News Highlights: Top Financial Services News of the Day

03/16/2021 | 11:16pm
Greensill-Owned Bank Declared Insolvent, Causing Losses for Small German Towns 
 

Local governments deposited money at the lender to escape negative interest rates at their usual banks.

 
NatWest Faces U.K. Criminal Charges in Money-Laundering Case 
 

The Financial Conduct Authority has filed criminal charges against U.K. bank National Westminster Bank for allegedly failing to prevent money laundering.

 
Westpac to Combine Consumer, Business Divisions 
 

Westpac Banking Corp. will combine its consumer and business operations into one unit in a move that Chief Executive Peter King said will cut costs.

 
Crypto Holders Want Former Cred Executive Behind Bars 
 

Creditors of cryptocurrency platform Cred Inc. called for the arrest of a former executive identified in court papers as a U.K. fugitive, arguing he should do jail time unless he returns the bitcoin and other assets he allegedly took from the bankrupt company.

 
EToro to Go Public in SPAC Merger Deal 
 

The trading platform operator says it will combine with FinTech Acquisition Corp. with an implied value of $9.6 billion.

 
Greensill Capital Is Sued for Fraud 
 

The suit by Bluestone Resources, a coal-mining company owned by West Virginia's governor, is tied to a $850 million loan from the troubled U.K. financial firm.

 
Visa, Mastercard Delay Credit-Card Swipe Fee Increases 
 

The companies said they will hold off on increasing interchange fees for merchants until next April after their plans drew criticism from lawmakers.

 
Tidal Wave of ESG Funds Brings Profit to Wall Street 
 

Socially focused exchange-traded funds give asset managers higher fees in a low-fee industry.

 
Fed Seen Standing Firm on Interest Rates as Economic Outlook Brightens 
 

Federal Reserve officials will likely note an improving economic outlook at their policy meeting this week, while also stressing that it is too early to change their plans on interest rates and bond purchases.

 
Cathie Wood Persuades Investors to Stick With ARK's ETFs 
 

The stock picker uses TV interviews and YouTube videos to put investors at ease amid a volatile period for her investment funds.

(END) Dow Jones Newswires

03-17-21 0015ET

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