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The Tuesday Express: CFPB acting director imposes hiring, regulations freeze

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The Tuesday Express: CFPB acting director imposes hiring, regulations freeze

* The Senate Committee on Banking, Housing and Urban Affairs today will hold the confirmation hearing of Jerome Powell as the next chairman of the Federal Reserve.

* On his first day as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney imposed a 30-day freeze on hiring, new regulations and on civil money penalty payments. The freeze takes effect immediately.

* Twenty-six current and former Democratic lawmakers filed an amicus brief arguing that CFPB Deputy Director Leandra English should serve as the bureau's acting director until a successor is confirmed by the Senate.

* Federal Reserve Bank of Minneapolis President Neel Kashkari praised President Donald Trump's selection of Randal Quarles as vice chairman of supervision and Jerome Powell as Fed chair nominee.

* Wells Fargo had been overcharging clients for foreign-exchange services they offered, sources for The Wall Street Journal say. Wells Fargo employees told the Journal that an internal review found that out of a total of about 300 fee agreements, only 35 companies were charged with the actual offered price for currency trade services.

* Toronto-based Bank of Nova Scotia, which posted a year-over-year rise in fourth-quarter EPS to C$1.64, is offering to buy Spain-based Bilbao Vizcaya Argentaria's 68.19% stake in Banco Bilbao Vizcaya Argentaria Chile and other related businesses for approximately $2.2 billion.

* In Illinois, Byline Bancorp is buying First Evanston Bancorp in a cash-and-stock deal valued at approximately $169 million.

* In Florida, FCB Financial Holdings is acquiring Floridian Community Holdings in an all-stock deal valued at around $88.1 million.

* TCF Financial will no longer offer indirect auto loan originations, effective Dec. 1.

* UnitedHealth Group projects net earnings per share of $10.00 to $10.30 in 2018, higher than the 2017 guidance of $9.45 per share.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription.