Congress Financial Reform

  • Nov 17- In recent days Republican Congressional leaders have taken several opportunities to warn Obama Administration regulators not to finish any more rulemakings, but some agency heads, such as U.S. By law, Congress already can vote to disapprove of regulations within 60 legislative days of them becoming final. Because of the congressional calendar and...

  • Nov 17- In recent days Republican Congressional leaders have taken several opportunities to warn Obama Administration regulators not to finish any more rulemakings, but some agency heads, such as U.S. By law, Congress already can vote to disapprove of regulations within 60 legislative days of them becoming final. Because of the congressional calendar and...

  • Nov 17- In recent days Republican Congressional leaders have taken several opportunities to warn Obama Administration regulators not to finish any more rulemakings, but some agency heads, such as U.S. By law, Congress already can vote to disapprove of regulations within 60 legislative days of them becoming final. Because of the congressional calendar and...

  • WASHINGTON, Nov 17- The U.S. Congress could as soon as January start to dismantle President Barack Obama's transformation of student loan rules by blocking freshly minted regulations designed to help students who say they were defrauded by for-profit colleges. The new measures, which lay out loan relief procedures for the students, were issued by the...

  • *Adair Turner one of architects of new banking rules. LONDON, Nov 16- The United States must not scrap bank capital requirements introduced at the height of the financial crisis aimed at avoiding more taxpayer bailouts of lenders, an architect of the rules said on Wednesday. "I think it would be very unfortunate if there is any significant rollback of the...

  • LONDON, Nov 16- The European Union's emphasis on reviving securitised debt markets to help fund small businesses is wrong and should be revised to focus on stock markets, a global think-tank of former regulators and central bankers said on Wednesday. The Group of Thirty, chaired by former European Central Bank President Jean-Claude Trichet, said that "contrary...

  • BEIRUT, Nov 16- Lebanon's Blom Bank said on Wednesday it had signed an agreement to acquire the assets and liabilities of HSBC Bank Middle East-Lebanon, a wholly owned subsidiary of HSBC Holdings. Subject to regulatory approval from Lebanon's central bank, Banque du Liban, the transaction is expected to be completed in the first half of 2017, Blom said in a...

  • WASHINGTON, Nov 15- Republican lawmakers told the top U.S. securities regulator on Tuesday they are concerned her agency will rush out new rules in the final weeks that President Barack Obama, a Democrat, holds the Oval Office. The chair of the House Financial Services Committee, Jeb Hensarling, who has been mentioned as a possible Treasury secretary under...

  • Italy needs reforms: SocGen Chair

    ociete Generale Chairman, Lorenzo Bini Smaghi says if Italy votes "no" in its upcoming referendum, the government will be weakened.

  • MILAN, Nov 10- An Italian regulator is investigating the sale of diamonds through bank branches across the country after a TV report alleged the stones were missold to the public. Several Italian banks distribute diamonds for diamond brokers, an unusual partnership that generated around 300 million euros in sales for the brokers last year.

  • WASHINGTON, Nov 9- Global banking regulators would make a grave mistake if they eased capital rules for the world's largest lenders, a senior U.S. banking official said on Wednesday. Tom Hoenig, the vice chairman of the Federal Deposit Insurance Corporation, said higher capital levels may be needed to protect banks from a repeat of turmoil like that seen during...

  • *China top source of illicit outflows 2004-2013- watchdog. As Chinese companies have expanded overseas, the country's lenders, led by its big state-owned banks, have followed their customers, pushing their offshore loans to nearly $1 trillion at the end of 2015, up from more than $600 billion in 2010, according to the International Monetary Fund.

  • In a letter to Wells Fargo Chief Executive Tim Sloan, Senators Elizabeth Warren, Ron Wyden and Robert Menendez questioned the bank's disclosures about those employees' dismissals in required regulatory filings. The employees who were fired worked for Wells Fargo's retail bank but were licensed by the Financial Industry Regulatory Authority, a Wall Street...

  • In a letter to Wells Fargo Chief Executive Tim Sloan, Senators Elizabeth Warren, Ron Wyden and Robert Menendez questioned the bank's disclosures about those employees' dismissals in required regulatory filings. The letter is the first indication that customers of the brokerage business, known as Wells Fargo Advisors, may also have been affected.

  • MUMBAI, Nov 1- India's capital market regulator on Tuesday tightened disclosure norms for Indian credit rating agencies in a bid to boost transparency and accountability after a number of sudden sharp corporate rating changes created concern among investors. Credit rating agencies will be required to publicly provide more details of the criteria and...

  • HONG KONG, Nov 1- Standard Chartered Plc said Hong Kong's securities regulator is investigating its role as a joint sponsor of an initial public offering in 2009 and could take unspecified action against the British lender's Hong Kong unit. The disclosure of the probe on Tuesday by Standard Chartered comes days after Swiss bank UBS also said Hong Kong's...

  • WASHINGTON, Oct 27- Credit unions will be able to reach more consumers with their not-for-profit business model under rules passed by the industry's regulator on Thursday, U.S. officials said. The industry regulator, the National Credit Union Administration, on Thursday approved a plan that relaxes membership restrictions- an action welcomed by the industry.

  • WASHINGTON, Oct 27- Credit unions will be able to more easily expand into markets dominated by banks after a reform vote on Thursday, industry officials say, as regulators clear the way for the not-for-profits lenders. "We expect the NCUA to ease unnecessary regulatory restrictions," said Carrie Hunt, a lobbyist for the National Association of Federal Credit...

  • BEIJING, Oct 26- China's central bank will take into account off-balance sheet financing at commercial banks to assess their overall financial health, three sources with direct knowledge of the matter said late on Tuesday. The People's Bank of China will make the change to its so-called Macro Prudential Assessment risk-tool to broaden its regulatory...

  • BEIJING, Oct 24- China's banking regulator plans to allow local governments to set up more asset management companies as part of a broader effort to manage corporate debt and reduce the growing volume of troubled bank loans that pose a risk to the economy. The China Banking Regulatory Commission is relaxing rules that only allow one local AMC per province, three...