WASHINGTON, July 21 (Reuters) – The U.S. Treasury Department sent a draft bill to Congress that would prevent credit rating agencies from consulting for the companies they evaluate, and said it hoped new disclosure and conflict-of-interest rules will curb the agencies’ power. (more…)
Financial Regulatory Forum
By Karey Wutkowski
WASHINGTON, July 15 (Reuters) – The U.S. Treasury Department wants to find a “responsible” way to provide government aid to troubled lender CIT Group Inc, Representative Barney Frank said on Wednesday. “I’ve spoken with (Treasury) Secretary Geithner, and I understand they’re working hard to try to come up with something responsible to try to prevent the failure,” Frank, chairman of the House Financial Services Committee, told Reuters in an interview. (more…)
NEW YORK, July 1 (Reuters) – The U.S. Treasury Department is expected to name as many as nine fund managers to operate the long-awaited Public-Private Investment Program (PPIP) to cleanse banks of toxic assets, a person familiar with the plan said on Wednesday.