Dodd snubs Shelby
By Kevin Drawbaugh
WASHINGTON, Feb 11 (Reuters) – In an unusual move that cut a senior Republican out of the loop, bipartisan U.S. Senate negotiations resumed on Thursday on financial regulation reform, a top priority of the Obama administration. (more…)
Jan 6 (Reuters) – The U.S. Senate will resume debate this
month on financial regulatory reform, but a handful of changes
some see as crucial are not on the table. (more…)
Dodd shaping up for the fight
By Kevin Drawbaugh
WASHINGTON, Jan 6 (Reuters) – As Round Two of the U.S. Congress’ punishing fight over financial regulation gets under way this month, one big question is whether Senate Banking Committee Chairman Christopher Dodd will lead with his left. (more…)
By Kevin Drawbaugh
WASHINGTON, Dec 10 (Reuters) – As the U.S. House of Representatives moved closer on Thursday to debating the most sweeping changes to financial regulation proposed since the Great Depression, a raft of late amendments were headed to the floor as lawmakers wrangled over the legislation.
The core bill would give the government new powers over large banks, regulate over-the-counter derivatives for the first time, and set up a Consumer Financial Protection Agency.
It would create an inter-agency council to police systemic risks in the economy and crack down on hedge funds and credit rating agencies, among many other reforms backed by the Obama administration and most Democrats.
Rep Bachus: Socialism
By Kevin Drawbaugh
WASHINGTON, Dec 10 (Reuters) – The U.S. House of Representatives will debate on Thursday the most sweeping changes to financial regulation proposed since the Great Depression, including broad new government powers over large banks and tighter regulation of capital markets. (more…)
WASHINGTON, Nov 23 (Reuters) – Congress next week will resume work on tightening bank and capital market regulation, with the House Financial Services Committee expected to vote on Wednesday on systemic risk legislation. (more…)
By Kevin Drawbaugh
WASHINGTON, Nov 18 (Reuters) – The U.S. Congress edged closer on Wednesday to creating new government powers to break up giant financial firms, which Europe is already doing, while a U.S. derivatives market crackdown got more complicated. (more…)
Banks blasted by Congress, regulators in U.S., UK
By Kevin Drawbaugh
WASHINGTON, Oct 22 (Reuters) – Big banks took a beating from government on Thursday, both in the U.S. Congress where lawmakers backed tougher industry rules, and from U.S. and UK regulators who moved aggressively to restrain bankers’ pay. (more…)
By Charles Abbott and Rachelle Younglai
WASHINGTON, Oct 7 (Reuters) – Congress’ chief architect on financial regulation said on Wednesday companies that use derivatives to hedge their risk would not be forced to comply with all the new rules for the $450 trillion private swaps market.
(more…)
By Kevin Drawbaugh
WASHINGTON, Sept 30 (Reuters) – The head of the Federal Reserve will step back from one of the most controversial parts of the Obama administration’s drive for financial regulation reform, saying sweeping new oversight powers proposed for the U.S. central bank should be shared with other regulators. (more…)
