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The Friday Express: Morgan Stanley sued over alleged racial discrimination

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The Friday Express: Morgan Stanley sued over alleged racial discrimination

* The Commodity Futures Trading Commission ordered Deutsche Bank Securities to pay $70 million in civil monetary penalty for attempting to manipulate the U.S. Dollar International Swaps and Derivatives Association Fix benchmark.

* Some clients have withdrawn their investments from Wells Fargo's target-date funds, after the company switched to a more aggressive strategy, Reuters reports.

* A former Morgan Stanley broker is suing the company, alleging that he was discriminated against because he was black and the discrimination culminated in his dismissal in August 2016, Reuters reports.

* Infinity Bank is the second de novo bank to open in California this year.

* Following Blackstone Group's agreement to purchase a majority stake in Thomson Reuters' financial and risk business, Blackstone President Tony James said that the business' future is in selling data and not in selling terminal desktop products, Reuters reports.

* Former Valor FCU CEO Sean Jelen was sentenced to 70 months of imprisonment and four years of supervised release for bank fraud and attempted bank fraud. Jelen was also ordered to pay $694,971.88 in restitution.

* The Iowa Bankers Association has launched a campaign seeking to remove credit unions' exemption from taxes, CUtoday.info reports.

* The Centers for Medicare and Medicaid Services is proposing a 1.84% rate hike in Medicare Advantage payments for the 2019 plan year.

* The U.S. Justice Department has issued its second request for information on the pending deal between CVS Health and Aetna.

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