News Highlights: Top Financial Services News of the Day - Tuesday at 4 PM ET

Justice Department Sues Visa, Alleges Illegal Monopoly in Debit-Card Payments 
 

The U.S.'s largest card network blocked rivals through payments and higher fees levied on merchants, the government says.

 
Commerzbank CEO to Step Down, Finance Chief Bettina Orlopp Named Successor 
 

The German bank said that early this month Manfred Knof informed Jens Weidmann, chairman of the supervisory board, of his decision not to seek a second term as the bank's CEO.

 
SEC Issues $88 Million Fine Against 12 Firms for Recordkeeping Failures 
 

The Securities and Exchange Commission said 12 firms agreed to pay combined civil penalties of $88.3 million for violating recordkeeping provisions as required by federal securities laws.

 
A Private-Equity Executive Pushes for Workers' Stake in U.S. Companies 
 

A co-head of KKR's global private-equity business wants to change a 1974 law governing employee stock-ownership plans.

 
Fed's Bowman says inflation remains a concern despite recent progress 
 

"While it has not been my baseline outlook, I cannot rule out the risks that progress on inflation could continue to stall," Fed Gov. Michelle Bowman said.

 
Bank of Canada Gov. Macklem Says Growth Needs to Accelerate to Maintain 2% Inflation 
 

Bank of Canada officials want growth to accelerate and absorb the sizable amount of spare capacity in the economy, Gov. Tiff Macklem said Tuesday, arguing this is a requisite to keep inflation at or near its current 2% level.

 
Italy's UniCredit Trades Blows With Berlin Over Commerzbank 
 

Germany's chancellor decried "unfriendly attacks" on banks after UniCredit moved to raise its stake in the lender.

 
Financial Services Roundup: Market Talk 
 

Find insight on Commerzbank, UniCredit, TISCO Financial Group and more in the latest Market Talks covering Financial Services.

 
Robinhood Touts Rock-Bottom Fees for Options Trading. Then Come the Hidden Costs. 
 

Customers using the platform face higher transaction costs than those of other brokers, a study finds.

 
Labor market is not 'flashing red,' two top Fed officials say 
 

Two top Federal Reserve officials on Monday said that they don't think the labor market is weakening dangerously - but the risk of further softening called for last week's half-point cut in the policy rate.

(END) Dow Jones Newswires

September 24, 2024 16:15 ET (20:15 GMT)

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