Your Daily Dose of Financial News

Robins Kaplan LLP

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.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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