News Highlights: Top Financial Services News of the Day

11/25/2022 | 12:16am
Jeffrey Epstein Accusers Sue Deutsche Bank, JPMorgan 

Women who accused Jeffrey Epstein of sexual abuse are saying the banks facilitated his alleged sex-trafficking operation and ignored red flags about their wealthy client.

Sam Bankman-Fried Said He Would Give Away Billions. Broken Promises Are All That's Left. 

The FTX founder pledged to donate billions. His firm's swift collapse wiped out his wealth and ambitious philanthropic endeavors.

How Crypto's Collapse May Have Done the Economy a Favor 

Most creditors listed in bankruptcy filings of crypto platforms Voyage Digital Holdings, Celsius Network and FTX Trading are customers or crypto-related companies, highlighting the closed-loop nature of cryptocurrency.

Fed Minutes Show Most Officials Favored Slowing Rate Rises Soon 

A "substantial majority" of U.S. central bankers thought the pace of rate rises could slow down soon, the minutes show.

MUFJ to Acquire Home Credit Group's Southeast Asia Units 

Japan's Mitsubishi UFJ Financial Group will buy Dutch consumer finance company Home Credit Group BV's Indonesian and Philippine units for about EUR596 million in an effort to expand its retail business in Southeast Asia.

Biden Officials to Target Nonbanks for Tougher Oversight 

The move from the Financial Stability Oversight Council would likely ease or repeal Trump-era restrictions that sought to limit the regulation of nonbanks, according to people familiar with the process.

Credit Suisse Warns of $1.6 Billion Loss After Clients Pull Money 

The customer outflows come at a precarious time for Switzerland's No. 2 bank by assets, which weeks ago launched a sweeping overhaul of its operations.

New York Law Limits Cryptocurrency Mining 

The state is the first state to restrict cryptocurrency mining after Gov. Kathy Hochul signed a two-year moratorium on certain mining of cryptocurrency.

RBNZ Hikes Rate Sharply, Forecasts Recession 

UPDATED: The Reserve Bank of New Zealand raised its official cash rate by 75 basis points to 4.25%, in response to stubborn inflation pressures, ignoring recent signals from some its global peers that the pace of policy tightening could slow.

Sam Bankman-Fried Ran FTX Like a Personal Fiefdom, Lawyers Say 

In bankruptcy court, the crypto exchange's attorneys said a 'substantial amount' of the firm's assets are stolen or missing.

(END) Dow Jones Newswires

11-25-22 0015ET

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