Bill Gross' Pimco Total Return Fund, the world's largest mutual fund, was the second-biggest decliner among the largest U.S. bond managers in the past month as clients pulled money for the first time in two years amid a sell-off in Treasuries.

Goldman Sachs Group Inc., which makes the most from equity trading of all Wall Street banks, is losing the head of a unit that invests in securities exchanges and two senior executives from its London equities division.

The Investment Company Institute has hired two executives on its government affairs team and promoted another person in the group.

The House Financial Services Committee chair also acknowledged that his capital-formation bill still faces a potentially tough Senate vote.

With the program set to expire July 31, the House bill will have to be reconciled with Senate legislation that includes a longer extension.

The Ohio company said low unemployment is keeping business clients from expanding, while higher asking prices are forcing it to avoid bank acquisitions.

The Federal Reserve and other central banks deciding whether to compete with private cryptocurrencies should heed the financial stability risks, such as expanding the economic power of governments and altering longstanding payments models.

Fraud detection and prevention technology must align with clear return policies and strong customer service ensuring that confused but loyal and well-intentioned customers can continue to purchase from merchants, says Ravelin's Mairtin O'Riada.

Bankers say the federal tax exemption for credit unions costs U.S. taxpayers $2 billion each year. But eliminating it would prevent the not-for-profit financial institutions from channeling their savings into higher rates and lower fees that stimulate commerce — and generate additional tax income.