Financial Regulatory Forum

U.S. financial crisis panel sets first hearings

WASHINGTON, Dec 22 (Reuters) – A U.S. commission created by Congress to investigate the financial crisis has scheduled its first public hearings for Jan. 13 and 14, more than a year since the crisis shook banks and capital markets worldwide.

No witnesses were named by the Financial Crisis Inquiry Commission in a statement distributed on Tuesday. It said the 10-member panel will hold hearings throughout 2010 — a period in which the Senate will be debating regulatory reforms.

Deliberations by the commission could spark interest in the debate in the Senate Banking Committee over reforms. The House of Representatives on Dec. 11 approved a comprehensive bill to tighten government bank and financial market oversight.

In September, inquiry commission Chairman Phil Angelides told Reuters that former Treasury Secretary Henry Paulson might be among witnesses called to testify.

He said the panel had a short list of possible witnesses, including executives from Lehman Brothers, Bear Stearns and Merrill Lynch, as well as Fannie Mae, Freddie Mac and AIG.

U.S. House Democrats sharpening ‘too big to fail’ plan

U.S. Representative Barney Frank (D-MA) holds a news conference on issues before the House Financial Services Committee on Capitol Hill in Washington, November 3, 2009.  REUTERS/Jonathan Ernst    (UNITED STATES POLITICS BUSINESS) By Kevin Drawbaugh
WASHINGTON, Nov 17 (Reuters) – A key U.S. congressional panel moved toward toughening a plan for dealing with “too big to fail” financial firms on Tuesday, while rejecting a Republican alternative backed by Wall Street.

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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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Big-bank containment strategy catches on in US, EU

By Kevin Drawbaugh
WASHINGTON, Nov 3 (Reuters) – The government should be able to restrict the size of financial firms so they do not become “too big to fail,” two key U.S. Democratic lawmakers said on Tuesday, echoing proposals being made in Europe.

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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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Republican U.S. Sen Shelby sets down financial reform markers

U.S. Sen Richard Shelby (R-AL) makes a point while taking questions at the Reuters Financial Regulation Summit  in Washington, April 24, 2009. REUTERS/Stelios Varias (UNITED STATES POLITICS BUSINESS)   WASHINGTON, Nov 2 (Reuters) – The top Republican on the U.S. Senate Banking Committee wants a bipartisan deal on financial regulation reform, but sees numerous basic issues as still open to debate, an aide told Reuters 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…)

Reuters Summit-Geithner: Obama team to toughen ‘Too big to fail’ fix

By Karey Wutkowski
WASHINGTON, Oct 20 (Reuters) – The Obama administration is planning to send lawmakers a fresh, tougher proposal that would give the government more tools to wind down troubled financial firms and reduce the idea of “too big to fail,” U.S. Treasury Secretary Timothy Geithner said on Tuesday.

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