Your Daily Dose of Financial News


More trouble for Wells Fargo, this time involving its Forex operation, which an internal investigation revealed was plagued by routine overcharging of customers and other questionable practices by bankers engaged in a battle for bonuses – WSJ

As expected, confusion reigned at the CFPB yesterday morning, with two acting directors reporting for the job. It appears that only one brought doughnuts – NYTimes and WSJ

The DOL has extended its implementation delay for its controversial fiduciary rule until July 2019, again raising speculation that the rule first announced in April 2016 will never take effect in current form – Law360

Breakingviews with further analysis on Meredith’s bid for Time Inc. – NYTimes

We’ve got a price tag on SoftBank’s Uber discount thanks to the ride-hailing company’s cyber breach and cover-up: about a 30% haircut – Bloomberg and NYTimes

Stocks reacted nicely to early reports about America’s cyber Monday buying – WSJ

Big news in the normally staid world of Swiss private banking, with Julius Baer CEO Boris Collari abruptly stepping down to join rival Pictet & Cie.’s global wealth management division – Bloomberg and Reuters

The Journal takes a look at a Chicago-based HFT firm that’s made the most of Wall Street’s reticence to embrace bitcoin and has traded more than $20 billion in cryptocurrencies in the past year alone – WSJ

Apparently testing the legal waters around the initial coin offering craze, an investor in the Tezos blockchain network has accused company execs of conducting a [blockbuster $232 million] ICO without first registering with the SEC – Law360

From one ginger to another (and for those die hard royal watchers—looking at you, Jason Pfeiffer), here’s wishing Harry and Meghan all the best – NYTimes