The U.S. Court of Appeals for the District of Columbia Circuit ruled that banks are exempt from a Federal Communications Commission regulation
For the 10th time since November 2017, Sen. Elizabeth Warren, D-Mass., penned a letter to Consumer Financial Protection Bureau Acting Director Mick Mulvaney asking for information and explanations for his "questionable actions" while running the bureau. In her 17-page letter, Warren wrote that while Mulvaney responded to her previous letters that requested information and explanations for his "questionable actions" while running the bureau, his answers are "almost entirely inadequate" and that he "ignored or provided evasive, misleading, or incomplete answers." The senator gave Mulvaney up to March 31 to respond with his answers to her 125 questions and requests.
And Sartaj Alag is set to leave his post as COO of the CFPB in April, Morning Consult reports.
In other people
Blackstone Group LP gave Stephen Schwarzman — its founder, chairman and CEO — new entitlements when he retires, including giving him free access to a car and driver for the rest of his life, reimbursing his travels on behalf of the asset management company and providing legal representation for company-related matters, The Wall Street Journal reports, citing a regulatory filing. For a decade after he dies, Schwarzman's estate will also be allowed to invest in or alongside Blackstone funds without fees as part of the new agreement between the company and Schwarzman, the report adds.
And in banking
In other parts of the world
Asia Pacific: China to name central bank governor; HSBC boosting Singapore ops
Europe: Deutsche Bank posts bigger FY'17 loss; UK banks to face tougher stress tests
Middle East & Africa: Dexia sells Israeli unit stake; Moody's cuts Oman; Mauritian president resigns
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng was up 0.04% to 31,513.76. The Nikkei 225 slid 0.90% to 21,480.90.
In Europe as of midday, the FTSE 100 declined 1.31% to 7,070.26, and the Euronext 100 lost 0.67% to 1,022.56.
On the macro front
There are no economic reports due out today.
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