The politically connected former CEO of a prominent New York City charity has admitted he helped steal $5 million in an insurance scheme.» Read More
The economy will recover this year but at a slow enough place to cause challenges for investors, a panel of financial experts told CNBC.
There is a sentence in the new financial regulatory proposal that has me out of my seat. It says, "We also propose that the Federal Reserve Board receive prior written approval from the Secretary of the Treasury for emergency lending under its 'unusual and exigent circumstances' authority."
Federal Reserve Chairman Ben Bernanke deserves to be reappointed, because he did a great job in saving the US banking system from collapsing, Jack Welch, author of "Winning" and "Straight from the Gut," told CNBC Thursday.
The big winner of the Obama financial-regulation plan appears to be the Federal Reserve, which becomes the consolidated supervisor of large, systemically important banks.
US stock index futures were flat Thursday as investors digested the Obama Administration’s changes to financial regulation and looked toward key economic reports including jobless claims.
Market manipulators are bound to find a way around sweeping reforms proposed for the financial services system, hedge fund manager James Chanos told CNBC.
National Economic Counsel Advisor Larry Summers told CNBC Tuesday that President Obama's call for new regulations in the financial industry has no winners or losers and is more like a re-organization than creating new agencies
The financial overhaul expands the Fed's powers but also restricts them, underscoring the central bank's awkward role in bank regulation and the economy.
The regulatory reform package provokes concerns about big government, but others on Wall Street said it could help prevent a repeat of the financial crisis.
The financial reform should include some way of separating banks' proprietary trading from commercial banking, although a return to regulation similar to the Glass-Steagall Act would be impractical, legendary investor George Soros wrote in the Financial Times.
Concerned over the surge of phony swine flu treatments hawked on the Internet, the Food and Drug Administration has ordered dozens of Web site operators to stop making fraudulent claims, leading to a drop in the number of scams.
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.
Historic anti-smoking legislation sped to final congressional passage on Friday— after a bitter fight lasting nearly a half-century— and lawmakers and the White House quickly declared it would save the lives of thousands of smokers of all ages.
The Senate has voted to give the government extensive new powers to decide how tobacco companies will make and market their products. Supporters say that could spare millions from smoking addiction and premature death.
An Indiana money manager is set to plead guilty to charges of crashing an airplane near a Panhandle neighborhood in a botched attempt to fake his own death.
Red Bull fans once hyped the popular energy drink as "liquid cocaine." They may have been on to something. The latest buzz about Red Bull is a widening controversy over whether its products actually contain traces of the illegal drug.
Dutch Finance Minister Wouter Bos hit back at critics of his plan for "banker driving licenses" Wednesday.
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?
The UK's Financial Services Authority released details of its banking stress-test methodology on Thursday. I’m a big fan of stress-testing myself (in the form of sport rather than economics) and this weekend I face my toughest stress test to date: my first-ever half ironman.