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Congress Financial Reform

  • WASHINGTON, Sept 15- The U.S. watchdog for consumer finance scored a major victory last week when it was part of the government group that forced Wells Fargo& Co into a $190 million settlement of fraud charges, but the Consumer Financial Protection Bureau still faces an ugly fight to justify its own existence. The CFPB could lose its first battle as early as Friday,...

  • US lifting of sanctions was surprising: Academic

    The challenge will be how to manage the Myanmar enterprises that are connected to the military regime, says Macquarie University's Sean Turnell.

  • JERUSALEM, Sept 14- Israeli banks will be able to increase dividends and boost credit to large companies next year after raising their capital levels to meet regulatory demands, Israel's banking regulator said on Wednesday. Hedva Ber, Israel's supervisor of banks, said the sector had changed in recent years, with credit to more risky large firms down 22 percent...

  • LONDON, Sept 14- The UK markets regulator is seeking to ban a former Barclays executive from holding senior roles in the UK financial services industry, alleging he recklessly made misleading statements about a 2012 report into the culture of a bank unit. Tinney, who left Barclays in 2013, is contesting the FCA decision and has referred it to the Upper Tribunal, a...

  • LONDON, Sept 14- A former Barclays executive has been banned from holding senior positions in the UK financial services industry for misconduct, the Financial Services Authority said on Wednesday. Andrew Tinney, the former chief operating officer of Barclays' wealth and investment management division who left the bank in 2013, is contesting the FCA decision...

  • LONDON, Sept 13- The world's top bank regulators on Tuesday defended reforms they plan to finalize this year, saying the aim was not to raise capital levels but rather to make lenders use similar yardsticks to assess risk. The Basel Committee made up of regulators from nearly 30 countries has come under intense pressure from the banking industry and European...

  • LONDON, Sept 13- The world's top bank regulators on Tuesday defended reforms they plan to finalise this year, saying the aim was not to raise capital levels but rather to make lenders use similar yardsticks to assess risk. The Basel Committee made up of regulators from nearly 30 countries has come under intense pressure from the banking industry and European...

  • Structural reforms do get the results: Italy's FinMin

    Italy's finance minister Pier Carlo Padoan talks about how best to implement financial and structural reforms.

  • Sept 12- Sales practices at Wells Fargo& Co that led to $190 million in regulatory fines and penalties last week have negative credit implications for the bank, rating agency Moody's Investors Service said on Monday. Last Thursday, regulators including the U.S. Office of the Comptroller of the Currency, the U.S. Consumer Financial Protection Bureau, and the Los...

  • HONG KONG, Sept 9- State-owned Postal Savings Bank of China plans to raise up to $8.2 billion in a Hong Kong initial public offering and will start taking orders from investors next week after it set a price range for the deal, IFR reported on Friday. PSBC plans to sell 12.2 billion shares at an indicative range of HK $4.68 to HK $5.18 each, putting the total deal at up to...

  • The Consumer Financial Protection Bureau will receive $100 million of the total penalties- the largest fine ever levied by the federal agency. Los Angeles officials and the Office of the Comptroller of the Currency were also party to the settlement. In a complaint filed in May 2015, California prosecutors alleged that Wells Fargo pushed customers into costly...

  • Opening bank accounts has been one of the key issues holding back the development of financial technology companies in Hong Kong as it competes with Singapore, Australia and China to lure investments in the sector. "We welcome the announcement of the HKMA's guidelines on account opening for businesses in Hong Kong and will study these further.

  • NEW YORK, Sept 6- BlackRock Inc portfolio managers will be allowed to borrow from their peers if they are pressed for money to cash out clients, U.S. Securities and Exchange Commission officials said on Tuesday. The SEC last year proposed a requirement that all U.S. mutual funds and exchange-traded funds step up planning to ensure liquidity, though the rules have...

  • NEW YORK, Sept 6- BlackRock Inc portfolio managers will be allowed to borrow from their peers if they are pressed for money to cash out clients, the U.S. Securities and Exchange Commission said on Tuesday. Mutual funds and money market funds offered by the world's largest asset manager will be able to borrow up to 10 percent of the value of their assets on an "...

  • WASHINGTON, Sept 2- Years of stubbornly low interest rates and expectations they will remain low for years to come have prompted U.S. banks to shift their balance sheets in ways that put them at risk if rates suddenly spike, regulators are warning. The dynamic "raises the interest rate risk issue that we are very focused on," Martin Gruenberg, chairman of the Federal...

  • WASHINGTON, Sept 2- Years of stubbornly low interest rates and expectations they will remain low for years to come have prompted U.S. banks to shift their balance sheets in ways that put them at risk if rates suddenly spike, regulators are warning. The dynamic "raises the interest rate risk issue that we are very focused on," Martin Gruenberg, chairman of the Federal...

  • Pierre Gattaz, president of MEDEF, weighs in on potential candidates for France's presidential election next year, and how they could play a part in France's "economical and cultural revolution."

  • France needs significant reforms: Solvay CEO

    Solvay CEO Jean-Pierre Clamadieu says he hopes France will elect a president with a clear mandate to reform the country's economy.

  • China Banking

    Brookings Institution's Eswar Prasad says Beijing needs to reform its state-owned enterprises, which are the root cause of Chinese banks' bad debt.

  • Venezuelan soldiers participate in a parade to celebrate the 195th anniversary of the Battle of Carabobo in Caracas, June 24, 2016.

    As his country's economy implodes around him, Venezuelan strongman Nicolas Maduro has resorted to what may be a last-ditch effort to stay in power.