Financial Services Oversight Rules Possible This Week
The Federal Reserve is expected to release this week a highly anticipated proposal for how it will oversee the largest U.S. banks, a person familiar with the plan said on Monday. The proposal, which...
View ArticleFed Proposes Rules to Restrain Wall Street Risk-Taking
The Federal Reserve proposed new rules on Tuesday to restrain risk-taking by the largest U.S. banks as it tries to make the financial system more resilient against future crises. The proposal, required...
View ArticleSEC Weighs Exempting Insurance Companies from Volcker Rule
The top U.S. securities regulator said on Tuesday her agency is exploring whether insurance companies can qualify for a coveted exemption in the proposed Volcker rule that would protect them from...
View ArticleCitigroup CEO, Directors Sued Over Executive Pay
Days after being rebuked by shareholders, Citigroup Inc. Chief Executive Vikram Pandit and the bank’s directors have been sued by a shareholder accusing them of awarding outsized pay to top executives....
View ArticleLawsuit Seeks to Curb Powers of New Federal Consumer Financial Board
A small bank and two conservative advocacy groups said on Thursday that they would file a lawsuit against the new Consumer Financial Protection Bureau, challenging what they call the agency’s...
View ArticleDerivative Reform to Be Finalized This Week
The U.S. swaps regulator is set to finalize this week a critical reform that will trigger banks and traders having to comply with costly new derivatives rules. The Commodity Futures Trading Commission...
View ArticlePawlenty to Head Financial Services Roundtable
Former Republican presidential hopeful Tim Pawlenty will become the head of the Financial Services Roundtable, a U.S. financial services lobbying group that represents JP Morgan Chase & Co. and...
View Article3 States Join Lawsuit Challenging Dodd-Frank Law
Three U.S. states have joined a lawsuit that challenges the constitutionality of the 2010 Dodd-Frank law that overhauled U.S. financial oversight and created the Consumer Financial Protection Bureau....
View ArticleFormer FDIC Chair Bair Reveals Financial Bailout Details in Book
When Sheila Bair showed up for a meeting in then-Treasury Secretary Hank Paulson’s office in October 2008, the bank regulator had no idea she was about to be asked to guarantee the debts of the entire...
View ArticleDodd-Frank Council to Proceed with Picking ‘Systemic’ Nonbank Firms
The Financial Stability Oversight Council voted to move a group of non-banking financial companies forward in a process that will determine whether they are so big their failure would destabilize the...
View ArticleAIG Targeted as Likely ‘Systemically Important’ Financial Firm
Insurance giant American International Group Inc. said that it has received a notice from the Financial Stability Oversight Council (FSOC) that it is under consideration as a “systemically important...
View ArticleRep. Frank Defends JPMorgan Against Lawsuit Over Bear Stearns
Democratic Congressman Barney Frank defended the nation’s largest bank on Monday, saying in a statement that the government was wrong to go after JPMorgan Chase & Co. for the alleged misdeeds of...
View ArticleRules for Dodd-Frank Top Republican House Agenda
Republicans in the U.S. House of Representatives are gearing up to overhaul the housing finance system this year and will soon map out ways to monitor Wall Street reform rules, according to a draft...
View ArticleFed Approves Process for Designating Nonbanks for Stricter Oversight
The U.S. Federal Reserve said on Wednesday that it had approved a final rule to clarify the process the new U.S. risk council will follow when it begins designating nonbank financial firms for...
View ArticleReport: U.S. Making Progress Against ‘Too-Big-to-Fail’ Bailouts
For the past year, a special team of U.S. bank regulators has been on a quiet mission to end the belief on Wall Street that large banks are “too big to fail.” The team from the Federal Deposit...
View ArticleMetLife to Sue to Overturn Systemically Risky Designation
MetLife Inc. said it will sue in federal court as part of Chief Executive Officer Steve Kandarian’s effort to overturn a finding that the insurer is systemically important. A complaint will be filed...
View ArticleFinancial Services Oversight Rules Possible This Week
The Federal Reserve is expected to release this week a highly anticipated proposal for how it will oversee the largest U.S. banks, a person familiar with the plan said on Monday. The proposal, which...
View ArticleFed Proposes Rules to Restrain Wall Street Risk-Taking
The Federal Reserve proposed new rules on Tuesday to restrain risk-taking by the largest U.S. banks as it tries to make the financial system more resilient against future crises. The proposal, required...
View ArticleSEC Weighs Exempting Insurance Companies from Volcker Rule
The top U.S. securities regulator said on Tuesday her agency is exploring whether insurance companies can qualify for a coveted exemption in the proposed Volcker rule that would protect them from...
View ArticleCitigroup CEO, Directors Sued Over Executive Pay
Days after being rebuked by shareholders, Citigroup Inc. Chief Executive Vikram Pandit and the bank’s directors have been sued by a shareholder accusing them of awarding outsized pay to top executives....
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