Financial Regulatory Forum

Sen Dodd seeks more muscle in US financial reforms

Senate Banking Committee Chairman Sen. Chris Dodd listens to testimony at the Senate Banking Committee on Capitol Hill in Washington, July 23, 2009.      REUTERS/Larry Downing (UNITED STATES POLITICS BUSINESS) By Kevin Drawbaugh
WASHINGTON, Nov 10 (Reuters) – Pushing for tougher changes in U.S. financial regulations, the Senate’s top banking legislator on Tuesday proposed a new super-cop to police banks, a systemic risk agency and strong consumer protections.
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U.S. Senator Dodd to unveil financial reform bill on Tuesday

U.S. Senator Chris Dodd (D-CT) laughs at a joke told by President Barack Obama to the audience during a fundraiser for Dodd in Stamford, Connecticut, October 23, 2009.  REUTERS/Jason Reed   (UNITED STATES POLITICS) By Kevin Drawbaugh

WASHINGTON, Nov 9 (Reuters) – U.S. Senate Banking Committee Chairman Christopher Dodd will unveil long-awaited draft legislation on financial regulation reform on Tuesday, his office said on Monday.

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Obama administration praises early Senate financial bill

U.S. President Barack Obama (R) attends a fundraiser for U.S. Senator Chris Dodd (D-CT) in Stamford, Connecticut, October 23, 2009.    By Karey Wutkowski
WASHINGTON, Nov 3 (Reuters) – The chairman of the Senate Banking Committee is poised to release a draft bill on financial regulatory reform that meets many of President Barack Obama’s core goals, but it is unclear if it will gain any Republican support, an administration official said on Tuesday.

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U.S. financial reform faces Republican challenges

By Kevin Drawbaugh and Rachelle Younglai

WASHINGTON, Nov 2 (Reuters) – Key U.S. senators are still deeply divided on basic financial regulation reforms, making it unlikely a bill expected soon from Senate Democrats could become law this year, analysts said on Monday.

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Freeze U.S. credit card rates, says Sen. Dodd

The entrance to a Capital One Bank is seen in New York  August 17, 2009. Capital One Financial Corp's U.S. credit-card defaults and delinquencies rose in July, sending shares down 4.7 percent in premarket trading, as more Americans lost jobs and struggled to pay their debts.  REUTERS/Shannon Stapleton  (UNITED STATES BUSINESS)   WASHINGTON, Oct 26 (Reuters) – Senate Banking Committee Chairman Christopher Dodd said on Monday he was introducing legislation calling for a temporary freeze on credit card interest rates on existing balances. (more…)

U.S. bank industry groups oppose super bank cop

WASHINGTON, Oct 20 (Reuters) – Two major bank industry groups said on Tuesday they oppose a congressional proposal to consolidate federal banking supervision into one regulator. The American Bankers Association and the Independent Community Bankers of America jointly sent a letter to lawmakers saying that maintaining multiple federal regulators provides a helpful range of regulatory perspectives and is a healthy check against any one regulator neglecting its duties.

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Banks under fire in US Congress, Dodd targets fees

Senate Banking Committee Chairman Sen. Chris Dodd listens to testimony at the Senate Banking Committee on Capitol Hill in Washington, July 23, 2009.      REUTERS/Larry Downing (UNITED STATES POLITICS BUSINESS) By Kevin Drawbaugh
WASHINGTON, Oct 19 (Reuters) – Banks could not charge overdraft fees on cash-machine and debit-card transactions unless customers have opted in to an overdraft protection program, under a bill introduced in the U.S. Senate on Monday. (more…)

Bank of America pledges halt on card rate hikes

U.S. Senator Christopher Dodd (D-CT) (File Photo) WASHINGTON, Oct 6 (Reuters) – Bank of America said it will not change the terms on consumer credit card accounts ahead of reform legislation slated to go into effect early next year, according to a letter released by a lawmaker on Tuesday.

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Key US senator determined to create super bank cop

U.S. Senator Christopher Dodd (D-CT) speaks in front of his close friend Senator Edward Kennedy's casket during a "Celebration of Life Memorial Service" for Kennedy at the John F. Kennedy Library and Presidential  Museum in Boston, Massachusetts August 28, 2009. By Karey Wutkowski
WASHINGTON, Sept 29 (Reuters) – A senior U.S. Democratic senator said on Tuesday he is moving forward with his effort to consolidate bank supervision into a single federal regulator, despite criticism from current bank regulators who do not want to lose power.

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Top US lawmakers stress financial reform common points, delay seen

U.S. Senate Banking Committee Chairman Chris Dodd (D-CT)(R) and Chairman of the House Financial Services Committee Barney Frank (D-MA) speak after a news conference on Capitol Hill in Washington, November 20, 2008.  REUTERS/Jim Young (UNITED STATES)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.

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