Market Talk 

Find insight on mortgage borrowing, capital requirements on large banks, Southern States Bancshares and more in the latest Market Talks covering the Financial Services sector.

EY Leaders Green Light Split Plan 

The breakup of Ernst & Young’s auditing and consulting businesses will generate windfalls for the firm’s partners if successful.

Fed's Powell Affirms Need to Act Strongly on Inflation 

Central bank officials haven’t pushed back against expectations for a third consecutive 0.75-point rate increase later this month.

Judge Voices Skepticism of Antitrust Challenge to UnitedHealth Deal 

In closing arguments, a federal judge questioned the government’s effort to block the health insurer’s $13 billion acquisition of health-technology firm Change Healthcare.

(END) Dow Jones Newswires

09-12-22 0015ET

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