CNBC's Mary Thompson reports Bank of America, Citi Group, and JPMorgan Chase are among 16 big banks being sued by FDIC for manipulating the LIBOR benchmark interest rate.» Read More
Ending the idea that large financial institutions are “too big to fail” is a top priority under the Obama administration’s regulatory reform proposal, said Sheila Bair, chairman of the Federal Deposit Insurance Corp.
President Barack Obama is ready to roll out an overhaul of the intricate rules and systems that govern America's troubled financial institutions, proposing the most ambitious revision since the Great Depression.
The long-running and personal feud between Mr. Dugan and Ms. Bair is now helping to shape President Obama ’s attempt to revamp financial regulation aimed at preventing the regulatory lapses that contributed to the economic crisis.
The Federal Deposit Insurance Corporation indefinitely postponed a central element of the Obama administration’s bank rescue plan on Wednesday, acknowledging that it could not persuade enough banks to sell off their bad assets.
Washington is asking some painful questions about how to prevent the next financial meltdown. Should it reinvent the Federal Deposit Insurance Corporation? Abolish the seemingly feckless overseer of savings and loans? Grant new powers to the Federal Reserve?
Should we worry about the agency’s ability to save the banks? Cramer tried to find out.
Big U.S. banks are “definitely out of the woods,” but smaller community banks are still facing difficulty, said Dick Bove, financial strategist of Rochdale Securities.
The head of the Securities and Exchange Commission is objecting to a plan being considered by the Obama administration to create a new financial watchdog to protect consumers.
Mega institutions (financial institutions and insurance companies come to mind) that become TOO BIG TO MANAGE are likely to become TOO BIG TO FAIL, writes William Dunkelberg, Economics Professor at Temple University.
CEOs from several regional banks around the country told CNBC they are seeing some signs of “green shoots” in the housing market.
CNBC viewers share their memories of CNBC Chief Commentator Bill Seidman.
CNBC Anchor Bill Griffeth shares memories of Bill Seidman that reflect on the special character of the former FDIC chairman and CNBC chief commentator.
Plus, Bill Seidman remembered.
The Fed does not mind if private equity firms have a minority interest in banks — the Obama administration even wants them to invest. But the Fed will not let them take control, a stance the firms are lobbying regulators mightily to change, especially given that stress test results to be released Thursday are expected to show a glaring need for capital in the banking system.
As executives of the nation's largest banks review their stress-test results, even the top performers are lobbying regulators to raise their scores before the numbers are finalized Friday.
Bondholders would be "nuts" not take General Motor's offer of 225 common shares for each $1,000 principal amount of notes, billionaire investor Wilbur Ross told CNBC.
In the years leading up to the financial crisis, some of the nation’s largest accounting firms failed to properly examine the reserves that banks and other lenders set aside to cover losses, records from a federal oversight board show.
And Ben Bernanke is no Roy Young. What the heck is Cramer talking about? Read on to find out.
Plenty has gone wrong for Ben Bernanke lately, but give the man credit. He does not stop. When all of Washington wigged out about AIG bonuses and tried to figure out the politically expedient way to parley the hand into the next election, Ben went all in and kept trying to save the system.