* President Donald Trump is planning to nominate Fifth Third Bancorp Chief Legal Officer Jelena McWilliams to serve as chairman and member of the board of the Federal Deposit Insurance Corp.
* Barney Frank and Chris Dodd, the two lawmakers who authored the Dodd-Frank Act, argued that the law clearly intended to allow the Consumer Financial Protection Bureau's deputy director to serve as acting director, the American Banker reports.
* Talking about his possible replacement at Goldman Sachs, CEO Lloyd Blankfein raised the possibility of having co-CEOs, a "long tradition" at the company, Bloomberg News reports. Possible successors include Co-Presidents Harvey Schwartz and David Solomon.
* A recently announced partnership with PayPal will give a big boost to robo-adviser Acorns, S&P Global Market Intelligence predicts, putting it on pace to amass more than $2 billion in assets under management by 2018.
* Banco de Crédito e Inversiones is acquiring Banco Santander unit TotalBank for approximately $528 million.
* Verisk is buying PowerAdvocate, a solutions provider for the energy sector, for $200 million in cash and an earnout of up to $80 million.
* Walter Investment Management filed a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of New York.
* Insured losses in Georgia due to Hurricane Irma have risen to $670 million, reflecting 130,000 claims filed by residents, The Insurance Insider reports.
* Spanish insurer MAPFRE is streamlining its presence in the U.S. It is exiting five — New York, New Jersey, Kentucky, Tennessee and Indiana — of the 19 U.S. states it is currently in. It had hired an investment bank for the sale of unit MAPFRE Insurance Co. of New York.
The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription.
