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Thursday Express: Goldman gets show-cause letter over 1MDB; Wells boosts CEO pay

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Thursday Express: Goldman gets show-cause letter over 1MDB; Wells boosts CEO pay

* Malaysia's securities regulator issued a show-cause letter to Goldman Sachs, which is currently facing multiple probes over its alleged involvement in the 1Malaysia Development Bhd. scandal, Reuters reports.

* Wells Fargo President and CEO Timothy Sloan's compensation for 2018 increased by about 5% year over year to $18.4 million.

* Sen. Elizabeth Warren, D-Mass. along with several other Democratic senators reintroduced the American Housing and Economic Mobility Act after removing a requirement that credit unions be subject to the Community Reinvestment Act.

* Insurance brokerage firm Arthur J. Gallagher & Co. has acquired Cedar Rapids, Iowa-based Hammerberg Insurance Services, which does business as First Iowa Insurance Agency.

* The House Committee on Energy and Commerce has launched an investigation into business practices of insurance companies that sell or assist consumers in buying short-term, limited duration insurance healthcare plans, following an initial review that showed these companies discriminate against individuals with pre-existing conditions.

* The House Committee on Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets will conduct a hearing titled, "Putting Investors First? Examining the SEC's Best Interest Rule" at 9:30 a.m. ET today.

* And the Senate Committee on Banking, Housing and Urban Affairs will conduct a hearing titled, "Financial Stability Oversight Council Nonbank Designations" at 10 a.m. ET.

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.