Articles by Alexandra Alper and Aruna Viswanatha

New York’s Fraud Suit Against JPMorgan May Aid Private Lawsuits

New York state’s lawsuit against JPMorgan Chase & Co. alleging fraud in mortgage-backed securities sold by Bear Stearns may be one of the broadest cases to come out of the financial crisis, but its impact is likely to be limited. …

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 …

FDIC Director Says U.S. Should Reject Basel III Pact

The United States should reject Basel III bank capital standards if the international panel that drafted them does not make dramatic changes to the rules, a director at the U.S. Federal Deposit Insurance Corp. said on Friday. Speaking at the …

Focus of MF Global Probes Turns to Civil Cases; Insurance Dwindling

Prosecutors investigating the collapse of failed commodities brokerage MF Global are close to wrapping up their criminal probe and are unlikely to file criminal charges, a move that could pave the way for regulators to bring civil cases, according to …

IMF Says Benefits of Global Financial Reform Outweigh Costs

Tough new global financial rules will nudge up credit costs, but the slight drag they will place on major economies is worth it to achieve a more stable financial system, the International Monetary Fund said on Tuesday. In a study …

Washington Explores Insurance, Other Protection for Futures Customers

U.S. regulators and futures industry players said on Thursday that there is no perfect solution to safeguard customer money in the wake of two major brokerage scandals, but added that policymakers should move quickly on some important fixes. Bart Chilton, …

Futures Industry Head Seeks Study of Insurance Fund

The chairman of a futures industry trade group said on Thursday that serious consideration should be given to the creation of an insurance fund to protect futures customers, after two major scandals shook confidence in the market. Michael Dawley, chairman …

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 …

Lawsuit Seeks to Curb Powers of New Federal Consumer Financial Board

A small bank and two conservative advocacy groups said on Thursday that they would file a lawsuit against the new Consumer Financial Protection Bureau, challenging what they call the agency’s “unlimited regulatory power.” It is unclear how much of a …

MF Global Trustee Recommends Insurance Fund for Futures Customers

Futures customers should have access to a fund that guarantees their accounts up to a certain threshold, the trustee liquidating MF Global Holdings Ltd said in a report on Monday. The report, written by Trustee James Giddens to the U.S. …