The House passed legislation this week that promotes new ways to clean up oil spills and aims to make deepwater drilling safer. The two measures responding to the BP oil spill in the Gulf of Mexico cleared the House by …
A federal judge has approved a $550 million settlement between Goldman Sachs and the U.S. Securities and Exchange Commission related to civil fraud allegations in a subprime mortgage product. U.S. District Court Judge Barbara Jones said she and the Southern …
President Barack Obama on Wednesday signed a sweeping overhaul of the financial regulatory system. The “Dodd-Frank Wall Street Reform and Consumer Protection Act,” drafted in response to the recent financial crisis, makes significant changes to financial services regulation. The 2,300-page …
The U.S. Securities and Exchange Commission said Friday it created three expert units to focus on big financial companies, complex securities and securities offerings. The new offices within the division of corporate finance largely mirror the industries and products that …
Goldman Sachs Group Inc. agreed to pay $550 million to settle civil fraud charges over how it marketed a subprime mortgage product, ending months of negotiations that rattled the bank’s clients and investors. The U.S. Securities and Exchange Commission said …
In a brief statement Lloyd’s of London officially welcomed the successful passage of the Dodd-Frank Act through the US Senate. Sean McGovern, Lloyd’s Director and General Counsel, stated: “We welcome the passage of the Dodd-Frank Act and look forward to …
The National Wildife Federation claims in a lawsuit that the Federal Emergency Management Agency’s flood insurance program is hurting sea turtles by spurring coastal development. The lawsuit filed in Miami federal court claims FEMA is violating the Endangered Species Act …
All 16 private insurance companies that participate in a federal crop insurance program have signed off on the new federal reinsurance agreement that cuts the subsidies they get by $600 million a year for the next 10 years. The insurers …
The nation’s top mine safety official urged quick passage this week of a bill that would crack down on mines with safety problems, despite industry complaints that the legislation is too punitive. Mine Safety and Health Administration director Joe Main …
U.S. Health Secretary Kathleen Sebelius, who has bashed insurers over rate increases, is seeking their help in making medical coverage accessible for more patients in the years before major reforms take effect. Sebelius, in an interview with Reuters, said she …
