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The Friday Express: North American financials


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The Friday Express: North American financials

* Federal Reserve Bank of Dallas President Robert Kaplan said that three rate hikes is a "good base case" in 2017, adding that he did not rule out more hikes depending on the development of economic conditions.

* Speaking about the Dodd-Frank reform at the U.S. Chamber of Commerce yesterday, Sen. Pat Toomey, R-Pa. said that Senate Republicans are evaluating the tools at their disposal to overcome an unfavorable filibuster.

* Insurance company participation in the federal home loan bank system increased during 2016 even as a subset of the sector learned they would no longer be eligible for membership as soon as February 2017.

* A Manhattan district judge allowed five lawsuits against Wells Fargo to proceed, in connection with the bank's alleged failures as a trustee overseeing residential mortgage-backed securities, Reuters reports.

* Investment firm Pine Brook agreed to acquire Triumph Bancorp's credit investment unit, Triumph Capital Advisors.

* Oconee Federal Financial tapped former Greer Bancshares CFO, John Hobbs, as senior vice president and CFO of the company and unit Oconee Federal Savings and Loan Association, effective April 3.

* Navigators Group promoted CFO Ciro DeFalco to executive vice president.

* Marsh & McLennan appointed Daniel Farrell vice president and head of investor relations, effective May 1. He replaces Keith Walsh, who was named CFO of its risk and insurance services unit.

* Activist investor Sarissa Capital Management seeks pay cuts in Innoviva's CEO to below $500,000 per year and board members to below $200,000 per year.

* Meanwhile, the California State Teachers' Retirement System's unfunded liability went up to $97 billion from $76 billion, while its funding level dropped from 68% to nearly 64%, Reuters reports.

* HR and benefits startup Decisely secured $60 million in funding from Two Sigma Private Investments and EPIC Insurance Brokers and Consultants, a portfolio company of The Carlyle Group.

* And S&P Global Ratings revised the rating outlook on redomiciled Cardtronics to negative from stable and affirmed its BB+ corporate credit rating.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.

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