Dodd-Frank financial oversight law News

Report: U.S. Making Progress Against ‘Too-Big-to-Fail’ Bailouts

For the past year, a special team of U.S. bank regulators has been on a quiet mission to end the belief on Wall Street that large banks are “too big to fail.” The team from the Federal Deposit Insurance Corp. …

Fed Approves Process for Designating Nonbanks for Stricter Oversight

The U.S. Federal Reserve said on Wednesday that it had approved a final rule to clarify the process the new U.S. risk council will follow when it begins designating nonbank financial firms for heightened oversight. A group of regulators known …

Rules for Dodd-Frank Top Republican House Agenda

Republicans in the U.S. House of Representatives are gearing up to overhaul the housing finance system this year and will soon map out ways to monitor Wall Street reform rules, according to a draft agenda circulating on Capitol Hill. Republicans …

Rep. Frank Defends JPMorgan Against Lawsuit Over Bear Stearns

Democratic Congressman Barney Frank defended the nation’s largest bank on Monday, saying in a statement that the government was wrong to go after JPMorgan Chase & Co. for the alleged misdeeds of Bear Stearns. Frank, the co-author of the 2010 …

AIG Targeted as Likely ‘Systemically Important’ Financial Firm

Insurance giant American International Group Inc. said that it has received a notice from the Financial Stability Oversight Council (FSOC) that it is under consideration as a “systemically important financial institution” pursuant to the Dodd-Frank Wall Street reform act. The …

Dodd-Frank Council to Proceed with Picking ‘Systemic’ Nonbank Firms

The Financial Stability Oversight Council voted to move a group of non-banking financial companies forward in a process that will determine whether they are so big their failure would destabilize the economy, a Treasury Department spokesman said on Friday. During …

Former FDIC Chair Bair Reveals Financial Bailout Details in Book

When Sheila Bair showed up for a meeting in then-Treasury Secretary Hank Paulson’s office in October 2008, the bank regulator had no idea she was about to be asked to guarantee the debts of the entire $13 trillion U.S. banking …

3 States Join Lawsuit Challenging Dodd-Frank Law

Three U.S. states have joined a lawsuit that challenges the constitutionality of the 2010 Dodd-Frank law that overhauled U.S. financial oversight and created the Consumer Financial Protection Bureau. The attorneys general of Michigan, Oklahoma and South Carolina are challenging a …

Pawlenty to Head Financial Services Roundtable

Former Republican presidential hopeful Tim Pawlenty will become the head of the Financial Services Roundtable, a U.S. financial services lobbying group that represents JP Morgan Chase & Co. and Wells Fargo & Co., among other financial companies, the group said …

Derivative Reform to Be Finalized This Week

The U.S. swaps regulator is set to finalize this week a critical reform that will trigger banks and traders having to comply with costly new derivatives rules. The Commodity Futures Trading Commission will vote on Tuesday on a definition of …