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OppenheimerFunds is paying $100 million to settle a class-action lawsuit against two of its funds, the Oppenheimer Champion and the Oppenheimer Core Bond funds

As the nation reaches the Aug. 2 deadline to raise the debt ceiling, Fidelity Investments is telling investors not to panic-sell out of stock and bond funds, and to have confidence in money market funds, which have been safeguarded and have complied with stricter holding rules for the past year.

Putnam Investments is becoming a key sponsor for Gillette Stadium, home of the New England Patriots football team, replacing Fidelity Investments. As part of the deal, Putnam’s name will replace Fidelity’s on two 3,000-seat luxury clubhouses, the roadway leading in, the entrance and a parking lot. As a result, “Fidelity Way” will become “Putnam Parkway” and the stadiums will be called the “Putnam Club.”

A majority, 63%, of middle-class Americans thinks that the U.S. is in a double-dip recession, the First Command Financial Behaviors Index shows. Fifty-percent thought the U.S. had reverted back into recession last summer.

Fifty-five percent of men focus on planning their financial health at least once a week, compared to 42% of women, a survey by Genworth found. Nonetheless, more women than men believe financial well being is critical to maintaining a balanced life.

European hedge fund advisors will soon be faced with the same challenges – and requirements – as their U.S. peers.

European hedge fund advisors will soon be faced with the same challenges – and requirements – as their U.S. peers.

Outflows from long-term funds totaled $4.58 billion in the week ended July 20, the Investment Company Institute said.

MassMutual has made a number of enhancements to its RetireSMART target-date and lifecycle funds, most notably adding mutual fund options to its target-date series. Previously, only separately managed accounts through a group annuity contract were offered as target-date funds.

The Senate Banking Committee will hold a hearing next Thursday on the nomination of Richard Cordray to head the Consumer Financial Protection Bureau.