Financial Regulatory Forum

Financial reforms win procedural vote in US House

By Reuters Staff
December 10, 2009

By Kevin Drawbaugh

WASHINGTON, Dec 9 (Reuters) – The U.S. House of Representatives approved a procedural rule on Wednesday that cleared the way for floor debate to begin on legislation that would give the government broad new powers over large financial firms and tighten bank and capital market regulation.

US senator offers ‘too big to fail’ bank break-up bill

By Reuters Staff
November 6, 2009

Senator-elect Bernie Sanders (I-VT) is interviewed by a Reuters reporter at Sanders' office in Burlington, Vermont November 28, 2006. (File photo) REUTERS/Brian Snyder    (UNITED STATES)   WASHINGTON, Nov 6 (Reuters) – Senator Bernie Sanders on Friday introduced legislation that would make the U.S. Treasury Department identify and break up financial institutions that are “too big to fail.”

US Rep Frank wants big banks to prepay resolution fund – aide

By Reuters Staff
October 30, 2009

U.S. Representative Barney Frank (D-MA), Chairman of the House Financial Services Committee, listens to a reporter's question during the Reuters Global Financial Regulation Summit in Washington, April 28, 2009.  REUTERS/Jonathan Ernst (UNITED STATES POLITICS BUSINESS HEADSHOT)   WASHINGTON, Oct 30 (Reuters) – U.S. Representative Barney Frank has changed his position and supports requiring large financial firms to make payments into a fund for unwinding troubled competitors before the money is needed, an aide said on Friday.

WRAPUP 1-Obama financial reforms advance in U.S. Congress

By Reuters Staff
October 28, 2009

Onlookers gather outside the historic Federal Hall where U.S. President Barack Obama is speaking in the heart of Wall Street in New York September 14, 2009. Obama, marking a year since Lehman Brothers collapsed, urged financial firms Monday not to fight regulatory reform and urged Congress to pass his proposals by the end of the year. (File Photo)     REUTERS/Larry Downing (UNITED STATES BUSINESS POLITICS)   By Kevin Drawbaugh
WASHINGTON, Oct 27 (Reuters) – The Obama administration made gains on Tuesday in its push for U.S. financial reform, unveiling a landmark bill to tackle systemic risk in the economy and winning congressional committee approval for a measure to expose hedge funds to more government scrutiny.The systemic risk bill would grant vast powers to a new systemic risk regulatory council, the Federal Reserve and the Federal Deposit Insurance Corp to monitor and address risks to economic stability posed by shaky financial holding companies.

White House, Congress Democrat bill urges new US powers over financial firms

By Reuters Staff
October 28, 2009

U.S. Treasury Secretary Timothy Geithner (R) talks with House Financial Services Committee Chairman Barney Frank on Capitol Hill in Washington March 24, 2009.  (File Photo)   REUTERS/Kevin Lamarque (UNITED STATES BUSINESS POLITICS) By Kevin Drawbaugh and Rachelle Younglai
WASHINGTON, Oct 27 (Reuters) – The U.S. government would gain far-reaching new powers to regulate, and even shut down, large financial firms that threaten economic stability under a draft bill released in Congress on Tuesday.

US Congress panel trims credit rating agency bill

By Reuters Staff
October 20, 2009

By Kevin Drawbaugh and Rachelle Younglai
WASHINGTON, Oct 20 (Reuters) – A U.S. congressional committee has dropped a key provision from a financial reform bill aimed at reducing investor reliance on credit ratings, according to draft legislation released on Tuesday.

U.S. House panel passes derivatives overhaul in big step for Obama

By Reuters Staff
October 16, 2009

By Kevin Drawbaugh and Charles Abbott

WASHINGTON, Oct 15 (Reuters) – The Obama administration scored its first financial regulation reform victory in months on Thursday when a U.S. congressional committee approved new regulations for over-the-counter derivatives.

US House panel approves new derivatives rules

By Reuters Staff
October 15, 2009

WASHINGTON, Oct 15 (Reuters) – New rules for the largely unpoliced, $450-trillion over-the-counter derivatives market were approved by a key U.S. congressional committee on Thursday in a win for the Obama administration.

US House to act on financial reform in November – Hoyer

October 6, 2009

House Majority Leader Rep. Steny Hoyer (file photo).  WASHINGTON, Oct 6 (Reuters) – The U.S. House of Representatives is expected to debate financial regulatory reform next month, Democratic leader Steny Hoyer said on Tuesday.