This little-known group may pose the biggest barrier to reducing the nation's income inequality.» Read More
Former Rep. Barney Frank on Monday dismissed calls to bring back a Depression-era law that divided commercial and investment banking.
WASHINGTON, July 16- The U.S. Senate on Tuesday confirmed a director of the Consumer Financial Protection Bureau, ending a nearly two-year standoff in Congress and putting the new agency on sounder legal footing.
The Senate confirmed Richard Cordray to head the consumer bureau, an Obama nomination that had been stalled for two years.
WASHINGTON, July 16- The U.S. Senate on Tuesday moved toward confirming a director of the Consumer Financial Protection Bureau, ending a two-year standoff in Congress and putting the new agency on sounder legal footing.
The Senate votes to move toward confirmation of Richard Cordray as director of the Consumer Financial Protection Bureau, ending a months-long standoff.
WASHINGTON, July 15- A U.S. A group of U.S. senators, including Massachusetts Democrat Elizabeth Warren and John McCain, an Arizona Republican, unveiled a bill last week to bring back elements of a Depression-era law that divided commercial and investment banking. It would face a tough road to passage in a deeply divided Congress.
Senator Elizabeth Warren (D-MA) wants to break up the banks, and Russian hockey player Ilya Kovalchuk of the NJ Devils is retiring. CNBC's John Carney, and Neil Weinberg American Banker, discuss.
By focusing on preventing the past, both sides of the debate over Elizabeth Warren's 21st Century Glass-Steagall Act are missing the point.
The big banks should not be allowed to dip into FDIC-insured deposits to engage in risky trading activities, Sen. Elizabeth Warren, D-Mass., said on CNBC Friday, as she pushed for a new, modern-day bank breakup bill.
Elizabeth Warren, (D-MA), defends the 21st Century Glass-Steagall Act, her bill designed to rein in too-big-to-fail banks.
"For the life of me, I do not understand... why anyone would want to recreate the very companies that caused the past financial crisis," declared Dick Kovacevich, former chairman & CEO at Wells Fargo, sharing his views on breaking up big banks and the future of financial institutions.
CNBC's Eamon Javers reports John McCain and Elizabeth Warren are joining forces to introduce a bill that would reinstate the Glass-Steagall Act.
The Democrat from Massachusetts gives Wall Street another reason to complain about her as she joins a small bipartisan group of U.S. senators introducing legislation that would break up Wall Street's megabanks.
*Under new policy SEC will seek admissions in some cases. *Senator Warren said SEC is heading in right direction. While that practice will continue, White said the SEC will try to extract admissions in select cases in which there is widespread investor harm, egregious intentional misconduct, or attempts to thwart an SEC investigation. 1/ 8 ID: nL2N0EU24E 3/ 8.
WASHINGTON, June 19- The decision by the U.S. Securities and Exchange Commission to seek admissions of wrongdoing in select enforcement cases is expected to put pressure on other federal financial regulators to get tougher with their own Wall Street settlements.
Sen. Elizabeth Warren (D-MA) came out swinging at her first hearing as a member of the Senate Banking Committee, with CNBC's Hampton Pearson. Barney Frank, former Congressman (D-MA), shares his reaction.
U.S. Senate Democrats said Senator-elect Elizabeth Warren, a consumer finance activist feared by Wall Street, will join the Senate Banking Committee next year.
Scott Brown and Democratic challenger Elizabeth Warren ramped up their voter outreach efforts Thursday as new campaign fundraising reports show they've already spent nearly $68 million pursuing the same Massachusetts Senate seat.
NEW YORK-- A growth in early voting and tough economy for the media are forcing changes to the exit poll system that television networks and The Associated Press depend upon to deliver the story on Election Night, all with the pressure-filled backdrop of a tight presidential race.
Scott Brown is apologizing for suggesting Democratic rival Elizabeth Warren used paid actors in political ads defending her legal work in an asbestos lawsuit. The Taunton Daily Gazette reported that Brown was asked how Warren got family members of asbestos victims to appear in her ads.