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Rules Would Restrict Overdraft Fees on Debit Cards

WASHINGTON The Federal Reserve announced new rules on Thursday that would prohibit banks and other issuers of debit cards from charging consumers overdraft fees in many instances without the permission of the cardholder. The rules, which take effect ...

From STEPHEN LABATON, The New York Times,  12 Nov 2009

Related Topics: Federal Reserve,  Ben Bernanke,  Christopher J. Dodd,  U.S. Democratic Party,  House Financial Services Committee

Committee Allows a Break on Certain Auditing Rules

WASHINGTON Legislation that its supporters say would provide greater protection to investors sailed through a House committee on Wednesday, but not before the lawmakers added a provision to ease new auditing standards for small and medium-size ...

From STEPHEN LABATON, The New York Times,  4 Nov 2009

Related Topics: House Financial Services Committee,  U.S. Democratic Party,  White House,  U.S. Republican Party,  Securities and Exchange Commission

F.D.I.C. Chief Criticizes Financial Reform Plan

WASHINGTON Clashing once again with the Obama administration, Sheila C. Bair, a senior banking regulator, found fault Thursday with central elements of the White House’s latest plan for a new process to unwind large financial companies when their ...

From STEPHEN LABATON, The New York Times,  29 Oct 2009

Related Topics: White House,  Federal Reserve,  Timothy F. Geithner,  House Financial Services Committee,  Barack Obama

Bill shifts rescue costs to big firms

on industrial loan companies — financial institutions owned by commercial enterprises like retailers or manufacturers — and, in the future, would not permit any more commercial companies to own banks. WASHINGTON — The Obama administration and the head ...

From STEPHEN LABATON, TwinCities.com,  27 Oct 2009

Related Topics: House Financial Services Committee,  Barack Obama,  Barney Frank,  Federal Reserve,  Federal Deposit Insurance Corp.

Finance bill gives US broader bank powers

WASHINGTON - The Obama administration and the head of an important House committee unveiled legislation yesterday to give the government broad new powers to shift the cost of rescues of big, troubled financial institutions from taxpayers to other large ...

From STEPHEN LABATON, Boston Globe,  27 Oct 2009

Related Topics: House Financial Services Committee,  Barack Obama,  Barney Frank,  U.S. Democratic Party,  Federal Reserve

Bill Would Give U.S. New Power to Seize Ailing Firms

WASHINGTON The Obama administration and the head of a key House committee unveiled legislation on Tuesday that would give the government broad new powers to seize big, troubled financial institutions and shift the cost of such rescues to other large ...

From STEPHEN LABATON, The New York Times,  27 Oct 2009

Related Topics: House Financial Services Committee,  Federal Reserve,  Barney Frank,  Paul Kanjorski,  Barack Obama

Trying to Rein in ‘Too Big to Fail’ Institutions

WASHINGTON Congress and the Obama administration are about to take up one of the most fundamental issues stemming from the near collapse of the financial system last year how to deal with institutions that are so big that the government has no choice ...

From STEPHEN LABATON, The New York Times,  25 Oct 2009

Related Topics: United States Department of the Treasury,  House Financial Services Committee,  Barney Frank,  U.S. Congress,  Barack Obama

To curb risk, fed to track banks' top paychecks

dominated Wall Street for decades. The abiding principle of both announcements was the same — companies that make a lot of money over a sustained period will be allowed to reward their executives handsomely, but those who put the economy, the financial ...

From STEPHEN LABATON NEW YORK TIMES, The San Jose Mercury News,  23 Oct 2009

Related Topics: Federal Reserve,  Barack Obama,  Goldman Sachs,  Ben Bernanke,  Morgan Stanley

Trying to curb risk, Fed will track banks' top paychecks

decades. The abiding principle of both announcements was the same — companies that make a lot of money over a sustained period will be allowed to reward their executives handsomely, while those who put the economy, the financial system, shareholders ...

From STEPHEN LABATON, TwinCities.com,  22 Oct 2009

Related Topics: Federal Reserve,  Barack Obama,  Ben Bernanke,  U.S. Congress,  Goldman Sachs

Federal Reserve to Step Up Reviews of Bank Compensation

WASHINGTON The Federal Reserve announced a plan on Thursday to eliminate pay packages that in the past have encouraged bankers to take the kinds of reckless risks that contributed to the housing bubble. The move, a response to the public outrage over ...

From STEPHEN LABATON, The New York Times,  22 Oct 2009

Related Topics: Federal Reserve,  U.S. Congress,  Ben Bernanke,  Bank of America,  Citigroup

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