Goldman, Morgan Stanley Fined as Fed Ends Foreclosure Cases
Five banks were sanctioned and will pay a combined $35.5 million; one of the banks once run by Treasury’s Mnuchin, OCC’s Otting.
Mnuchin Warns Against Bitcoin Becoming the Next ‘Swiss Bank Account’
U.S. Treasury chief warns against a new 'Swiss bank account'; no concern about Russia’s use of virtual money.
JPMorgan’s Quarterly Tax Pain Should Lead to 2018 Gains
Bank could see earnings balloon by $3.5 billion based on cuts; trading revenue falls 26%, fueled by drop in fixed income.
Wells Fargo Earnings Take $3.25B Litigation Hit
The latest charge comes after a $1 billion expense in the third quarter; the bank is struggling to cut costs after consumer scandals.
IRS Can't Afford to Prep for New Tax Law: Taxpayer Advocate
Taxpayers seeking IRS guidance on tax law changes may be out of luck thanks to a massive funding shortfall, the Taxpayer Advocate office warns.
FINRA Plan to Rid BDs of Advisor Liability Would Hit Firms’ Fee Revenue
The plan is a “good-news, bad-news story,” recruiter Jon Henschen says.
SEC Fines Insurance Exec for Fraud; Says He Used Proceeds to Fund Dog Rescue Charity
In another enforcement action, the SEC charged a municipal advisor with defrauding a Mississippi city.
FINRA Arbitrator Pool Shows Slow, Steady Increase in Diversity
FINRA has greatly stepped up its efforts to recruit more women and minorities as arbitrators in the last two years, new data shows.
SEC Commissioners Peirce, Jackson Sworn In
They join the commission as the agency preps a fiduciary rule for brokers.
Chamber CEO Pledges to Push Bill to Rein In Regulators
Also, a long-awaited 5th Circuit fiduciary ruling is still “absolutely needed,” says Chamber's David Hirschmann.