WASHINGTON, Feb 6 (Reuters) – Senator Dianne Feinstein of
California hopes to reinstate a hotly contested requirement for
big banks’ swaps trading after U.S. lawmakers voted in late 2014
to loosen the rules for Wall Street.
The so-called swaps “push-out” provision of the 2010
Dodd-Frank financial law required banks to conduct risky
derivatives trading in units separate from their deposit-taking
WASHINGTON (Reuters) – Two leaders in the U.S. House of Representatives said on Tuesday all children should be vaccinated, joining a debate that has become a national political flashpoint, as a measles outbreak rekindles a discussion on safety and the right of parents to forgo inoculation of their children.
“I don’t know that we need another law, but I do believe that all children ought to be vaccinated,” House Speaker John Boehner, a Republican, told reporters.
WASHINGTON, Jan 28 (Reuters) – U.S. regulators who want
banks to sever ties to risky customers must inform the banks in
writing, the Federal Deposit Insurance Corp said on Wednesday, a
change sought by Republican lawmakers scrutinizing a probe known
as “Operation Choke Point.”
The investigation by the U.S. Justice Department is aimed at
cracking down on fraud by looking into banks and payment
processors that work with businesses suspected of money
laundering and other illegal activities.
WASHINGTON (Reuters) – The U.S. Supreme Court on Tuesday declined to hear a challenge to controversial debit card “swipe fee” rules, dealing a blow to retailers, grocers and restaurant owners who argued the charges were unfairly high.
Businesses pay the fees to banks when customers use debit cards to purchase goods or services. The fees reimburse banks for costs involved in offering debit cards.
WASHINGTON, Jan 20 (Reuters) – The U.S. Supreme Court on
Tuesday declined to hear a challenge to controversial debit card
“swipe fee” rules, dealing a blow to retailers, grocers and
restaurant owners who argued the charges were unfairly high.
Businesses pay the fees to banks when customers use debit
cards to purchase goods or services. The fees reimburse banks
for costs involved in offering debit cards.
WASHINGTON, Jan 14 (Reuters) – Lawmakers in the U.S. House
of Representatives on Wednesday approved a bill scaling back the
2010 Wall Street financial reforms, an early victory that could
embolden Republicans to continue chipping away at the oversight
House Republicans view much of the Dodd-Frank law as
unworkable and an unnecessary burden on American businesses,
while many Democrats have vowed to defend it. In a mostly
party-line vote of 271 to 154, lawmakers voted to send the
measure to the U.S. Senate.
WASHINGTON, Jan 12 (Reuters) – Antonio Weiss, an investment
banker who was a controversial nominee for a top post at the
U.S. Treasury Department, has decided to withdraw from
consideration, the White House said on Monday.
Liberal lawmakers, led by Senator Elizabeth Warren of
Massachusetts, fiercely opposed Weiss’s nomination to the top
Treasury domestic finance job because of his work for investment
bank Lazard, which they viewed as proof of a revolving
door between Wall Street and the U.S. government.
WASHINGTON (Reuters) – A top Republican lawmaker on Monday urged the U.S. Consumer Financial Protection Bureau to abandon the renovation of its Washington building and find cheaper office space, a sign critics intend to keep up scrutiny of the agency this year.
House Financial Services Committee Chairman Jeb Hensarling said in a letter to bureau Director Richard Cordray that scrapping the renovation would save money.
WASHINGTON, Jan 12 (Reuters) – The White House warned on
Monday that President Barack Obama would veto Republican-backed
legislation in the U.S. House of Representatives that would
scale back financial reforms, including the Volcker rule.
Revamping the 2010 Dodd-Frank financial oversight law is a
top priority for Republican Party leaders, who took control of
both houses of the U.S. Congress this year following big wins in
November’s midterm elections.
WASHINGTON, Jan 7 (Reuters) – Republicans in the U.S. House
of Representatives failed on Wednesday to round up enough votes
for a bill scaling back various financial reforms, a surprising
defeat in an area conservatives hoped to prioritize this year.
Republican Party leaders brought forward numerous bills to
revamp financial reforms under President Barack Obama’s
Democratic administration and hoped to make more dramatic
changes after taking control of both houses of the U.S. Congress
in last November’s congressional elections.