Democrats on the House Committee on Oversight and Government are asking credit reporting agency Equifax Inc. to extend its free credit protection and identity theft service TrustID Premier to a minimum of three years instead of just one year. The lawmakers cited warnings from experts and consumer advocates that the one-year protection is inadequate as cyber criminals often wait much longer to use stolen information.
In the banking space, Morgan Stanley is giving some of its international wealth management clients 30 days to liquidate their accounts or transfer to another financial institution, Bloomberg News reports. It remains unclear why it made the decision and how many people were affected, although only a small percentage of relatively small international accounts were affected by the move, a source told the news agency.
Flagstar Bank FSB is buying a mortgage warehouse loan portfolio from Santander Bank NA in a deal that is expected to close within the quarter.
And in broker/dealer news, the U.S. Supreme Court rejected appeals to revive litigation accusing the government of overstepping its authority when it restructured Fannie Mae and Freddie Mac after the 2008 financial crisis, Reuters reports.
In other parts of the world
Asia Pacific: Thailand to issue ICO, cryptocurrency rules in March; ANZ faces lawsuit
Europe: Lloyds plans £1B share buyback; ABN Amro, BNP Paribas in Luxembourg deal
Middle East & Africa: Commercial Bank agrees to sell UAB stake; dividend rule hits Nigeria bank stocks
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng rose 1.81% to 31,431.89, and the Nikkei 225 increased 0.21% to 21,970.81.
In Europe, around midday, the FTSE 100 was down 0.14% to 7,236.82, and the Euronext 100 was down 0.37% to 1,017.62.
On the macro front
The Redbook, PMI Composite Flash, Existing Home Sales and FOMC Minutes are due out today.
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