News Highlights: Top Financial Services News of the Day
Ex-Executive at Deutsche Bank Accused in Subprime Loan Case
Federal prosecutors accused the former head of subprime mortgage trading at Deutsche Bank AG of misleading investors about loans backing $1.4 billion in securities issued in 2007, according to a fraud complaint filed in Brooklyn federal court.
Equifax Lobbied for Easier Regulation Before Data Breach
Equifax was lobbying lawmakers and federal agencies to ease up on regulation of credit-reporting companies in the months before its massive data breach.
Fintech Firm SoFi Says CEO Mike Cagney Will Step Down by Year-End
Social Finance Inc., one of the most highly valued private financial-technology startups in the U.S., said on Monday night that Chairman and Chief Executive Mike Cagney would step down by the end of the year.
George Soros Names New Acting Foundation Leader
Billionaire investor George Soros said Patrick Gaspard, a former U.S. ambassador to South Africa, will become the new acting president of his global foundation following the departure of Christopher Stone.
Catastrophe Bonds Avoid Direct Hit From Hurricane Irma
With damage estimates for Hurricane Irma tumbling, investors in "cat bonds" will likely avoid the significant losses they may have absorbed had earlier, more aggressive estimates borne out.
Putting a Freeze on Credit Thieves: A Look at Your Protection Options
Consumers who have been affected by the Equifax data breach and seek to protect their credit lines may find themselves navigating a confusing maze of new terms, costs and responsibilities.
Equifax Hack Could Slow Down Fast Loans
The goal of digital lending in recent years has been to make credit decisions quickly, and cheaply. The Equifax data breach could force some lenders to hit the brakes.
Goldman Sachs' Edith Cooper to Leave Firm
Edith Cooper, Goldman Sachs's head of human resources and one of the highest-ranking black women on Wall Street, is leaving the firm at the end of the year.
Irma Misses Insurers' Danger Zone
Hurricane Irma has left a trail of destruction across Florida. But loss estimates have fallen, benefiting insurers now but leaving a tough pricing trend in place.
Blackstone Prepares for IPO or Sale of Vivint
Blackstone is preparing for an initial public offering or sale of smart-home technology company Vivint, in what's shaping up to be a successful deal for the buyout giant.