Shares in the financial sector treaded water as investors monitored events in the Middle East and indications that the U.S and Iran might return to full-scale war. Oil prices jumped igniting fresh worries about inflation.
A judge denied the owner of Zelle's attempt to dismiss a lawsuit from New York State Attorney General Letitia James that alleges the payments platform failed to protect its users from fraud. A New York state court judge said in a Monday decision that James adequately alleged that Zelle's parent company Early Warning Services prioritized accessibility, convenience, consumer adoption and market dominance at the expense of consumer safety, even after facing objections from its partner banks.
Banco Santander said it is on track to hit its targets, after customer gains and higher activity levels helped second-quarter net profit rise on year.
Moody's said the increasing buildout of data centers helped boost revenue in its investors-services business, leading to higher sales overall in the second quarter. The financial-ratings and analytics company posted a profit of $878 million, or $5.03 a share, in the quarter ended June 30, compared with $578 million, or $3.21 a share, a year earlier.
