WASHINGTON, Sept 23 (Reuters) – U.S. regulators will meet next week to discuss how to rebuild the deposit insurance fund, which has been depleted by a sharp increase in bank failures, the Federal Deposit Insurance Corp said in an agenda notice on Wednesday.
FDIC to meet Sept. 29 on rebuilding insurance fund
Geithner open to changes in consumer finance watchdog
By Kevin Drawbaugh
WASHINGTON, Sept 23 (Reuters) – U.S. Treasury Secretary Timothy Geithner gave cautious support to paring back the scope of a proposed government agency to protect financial consumers, but argued forcefully on Wednesday for its creation.
U.S. won’t list systemically key firms – Geithner
WASHINGTON, Sept 22 (Reuters) – U.S. Treasury Secretary Timothy Geithner said in testimony prepared for delivery on Wednesday that the United States would not identify in advance financial firms that it views as systemically important.
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Top US lawmakers stress financial reform common points, delay seen
By Kevin Drawbaugh
WASHINGTON, Sept 22 (Reuters) – The U.S. Congress’ two top legislators on financial reform stressed their points of agreement on Tuesday, despite lingering differences and a prediction from one that the reform debate may be prolonged.
U.S. House ‘concept paper’ has mandatory OTC derivatives clearing
WASHINGTON, July 29 (Reuters) – The leaders of the two U.S. House committees overseeing U.S. securities and futures markets agree that over-the-counter derivatives should move onto regulated exchanges and go through clearing in most cases, according to a “concept paper” that will guide bill-drafting.
US push on derivatives market reform comes clearer
By Kevin Dr
awbaugh
WASHINGTON, July 27 (Reuters) – The shape of the U.S. government’s proposed crackdown on the $450-trillion over-the-counter derivatives market became clearer on Monday, with Congress poised to move forward this week on other aspects of a sweeping overhaul of U.S. financial regulation.
Democrats vow fight with banks over U.S. consumer protections
By Kevin Drawbaugh
WASHINGTON, July 22 (Reuters) – Congressional Democrats pledged on Wednesday to engage the banking industry in a summer-long debate over the Obama administration’s call for the creation of a U.S. Consumer Financial Protection Agency. (more…)
Delays drag as Obama financial reforms advance
By Kevin Drawbaugh
WASHINGTON, July 21 (Reuters) – The Obama administration’s plan to form a new Consumer Financial Protection Agency, a central part of its bold regulatory reform agenda, sailed onto the shoals of congressional delay. (more…)
Rep. Frank introduces U.S. consumer agency bill
By Karey Wutkowski
WASHINGTON, July 8 (Reuters) – The powerful chairman of the U.S. House of Representatives Financial Services Committee on Wednesday introduced legislation to create a new consumer financial protection agency that would strip some powers away from current regulators.
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U.S. lawmakers question Obama plan for consumer watchdog
By Diane Bartz
WASHINGTON, July 8 (Reuters) – President Barack Obama’s plan to create a single agency, the Consumer Financial Protection Agency (CFPA), to protect consumers dealing with the financial services industry got a skeptical reception in a House hearing on Wednesday. Democratic lawmakers questioned some elements of the proposal on the grounds that it took jurisdiction away from the Federal Trade Commission, which it oversees, while Republicans expressed concern about the expense of creating a new federal agency and the regulations it might impose. (more…)
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