Emily's Feed
Aug 28, 2013

U.S. proposes relaxed ‘skin in the game’ mortgage rules

WASHINGTON (Reuters) – Six U.S. regulatory agencies released a reworked proposal on Wednesday that requires lenders maintain a stake in the loans they bundle and sell as securities, part of efforts to limit the type of underwriting practices which fueled the housing bubble.

But it also expanded the range of mortgages that would be exempt from the requirement.

Aug 26, 2013

Regulators, Bitcoin group discuss digital currency

WASHINGTON (Reuters) – U.S. regulators and law enforcement agencies met on Monday with an advocacy group for Bitcoin, a digital currency that has been under fire for its purported role in facilitating anonymous money transfers.

Jennifer Shasky-Calvery, director of the Financial Crimes Enforcement Network (FinCEN), said her unit hosted a presentation by members of the Bitcoin Foundation, an advocacy group of Bitcoin-related businesses.

Aug 26, 2013

U.S. regulators, Bitcoin group discuss digital currency

WASHINGTON, Aug 26 (Reuters) – U.S. regulators and law
enforcement agencies met on Monday with an advocacy group for
Bitcoin, a digital currency that has been under fire for its
purported role in facilitating anonymous money transfers.

Jennifer Shasky-Calvery, director of the Financial Crimes
Enforcement Network (FinCEN), said her unit hosted a
presentation by members of the Bitcoin Foundation, an advocacy
group of Bitcoin-related businesses.

Aug 26, 2013

Muriel Siebert, first woman to buy seat on NYSE, dies at 80

WASHINGTON (Reuters) – Muriel Siebert, the first woman to own a seat on the New York Stock Exchange, has died of complications from cancer, Leonard Leiman, a director at her firm Siebert Financial Corp., said on Sunday. She was 80.

The founder and president of Muriel Siebert & Co. Inc, Siebert purchased her seat on the exchange in 1967, nearly a decade before the next woman would join her there.

Aug 23, 2013

Fed says it does not object to new BB&T capital plan

WASHINGTON/NEW YORK (Reuters) – The Federal Reserve approved a revised capital plan for BB&T Corp for 2013, and the bank said on Friday that it is maintaining its current quarterly dividend.

With the approval, the only major U.S. bank whose plan has not yet been approved is auto lender Ally Financial, which earlier this week announced plans to sell shares to bolster its capital base.

Aug 21, 2013

Federal Reserve appeals ruling on swipe fee for debit cards

WASHINGTON (Reuters) – The Federal Reserve on Wednesday appealed a judge’s decision to reject the agency’s cap on debit card transaction fees, a controversial requirement of the 2010 Dodd-Frank law.

The Wall Street reform law ordered the Fed to limit “swipe fees,” or the fees banks charge merchants when customers use debit cards.

Aug 19, 2013

Obama asks regulators to speed up Wall Street reforms

WASHINGTON (Reuters) – President Barack Obama called top U.S. financial regulators to the White House on Monday, instructing them to speed up Wall Street reforms in the face of intense bank lobbying.

Roughly five years after the depths of the financial crisis, regulators have completed about 40 percent of the rules called for in the 2010 Dodd-Frank financial reform law.

Aug 1, 2013

Republicans say ex-staffers of consumer financial agency profiting

WASHINGTON, Aug 1 (Reuters) – Republicans in the U.S. House
of Representatives demanded information on Thursday about
several former top staffers of the Consumer Financial Protection
Bureau who the lawmakers say have turned their inside knowledge
of the agency into a lucrative business.

House Oversight Committee Chairman Darrell Issa of
California and Financial Services Committee Chairman Jeb
Hensarling of Texas sent the bureau a letter accusing former key
staffers of profiting from rules they helped write while at the
new consumer agency.

Aug 1, 2013

Republicans question former CFPB officials’ new advisory firm

WASHINGTON (Reuters) – Republicans in the House of Representatives demanded information on Thursday about several former top staffers who lawmakers believe have turned their inside knowledge of the Consumer Financial Protection Bureau into a lucrative business.

House Oversight Committee Chairman Darrell Issa of California and Financial Services Committee Chairman Jeb Hensarling of Texas sent the bureau a letter accusing former key staffers of profiting from rules they helped write while at the new consumer agency.

Jul 31, 2013

U.S. judge rejects Fed cap on debit card swipe fees

WASHINGTON (Reuters) – A U.S. judge has sided with retailers seeking a lower cap on fees charged by banks for debit card transactions in a key ruling that dragged down shares of card companies Visa Inc and MasterCard Inc.

Judge Richard Leon of the U.S. District Court for the District of Columbia ruled on Wednesday that the Federal Reserve had ignored Congress’ intent when it capped the fees banks charge to retailers when their customers use debit cards.