Financial Services

U.S. bank stocks dropped in August as interest rates slipped, and some money managers say lenders have farther to fall.

Many homeowners are expected to lack adequate insurance for repairing their damaged homes as standard policies do not cover flooding.

New York Fed President William Dudley was investigated this year for failing to disclose a relative’s employment at Wells Fargo and was cleared of any wrongdoing, the regional Fed bank said Friday.

Betterment LLC Chief Executive Jon Stein wants to use technology and automation to make investment advice and financial services broadly accessible while lowering the cost and removing compensation conflicts.

As life insurers raise rates on old policies, customers are pushing back with lawsuits. One trial involves “investor-owned” policies at a south Los Angeles church and allegations of unlawful use of racial data.

Low interest rates continue to weigh on the earnings of Germany’s small lenders, a survey from the country’s central bank and financial supervisor showed.

Critics of AmTrust Financial Services Inc., which is being probed by regulators and pressured by investors, are being approached by purported overseas consultants who aren’t always who they say they are.

Banks may take a short-term hit as Tropical Storm Harvey paralyzes parts of Texas, but analysts say that, as in previous storms, disruptions are likely to be modest and could even portend a longer-term pickup.

State officials are increasingly worried that this year’s turbulent health-care politics in Washington could threaten funding for the Children’s Health Insurance Program, a popular that usually wins broad bipartisan support.

The Advisory Board will be split up and sold in a deal worth around $2.21 billion, with its health-care business going to UnitedHealth and its education unit to private-equity firm Vista Equity Partners.

Shares of Hain Celestial rose 5% after the natural-food maker said it expects sales to rise next year despite a recent investigation into its accounting practices.

Home insurance doesn’t cover floods, but auto insurers will have to pay up for all of those sunken cars in Houston.

Hurricane will strain a National Flood Insurance Program out of step with needs of small businesses in era of extreme weather.

Property owners and retailers say lower tax bills, which are a large part of operating costs, will help keep them in business as retail sales and occupancy rates fall in may parts of the country.

Texas residents are starting to file insurance claims even as Tropical Storm Harvey lingers, but much of the damage could be excluded from insurance policies.

Short-term and other limited policies are quite often bad deals for the people who buy them.

Federal Reserve Chairwoman Janet Yellen defended the sweeping financial regulations enacted in the wake of the financial crisis that began a decade ago, while keeping the door open to modest changes to the postcrisis rules.