WASHINGTON, May 22 (Reuters) – The U.S. Senate aims to vote
to confirm three candidates to the Commodity Futures Trading
Commission in early June, a senior Democratic aide said on
Thursday, to fill a leadership gap at the futures and swaps
The agency played a crucial role in reforming financial
markets after the 2007-2009 credit crisis, bringing largely
unregulated swaps trading by Wall Street giants such as Bank of
America and JPMorgan under its control.
DETROIT/WASHINGTON (Reuters) – General Motors Co is recalling more than 284,000 older Chevrolet small cars in the United States and other markets because of a potential fire hazard, bringing U.S. recalls at the automaker this year to 29 and a record number of vehicles.
The two recalls are the latest announced by GM, the largest U.S. automaker. The recall with the highest profile was of cars with defective ignition switches linked to at least 13 deaths. The Detroit company has been criticized by safety advocates and fined by U.S. safety regulators for its delayed response in catching the faulty switch.
WASHINGTON (Reuters) – The U.S. Senate on Wednesday approved Stanley Fischer’s nomination to the Federal Reserve Board of Governors, adding a potentially influential voice to the developing debate over Fed policy in the post-crisis era.
Fischer, 70, was approved on a 68-27 vote, with all the opposition coming from Republicans. A separate vote, still unscheduled, must be held to confirm his appointment as vice chairman of the U.S. central bank.
WASHINGTON (Reuters) – General Motors Co was slapped on Friday with a $35 million U.S. fine for its delayed response to an ignition switch defect in millions of vehicles, as federal regulators accused a long line of company officials of concealing a problem that is linked to at least 13 deaths.
U.S. Transportation Secretary Anthony Foxx announced the fine, which is the maximum the agency can impose. Other investigations into the automaker’s handling of the recall are being conducted by the federal government and could come with more severe punishments.
WASHINGTON (Reuters) – General Motors Co was slapped on Friday with a $35 million U.S. fine for its delayed response to an ignition switch defect in millions of vehicles.
U.S. Transportation Secretary Anthony Foxx announced the fine, which is the maximum the agency can impose. Other investigations into the automaker’s handling of the recall are being conducted by the federal government.
WASHINGTON (Reuters) – Here’s a riddle: Many Republicans deny it’s happening. Some Democrats don’t want to talk about it. What is it?
The answer is the growing U.S. economy, on pace to expand as much as 3.5 percent this year, about the best performance in the industrialized world. Unemployment has fallen from 10 percent to about 6.3 percent and consumer confidence is at a six-year high.
WASHINGTON (Reuters) – The new head of a congressional panel investigating the 2012 attack on U.S. diplomatic facilities in Benghazi, Libya, criticized on Wednesday some Republicans’ use of the deadly incident to raise campaign funds.
During an interview on MSNBC’s “Morning Joe” program, Representative Trey Gowdy of South Carolina was asked whether he would appeal to his fellow Republicans to stop such fundraising efforts.
WASHINGTON (Reuters) – Congressional investigators are examining whether General Motors Co Chief Executive Mary Barra and other senior executives were more involved than they have publicly acknowledged as the automaker considered how to deal with a deadly ignition switch issue linked to at least 13 deaths, three sources familiar with the probe say.
The investigators also are examining whether executives acted fast enough, once they learned of the problem, said the congressional sources, who were not authorized to speak publicly about the matter.
WASHINGTON, April 29 (Reuters) – The Senate Banking
Committee approved three nominees to the Federal Reserve’s board
on Tuesday, including Stanley Fischer to be the U.S. central
bank’s No. 2, in a big step toward replenishing the Fed’s
The panel also backed the nominations of former senior U.S.
Treasury official Lael Brainard and current Fed Governor Jerome
Powell, who was nominated for another term. All three nominees
were approved on a unanimous voice vote.
WASHINGTON (Reuters) – The White House is considering small steps in the near term to ease the threat of deportation for some undocumented immigrants, but advocates in communication with the administration expect President Barack Obama to make bigger changes later in the year.
With legislation to reform U.S. immigration policy stalled in Congress, Obama has come under increasing pressure from the immigrant community to take executive action to curb the rate of deportation that has reached a record level under his presidency.