Financial Regulatory Forum

FACTBOX-EU to improve protection of financial consumers

July 12 (Reuters) – The European Union’s executive put forward proposals on Monday to bolster consumer confidence through better and faster protection of investors who face a run on their bank or have been the victim of fraud.

The European Commission’s plans are part of wider efforts to learn from the financial crisis, in which the savings of millions of people were hit by extreme market volatility and some banks had to be rescued by taxpayers.

The Commission has proposed toughening EU rules that protect bank account holders and retail investors. It has opened a public consultation on improving how insurance policy holders are safeguarded.

The 27 EU states and the European Parliament have the final say on the proposals, which seek to encourage investors to save for their retirement and avoid taxpayers having to bail out banks again in any future crisis.

BANK DEPOSITS

* Under EU rules dating to 1994, all states must set up national deposit guarantee schemes to reimburse account holders up to a certain level if their bank runs into trouble.

FACTBOX-Winners and losers in the U.S. Senate’s financial bill

May 21 (Reuters) – The U.S. Senate on Thursday approved a bill that would overhaul the country’s financial system and usher in new rules for Wall Street.

While last-minute changes are still possible, below are some of the likely winners and losers under the bill.

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Bipartisan US financial reform deal uncertain – Sen. Dodd

By Kevin Drawbaugh

WASHINGTON, March 5 (Reuters) – Senator Christopher Dodd, chief negotiator for the Democrats in U.S. Senate talks on financial regulation reform, said on Friday he was uncertain whether bipartisan support for a compromise bill could be achieved.

With one of the Obama administration’s top domestic policy priorities in the balance, Dodd sounded wary but hopeful following weeks of discussions that have snagged on a proposal to create a new financial consumer watchdog.

“While we do not have a bipartisan agreement yet at all, we’re getting there, we’re trying. I don’t know if it will happen or not,” Dodd said in remarks on the Senate floor.

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