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The Friday Express: North American financials


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The Friday Express: North American financials

* President Donald Trump is planning separate executive actions to revise the 2010 Dodd-Frank Act and the Department of Labor's Conflict of Interest Rule, The Wall Street Journal reports, citing an interview with White House National Economic Council Director Gary Cohn.

* The U.S. Court of Appeals denied the requests to intervene filed by several state attorneys general, Democratic lawmakers and consumer groups in a lawsuit challenging the constitutionality of the Consumer Financial Protection Bureau.

* Seven Republican lawmakers introduced a resolution to scrap the CFPB's new federal rule relating to prepaid accounts.

* Cerberus Capital Management LP co-founder and CEO Stephen Feinberg, who currently serves on Trump's economic advisory council, is in talks with the White House about taking a senior position in the administration, The Wall Street Journal reports, citing a memo sent to the private equity firm's investors.

* Morgan Stanley and Goldman Sachs are acting as representatives for the underwriters of the $3 billion initial public offering of Snap, the parent of Snapchat. Underwriters include JP Morgan Securities, Deutsche Bank Securities, Barclays Capital Inc., and Credit Suisse Securities (USA).

* In Illinois, MidAmerica National Bank is set to acquire Henry State Bank.

* JPMorgan Chase & Co. named Frank Pearn chief compliance officer, succeeding Lou Rauchenberger who will hold a new senior regulatory position, WSJ reports, citing an internal memo.

* Group Health Cooperative CEO Scott Armstrong stepped down after Kaiser Permanente completed its acquisition of the cooperative, the Seattle-based Puget Sound Business Journal reports, citing a spokesman.

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