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Friday Express: Malaysian finance minister wants $7.5B from Goldman Sachs

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Friday Express: Malaysian finance minister wants $7.5B from Goldman Sachs

* Malaysian Finance Minister Lim Guan Eng said Goldman Sachs should pay $7.5 billion in reparations over its alleged involvement in the 1Malaysia Development Bhd. scandal, Financial Times reports.

* A group of investors also filed a class action lawsuit against Goldman Sachs for its alleged involvement in the 1MDB scandal and for allegedly misleading and omitting statements related to its business with the Malaysian sovereign fund.

* Wells Fargo transferred a significant number of its jobs overseas, after cutting jobs in the U.S. throughout the year, The Charlotte Observer reports, citing the U.S. Department of Labor documents.

* In Georgia, CCF Holding is acquiring Heritage Bancorp and Providence Bank in an all-stock deal valued at approximately $105 million.

* Hillsboro, Ohio-based Merchants Bancorp is buying Logan, Ohio-based Citizens Independent Bancorp in an all-cash deal valued at $33.3 million.

* Javier Soler was appointed CEO for BBVA Compass and country manager for BBVA Group's U.S. operations.

* Total card payments, including credit card, non-prepaid and prepaid debit card payments, increased $500 billion to $6.5 trillion in 2017, according to the Federal Reserve.

* Several U.S. senators raised concerns over Robinhood Markets' newest product offering, which it rebranded after receiving backlash. In a letter to regulators, John Kennedy, R-La., said the rebranding may have just been a way to "circumvent regulatory scurtiny without offering full transparency to its customers."

* The House Financial Services Committee will conduct a hearing at 9 a.m. ET today to discuss the Bipartisan Housing Finance Reform Act of 2018.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.