* The International Monetary Fund warned that the recent tax cuts and higher government spending could increase the risk of a recession in the U.S. within the next couple of years.
* The Federal Reserve finalized a rule that would protect against contagion of credit risk among large banks.
* William Hinman, director of the Securities and Exchange Commission's division of corporation finance, said cryptocurrency ether is not a security and the agency is unlikely to consider regulating it.
* The Financial Supervisory Services is investigating Goldman Sachs International's Seoul branch over allegations of "naked short selling," The Korea Times reports.
* U.S. banks and thrifts reported $4.31 billion in noninterest mortgage income in the first quarter, up from $3.50 billion a year ago.
* First State Bank and Peoples State Bank, units of Brandon, S.D.-based Northeast Bancorp, are merging into Redwood Falls, Minn.-based Minnwest Bank, myKLGR.com reports.
* Blank check company Far Point Acquisition raised $632.5 million in its recently completed initial public offering.
* A federal appeals court ruled against a complaint filed by several health insurers, including Moda Health Plan and Land of Lincoln Mutual Health Insurance, who sought to recover $12 billion from the Affordable Care Act risk corridor program.
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