Your Daily Dose of Financial News


Equifax is not exactly ending the week on a high note.  The credit reporting agency revealed yesterday that a cyberattack [uncovered nearly 2 months ago] rendered potentially vulnerable the  information of 143 million people. That staggering amount represents roughly half of all Americans – NYTimes and NBC and WSJ and Bloomberg and MarketWatch and Law360

And, it now seems that three company execs cashed in just shy of $2 million in stock mere days after the breach. They’ve claimed they didn’t know – Bloomberg

State Street will pay $35 million to resolve SEC probes over alleged overcharges due to secret markups – WSJ

BNY Mellon is celebrating an SJ win on many investor claims concerning the bank’s alleged failures as trustee of a series of RMBS trusts.  The failure of plaintiffs to satisfy the demanding loan-by-loan or trust-by-trust level of specificity was central to the Court’s reasoning – Law360

ECB chief Mario Draghi let it be known (in as definite of terms that we’ve heard so far) that the “cheap money era” in the Eurozone is coming to a close – NYTimes

Oh, Marty.  Probably best if you just shut it – Bloomberg and Law360

A depressing recap of Wells Fargo’s “Year of Scandal” – WSJ

Streetwise asks the question that markets seem not to want to think too hard about: if central bankers can’t figure out the inflation conundrum, why are we trusting their forecasts at all? – WSJ

Swedish bank Nordea has cited stringent state regulations as a reason it’s moving to Finland, but Breakingviews suggests that those regs are part of what makes Swedish banks so attractive as compared to their Eurozone peers – NYTimes

ICYMI, this account of Delta Flight 302’s race against Hurricane Irma is pretty remarkable – Wired

Have a good weekend,

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