The new financial reform bill introduced in the U.S. Senate will likely be approved at the committee level next week, but its shape could change substantially once it comes before the full Senate and winning Republican support comes into play, …
The Federal Reserve would gain new powers over non-bank financial firms and keep much of its authority over banks under a new bill to be unveiled on Monday by the U.S Senate’s architect of financial reform. In a turnaround for …
Wall Street’s chiefs acknowledged taking on “too much risk” and having “choked” on their own cooking, but stopped short of an apology as they sparred with a commission looking into the financial crisis. The first public hearing of the Financial …
Financial giants such as Goldman Sachs Group could be broken up under two bills introduced in the U.S. Congress Wednesday, one with the backing of former Republican presidential nominee John McCain. Both would reinstate the 1930s-era Glass-Steagall laws that barred …
The U.S. House approved the biggest changes in financial regulation since the Great Depression Friday, marking a win for the Obama administration and congressional Democrats. With the Senate due to debate similar reforms well into next year, the House voted …
Lawmakers in the House of Representatives voted Wednesday to give government regulators the power to break up financial firms that threaten economic stability, and to expose the Federal Reserve to unprecedented congressional scrutiny. In a milestone for the Obama administration’s …
The Obama administration made gains Tuesday in its push for U.S. financial reform, unveiling a landmark bill to tackle systemic risk in the economy and winning congressional committee approval for a measure to expose hedge funds to more government scrutiny. …
Credit rating agencies would be more tightly regulated and more exposed to lawsuits under legislation approved Wednesday by the U.S. House Financial Services Committee. In another procedural step forward for the Obama administration’s and congressional Democrats’ push for financial reform, …
A U.S. congressional committee has dropped a key provision from a financial reform bill aimed at reducing investor reliance on credit ratings, according to draft legislation released on Tuesday. The provision, first proposed by the Obama administration, calls for across-the-board …
U.S. Treasury Secretary Timothy Geithner argued forcefully Wednesday for creating a government watchdog for financial consumers, while giving cautious support to paring back its scope. Amid stiff resistance by banks and Republicans to the proposed Consumer Financial Protection Agency, Geithner …
