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The Tuesday Express: PHH faces lawsuit over Ocwen deal; AXA Equitable closes IPO

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The Tuesday Express: PHH faces lawsuit over Ocwen deal; AXA Equitable closes IPO

* The Boston Retirement System is suing several financial institutions, including JPMorgan, Bank of America and Citigroup, over allegations that they conspired to fix prices for Mexican government bonds by rigging auctions, fixing spreads and selling bonds at artificially high prices.

* Former Federal Reserve Chairman Ben Bernanke and other former top economic officials endorsed the nomination of Richard Clarida to serve as the central bank's next vice chairman.

* The U.S. dollar will "remain the dominant currency" despite the rise of cryptocurrencies, St. Louis Fed President James Bullard said at CoinDesk's Consensus conference. He added that he doubts the Fed will introduce its own digital currency at this point.

* National Bank of Canada appointed Manuel Morales chief scientist of artificial intelligence.

* Charleston, S.C.-based Beacon Community Bank raised $34.1 million from a private placement, American Banker reports, citing a press release from its financial adviser, Community Capital Advisors.

* PHH Corp. is facing another lawsuit that aims to block the company's pending acquisition by Ocwen Financial.

* National Security Group posted first-quarter net income of $471,000, or 19 cents per share. The company said claim activity related to catastrophe events was significantly less in the recent quarter compared with the year-ago quarter.

* Axa completed the IPO of its U.S. subsidiary, AXA Equitable Holdings, booking overall proceeds of $4.02 billion.

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