Financial Regulatory Forum

U.S. Treasury seeks to protect federal benefits – WSJ

April 14, 2010

    April 14 (Reuters) – The U.S. Treasury department will release new rules on Wednesday that would prevent banks from seizing a borrower’s social security to recover unpaid debt, the Wall Street Journal said. (more…)

Wachovia in talks with U.S. to settle probe-WSJ

March 16, 2010

   March 15 (Reuters) – The Wachovia Bank unit of Wells Fargo & Co <WFC.N> is in talks with the U.S. Justice Department to settle complaints relating to the alleged failure in bank controls that enabled Mexican exchange houses to launder drug money, the Wall Street Journal said, citing people familiar with the situation. (more…)

UK lifts guarantee on Northern Rock deposits

February 24, 2010

BRITAIN-BANKS/   LONDON, Feb 24 (Reuters) – Britain’s Treasury has lifted its guarantee protecting retail deposits with nationalised Northern Rock, a decision that marks a milestone in the bank’s turnaround and draws a line under its troubles as it is prepared for sale. (more…)

US Treasury says consumer watchdog benefits banks

February 23, 2010

    WASHINGTON, Feb 23 (Reuters) – Setting up a separate U.S. consumer financial watchdog will not only improve regulation of banks but also be more efficient for taxpayers, a senior U.S. Treasury Department official said. (more…)

US’ Geithner pushes for independent consumer agency

February 22, 2010

WASHINGTON, Feb 22 (Reuters) – The Obama administration is still fighting for a single, independent consumer financial protection agency, U.S. Treasury Secretary Timothy Geithner said on Monday as lawmakers haggled over a financial reform bill. (more…)

US Congress to probe compensation at rescued companies

October 14, 2009

WASHINGTON, Oct 14 (Reuters) – The U.S. Congress will soon probe executive compensation at companies such as American International Group Inc and Bank of America Corp receiving significant taxpayer funds, the chairman of the House Oversight and Government Reform panel said on Wednesday.

U.S. Treasury to wind down financing program -WSJ

September 16, 2009

FINANCIAL/BAILOUT-GEITHNER    Sept 16 (Reuters) – The U.S. Treasury Department is expected to begin winding down the Supplementary Financing Program, which provides cash for Federal Reserve initiatives, to avoid hitting the $12.1 trillion debt ceiling, the Wall Street Journal reported, citing people familiar with the matter. (more…)

US Treasury bans lobbying on pending TARP requests

September 11, 2009

no_talking    WASHINGTON, Sept 10 (Reuters) – The U.S. Treasury on Thursday posted new lobbying restrictions to curb political influence on investments from the government’s $700 billion bailout program, prohibiting most communications once a funding application has been filed. (more…)

US Treasury proposes int’l capital accord for banks

September 4, 2009

   WASHINGTON, Sept 3 (Reuters) – The U.S. Treasury Department on Thursday proposed tough international standards on capital and liquidity at banks, saying new rules are needed to reduce the risk of another global financial crisis.

U.S. Treasury eyeing more help for homeowners

September 4, 2009

USA/    By Carey Gillam
   OVERLAND PARK, Kan., Sept 3 (Reuters) – Obama administration officials are wary of rising home foreclosures and are exploring options to increase help to beleaguered homeowners, though they were not immediately supportive of an industry proposal for overhauling Fannie Mae and Freddie Mac,  the U.S. Treasury’s leading housing official said on Thursday.