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The Friday Express: North American financials


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The Friday Express: North American financials

* Synchrony Financial, Regions Financial, SunTrust Banks and Citizens Financial are reporting their quarterly results today.

* The Department of Labor has issued a proposed rule that would make it easier for larger insurance intermediaries and agents to sell fixed-annuity products on commission. The rule is a class exemption to the DOL's fiduciary rule.

* After taking office today as president, lobbyists are expecting Donald Trump to swiftly roll back the Obama administration's policies and set the course for his administration, The Wall Street Journal reports.

* In a letter to 33 financial firms, Sen. Elizabeth Warren, D-Mass., asked them to resist possible Trump administration efforts to delay DOL's fiduciary rule, the Journal reports.

* Speaking during his confirmation hearing to be secretary of the U.S. Treasury, Steven Mnuchin said that the government should not have statutory mechanisms for bailing out large banks in place of bankruptcy.

* Meanwhile, the Treasury Department has appointed its Acting Under Secretary Adam Szubin to serve as Acting Secretary.

* Anthem, including Empire BlueCross BlueShield, will no longer require prior authorization for medication-assisted treatment for opioid use disorder, New York Attorney General Eric Schneiderman said.

* A group of fintech companies launched the Consumer Financial Data Rights, a new industry group supporting consumers' right to innovative products and services that improve their financial well-being and are powered by unfettered access to their financial data.

* Wells Fargo has set up the Office of Ethics, Oversight and Integrity that will be led on an interim basis by Theresa LaPlaca, a senior leader in wealth and investment management.

* Additionally, the San Francisco-based company named Richard Yorke COO for its reorganized wholesale banking arm, which will incorporate its international group business.

* And while discussing their "two-stage Brexit plan," senior U.S. bankers told the Financial Times that their initial steps would be to avoid moving thousands of jobs out of the U.K.

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