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The Monday Express: North American financials


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The Monday Express: North American financials

* President Donald Trump is planning to sign an executive order this week to repeal certain insurance rules under the Affordable Care Act, The Wall Street Journal reports. The order will direct federal agencies to pursue steps that would allow Americans who buy their own insurance or work for small businesses to be insured through "association health plans," a senior administration official told the WSJ.

* Puerto Rico bond insurers — including National Public Finance Guarantee Corp., Assured Guaranty Municipal Corp. and Assured Guaranty Corp. — have withdrawn without prejudice their lawsuit against the island's fiscal plan.

* CIT Bank is selling its reverse mortgage servicing business, Financial Freedom, and its reverse mortgage portfolio to an undisclosed buyer.

* Clatskanie, Ore.-based Wauna FCU has acquired Tri-City Insurance, The (St. Helens, Ore.) Chronicle reports. The insurance agency is now owned and operated by Wauna Services LLC.

* OneMain Financial Holdings is running an auction to sell itself, according to The Wall Street Journal sources. A deal could be worth around $4 billion or more.

* Beverly Hills, Calif.-based Pacific Western Bank paid nearly $1.8 million to settle allegations that First California Bank, which it acquired in 2013, facilitated a former Democratic campaign treasurer's embezzlement scheme, the Associated Press reports.

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