Major U.S. insurers jostled on Capitol Hill this week over control of 800,000 former State Farm flood insurance policies as lawmakers tried to advance reform of the nation’s flood insurance system. The conflict began last year when State Farm dropped …
Congressional Republicans on Wednesday will stage their first outright challenge to 2010′s Dodd-Frank financial regulation reforms with a fistful of bills favoring private equity firms, derivatives end-users and corporate CEOs. After months of trying to defund and defang Dodd-Frank at …
Republicans will escalate their push to delay and defund the Dodd-Frank Wall Street reforms on Thursday as top regulators appear before the U.S. Senate Banking Committee with a new chairman presiding. Replacing Christopher Dodd, Democrat Tim Johnson will lead his …
If Republicans make big gains in U.S. Congressional elections on Tuesday, as expected, Wall Street and big banks will have sweet, but incomplete, revenge on Democrats who drove through sweeping financial reforms against industry opposition. The likeliest outcome of Democrats …
Global regulators called on national authorities on Wednesday to curb the role of credit rating agencies in the financial system, challenging the value of an industry widely criticized in recent years. The Financial Stability Board (FSB) issued recommendations calling for …
Congress is on track to temporarily extend within days a troubled program that insures millions of U.S. homes and businesses against floods, with another push for a broad overhaul looking likely next year. The Senate on Tuesday approved an extension …
A bill to overhaul the troubled U.S. National Flood Insurance Program, which covers more than five million homes and businesses in flood-prone areas, was approved on Tuesday by a congressional committee. The bill, if approved in the full House and …
Wall Street’s chiefs acknowledged taking on “too much risk” and having “choked” on their own cooking, but stopped short of an apology as they sparred with a commission looking into the financial crisis. The first public hearing of the Financial …
Financial giants such as Goldman Sachs Group could be broken up under two bills introduced in the U.S. Congress Wednesday, one with the backing of former Republican presidential nominee John McCain. Both would reinstate the 1930s-era Glass-Steagall laws that barred …
The U.S. House approved the biggest changes in financial regulation since the Great Depression Friday, marking a win for the Obama administration and congressional Democrats. With the Senate due to debate similar reforms well into next year, the House voted …
