Legal

Detroit City Council has rejected plans for a $350 million loan to help the cash-strapped city pay off some of its massive pension debt.

Insurer Prudential Financial said Friday it won't try to get regulators to reverse a decision that it is one of a group of financial companies so big that they could threaten the financial system if they were to fail.

A study of more than 1,600 arbitration cases over the past five years shows an alarmingly high rate of brokers who were able to get their arbitration histories wiped clean, according to a report by the Public Investors Arbitration Bar Association.

It all comes down to this: Follow the money.

Immigrant rights activists in Oregon are asking the city of Portland to stop buying bonds from Wells Fargo, which has a mutual fund with shares in a company that operates immigration detention centers.

The Financial Industry Regulatory Authority issued a report this week aimed at helping broker-dealers better avoid conflicts of interest.