Fed’s Harker says more oversight of fintech good for the industry

Philadelphia Federal Reserve Bank President Patrick Harker on Monday said he would be open to raising interest rates again at the U.S. central bank’s March meeting if growth in jobs and wages continues. “I still am supportive of three rate hikes this year, of course with a major caveat, depending on how the economy evolves and policy, fiscal policy, evolves,” Harker told reporters after a speech on the regulation of fintech firms.”

Power outages, flaring put Torrance refinery on hotseat for Wednesday AQMD hearing

Air quality regulators on Wednesday are scheduled to discuss an order requiring the owners of the Torrance Refinery to improve its electrical system after at least three power outages in the last year caused excessive flaring that sent thick black smoke belching across the city. The enforcement hearing hosted by the South Coast Air Quality Management District’s independent Hearing Board is set to begin at 9 a.m. in Diamond Bar.