Financial Regulatory Forum

Obama, New York law chief Cuomo target Wall Street bonuses

By Reuters Staff
January 11, 2010

By Caren Bohan and Jonathan Stempel

WASHINGTON/NEW YORK, Jan 11 (Reuters) – The White House and and New York’s top prosecutor attacked excessive Wall Street bonuses, as the nation’s biggest banks prepare to hand out awards critics say were made possible by taxpayer bailouts.

New York Attorney General Cuomo seeks 2009 bonus data from Wall Street

By Reuters Staff
January 11, 2010

By Elinor Comlay and Jonathan Stempel

NEW YORK, Jan 11 (Reuters) – New York’s attorney general asked eight major U.S. banks to turn over data on planned bonuses for 2009, amid a growing public outcry over payouts in light of the industry’s role in the near-collapse of the financial system and recession.

REUTERS SUMMIT-Key banker sees cost of U.S. bank failures rising

By Reuters Staff
November 16, 2009

FDIC spokesperson Roberta Valdez shows identification to gain entry at a California National Bank branch in downtown Los Angeles October 30, 2009. The failed bank was seized by U.S. authorities and acquired by U.S. Bancorp. (File Photo) REUTERS/Sam Mircovich   (UNITED STATES BUSINESS) By Karey Wutkowski
NEW YORK, Nov 16 (Reuters) – The cost of U.S. bank failures will continue to rise sharply and will likely exceed the government’s current expectations, a leading investment banking executive said on Monday.

U.S. pay czar may issue rulings before Oct. 30 deadline

By Reuters Staff
October 21, 2009

By Karey Wutkowski
WASHINGTON, Oct 20 (Reuters) – The Obama administration’s pay czar said on Tuesday he may publicly release his rulings on the compensation packages for top earners at bailed-out firms before his Oct. 30 deadline.

US Congress to probe compensation at rescued companies

By Reuters Staff
October 14, 2009

WASHINGTON, Oct 14 (Reuters) – The U.S. Congress will soon probe executive compensation at companies such as American International Group Inc and Bank of America Corp receiving significant taxpayer funds, the chairman of the House Oversight and Government Reform panel said on Wednesday.
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Bank of America, U.S. SEC say execs not liable on Merrill bonuses

By Reuters Staff
September 9, 2009

Bank of America CEO Ken Lewis in this  February 11, 2009 file photo. Bank of America Corp shareholders voted to oust Lewis as chairman of the board on April 29, 2009 after months of mounting criticism of his stewardship of the largest U.S. bank. REUTERS/Larry Downing/Files By Jonathan Stempel
NEW YORK, Sept 9 (Reuters) – Bank of America Corp and the U.S. Securities and Exchange Commission made a third and perhaps final push to convince a federal judge to approve a settlement over the alleged misleading disclosure of Merrill Lynch & Co bonuses, saying executives should not be charged.

FDIC warns U.S. banks they may need more home-equity reserves

By Reuters Staff
August 4, 2009

By Jonathan Stempel
NEW YORK, Aug 3 (Reuters) – A U.S. regulator said on Monday banks may need to boost their reserves for losses on home equity loans, after housing prices fell by roughly one-third from their 2006 peak. (more…)

Bank of America board loses three more members

By Reuters Staff
July 31, 2009

NEW YORK, July 31 (Reuters) – Bank of America Corp said on Friday three directors had resigned, the latest in a series of departures at the bank at a time when it is shaking up its board at the behest of the government.
The largest U.S. bank said John Collins, who runs a Boston-based venture capital firm; William Barnet, who runs a real estate investment firm; and Gary Countryman, chairman emeritus of Liberty Mutual Group, had all resigned.