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The Tuesday Express: 2 Calif. banks merging; Point72 hit with lawsuit

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According to Market Intelligence, December 2022

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The Tuesday Express: 2 Calif. banks merging; Point72 hit with lawsuit

* The Consumer Financial Protection Bureau released a strategic plan that aims to regulate financial products under existing law, as opposed to pursuing new enforcement actions and policies.

* In California, Mechanics Bank is buying Learner Financial and unit Scott Valley Bank.

* An affiliate of Privet Fund Management is acquiring Hardinge for about $245 million.

* Steven Cohen's Point72 Asset Management is facing a lawsuit accusing the company of creating a toxic working environment for women, The New York Times reports.

* Equifax appointed Jamil Farshchi chief information security officer.

* In his proposed budget plan for fiscal year 2019, President Donald Trump has called for cutting about $237 billion in Medicare spending as well as ending the Affordable Care Act's expansion of Medicaid.

*And the estimated insured losses resulting from Hurricane Irma in Florida as of Feb. 9 have totaled roughly $7.95 billion, according to the latest data from the state's Office of Insurance Regulation.

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