The United States needs a council of regulators to oversee threats to the financial system, in addition to a regulator to supervise the largest financial institutions, the head of the U.S. Federal Deposit Insurance Corp said. In testimony prepared for …
Democrats in the U.S. House of Representatives Wednesday introduced legislation that would create a financial products watchdog to crack down on unsafe lending practices. Bill Delahunt of Massachusetts and Brad Miller of North Carolina introduced the bill to create a …
The U.S. Senate Banking Committee has scheduled a hearing on March 5 to examine government aid to insurer American International Group Inc, a source familiar with the hearing said Wednesday. Federal Reserve Board Vice Chairman Donald Kohn is among several …
A U.S. congressional panel postponed a Wednesday hearing on the Treasury Department’s use of a $700 billion financial bailout fund and priorities of president-elect Obama’s administration, the House Financial Services Committee said Monday. A reason for the postponement was not …
U.S. banking regulators said Friday they will seek to resolve rival acquisition proposals by Citigroup Inc and Wells Fargo & Co for Wachovia Corp. In a surprise announcement, Wells Fargo agreed to buy Wachovia for more than $16 billion, four …
U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke on Tuesday urged Congress to act swiftly on a proposed financial system bailout and warned of dire consequences if they delay. In prepared testimony that the two are scheduled …
