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The Wednesday Express: North American financials


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The Wednesday Express: North American financials

* Phoenix-based Western Alliance Bank ($14.16 billion)is buying GeneralElectric Capital Corp.'s franchise finance U.S. hotel business.

* T.E. Wealth, a unit of iA Financial Group,acquired Doherty& Bryant Financial Strategists, a personal financial planning firm based inCalgary, Alberta.

* Arthur J. Gallagher & Co. unit Arthur J.Gallagher Risk Management Services acquiredContinuum Solutions Ltd., the InsuranceJournal reports.

* The State of Michigan Department of Insurance andFinancial Services liquidatedand discontinued the operations of Detroit-based Veterans Health AdministrationCredit Union.

* California Attorney General Kamala Harris and fivedistrict attorneys announced an $8.5million settlement with Wells Fargo Bank over accusations ofprivacy violations.

* Louis Bacon's Moore Charitable Foundation was theclient that Andrew Caspersen, formerly of PJT Partners, allegedly scammedfor $25 million, The New York Times' DealBook reports.

* The Government Accountability Office recommendedcongressional actionto change the mission or expand the powers of the Financial Stability OversightCouncil.

* The SEC said David Danon, a former lawyer ofVanguard Group, should qualify for U.S. whistleblowerprotections in connection with his wrongful termination lawsuit against thefirm, The Wall Street Journal reports.

* SJK Investment Management's former CEO, StanleyKowalewski, was sentencedto 18 years' imprisonment for wire fraud and obstruction of justice.

* The Depository Trust & Clearing Corp. andDigital Asset Holdings plan to developand test a distributed ledger-based solution to manage the clearing andsettlement of U.S. Treasury, agency and agency mortgage-backed repotransactions.

* And robo-adviser Betterment closed a $100million investment, led by a new partner, Kinnevik.

TheDaily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external linksmay require a subscription.