Articles by Michelle Price and Pete Schroeder

What Banks Got, Did Not Get in Dodd Frank Rewrite Passed by Congress

Congress on Tuesday rolled back some of the restraints imposed on banks after the 2007-2009 global financial crisis, but big players like Goldman Sachs, Morgan Stanley and JPMorgan Chase, will not be breaking out the champagne. While Wall Street banks …

SEC Updates Guidance on Cyber Disclosure by Companies

The U.S. Securities and Exchange Commission updated guidance to public companies on how and when they should disclose cyber security risks and breaches, including potential weaknesses that have not yet been targeted by hackers. The guidance also said company executives …

SEC Updates Guidance on Cyber Disclosure by Companies

The U.S. Securities and Exchange Commission on Wednesday updated guidance to public companies on how and when they should disclose cyber security risks and breaches, including potential weaknesses that have not yet been targeted by hackers. The guidance also said …

U.S. May Move to Regulate Virtual Currencies

U.S. regulators may ask Congress to pass legislation to improve oversight of virtual currencies like bitcoin amid concerns about the risks posed by the emerging asset class, the head of the Securities and Exchange Commission said on Tuesday. The comments …

U.S. Regulator Pulls Back from MetLife’s ‘Too-Big-to-Fail’ Designation

The U.S. government and MetLife Inc. announced on Thursday they would jointly seek to dismiss an appeal over whether the insurance company should face stricter oversight as a key part of the financial system. MetLife and the Financial Stability Oversight …

Senators Propose Heavy Fines for Credit Agencies Over Privacy Data Breaches

Two Senate Democrats are proposing large new fines for credit reporting agencies that lose consumers’ personal information in data breaches, according to a bill they introduced on Wednesday. The bill would impose potentially significant fines against companies like Equifax, TransUnion, …

Global Regulators Expected to Drop ‘Too Big to Fail’ Test for Insurers

Global financial regulators have decided to ditch a “too big to fail” gauge for assessing the riskiness of insurers, according to a source briefed on the matter, in a big win for companies such as American International Group and Prudential …

U.S. Consumer Bureau Offers Rules for Financial Data Collection

The U.S. Consumer Financial Protection Bureau is turning its attention to companies that collect consumer financial information to provide services and products. The regulator laid out a series of principles on Wednesday to establish its expectations for accessing consumer’s financial …

Oversight Panel Makes No Changes in Systemic Risk Tags on Insurers

A panel of U.S. regulators decided after meeting on Friday to stick with its existing policy for stricter rules on a handful of large financial institutions it deems “systemically important.” The Financial Stability Oversight Council convened Friday to potentially remove …

Ban on Consumer Mandatory Arbitration Clauses Faces Challenges

A U.S. rule years in the making that was intended to restore consumers’ ability to band together to sue financial companies could unravel in just a few months as the heads of two federal agencies clash over it and critics …