News Highlights: Top Financial Services News of the Day - Wednesday at 12 AM ET

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

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

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

The changes come as the German bank continues a battle with UniCredit over its future.

 
Private-Equity Deal for Smartsheet Could Signal a Rebound in Software Buyouts 
 

The deal with Blackstone and Vista Equity Partners values the work-management software provider at about $8.4 billion.

 
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.

 
SEC Issues $88 Million Fine Against 12 Firms for Record-Keeping Failures 
 

The regulator also highlighted factors that led to one firm receiving no civil penalty.

 
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.

 
Star FTX Witness Caroline Ellison Sentenced to Two Years in Prison 
 

Former crypto executive contributed to a multibillion-dollar fraud.

 
Justice Department Pushes Companies to Consider AI Risks 
 

Compliance officers should now add artificial intelligence to the list of things they need to worry about, the Justice Department says.

 
Financial Services Roundup: Market Talk 
 

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

(END) Dow Jones Newswires

September 25, 2024 00:15 ET (04:15 GMT)

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