News Highlights: Top Financial Services News of the Day

12/13/2021 | 12:16am
Andrea Orcel
SEC Chairman on New Regulations on Cryptocurrencies and Climate Risk 

Gary Gensler also discusses possible new rules around human-capital disclosures.

SEC Investigates Private-Equity Firm Backed by Wealthy Families 

The SEC is investigating One Thousand & One Voices Management after receiving complaints that its owner was using investor funds to cover personal expenses, documents show.

Overdraft Fees Enrich Banks, and the Biden Administration Wants Less of That 

The head of the Consumer Financial Protection Bureau and other regulators are telling financial institutions to scale back fees for consumers who exceed their account balance.

Andrea Orcel Wins Case Against Santander 

Banco Santander must pay European banking heavyweight Andrea Orcel more than $75 million for reneging on a promise to name him chief executive.

Private Equity Faces Paying for Portfolio Company Misdeeds 

Private-equity firms are more often facing charges over the conduct of the companies they own, a break from precedent.

High Inflation Keeps Pressure on Fed to Dial Back Stimulus Faster 

The latest strong inflation report strengthens the case for Fed officials to agree next week to accelerate the wind-down of their stimulus efforts, clearing the way for them to potentially lift interest rates in the spring.

Financial Services Roundup: Market Talk 

The latest Market Talks covering Financial Services

SEC's Gensler Seeks to Level Playing Field Between SPACs, Traditional IPOs 

The SEC chief took aim at blank-check companies, saying they provide ordinary investors with incomplete information and insufficient protection against conflicts of interest and fraud.

China's Central Bank Is Under Pressure, but to What End? 

China's central bank is under increasing political pressure, but that probably doesn't spell an end to priorities like curbing the growth of bad debt.

Overdraft Scrutiny Can Be Opportunity for Lenders 

Banks that come up with new ways to provide credit and service customers beyond traditional fees could keep ahead of competitors.

(END) Dow Jones Newswires

12-13-21 0015ET

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