NEW YORK, Dec 11- A U.S. Bankrutpcy Court on Wednesday approved Residential Capital's plan to exit Chapter 11 putting the mortgage lender on track to end its 19- month bankruptcy before year's end.» Read More
Sen. Chris Dodd’s financial-regulation proposal raises the possibility of substantial progress on the road to ending “too big to fail” and bailout nation for banks and other financial institutions.
If there is a protracted battle on any nominee or if any nominee is withdrawn after they are proposed, the process has the potential to wipe out most of the summer and part of the fall. This would leave little time to pass any meaningful legislation before Congress adjourns before the mid-term elections.
Family members of admitted fraudster Bernard Madoff have insisted that they, too, are victims of the historic Ponzi scheme, and moved late Monday to dismiss a civil complaint alleging that they helped facilitate the fraud.
The Senate is already down to its final two hurdles before passing a comprehensive financial reform bill, Sen. Christopher Dodd told CNBC.
Senate Banking Committee Chairman Christopher Dodd Monday unveiled a new, more moderate blueprint for sweeping financial reform in an attempt to win bipartisan support.
The ranking GOP member of the Senate Banking Committee, Richard Shelby, says he agrees with "85-90 percent" of what panel chairman Chris Dodd is expected to unveil his his bill today.
Congress should allow regulators to do their jobs in supervising banks and it must regulate over-the-counter derivatives to prevent a repeat of the financial crisis, Dick Bove, financial strategist at Rochdale Securities, told CNBC Monday.
President Obama is going all in on the health care plan. He postponed an overseas trip to be on hand for a hoped for vote on the plan this coming Friday.
A financial-reform bill expected from Senate Banking Chair Chris Dodd on Monday earned praise from his GOP counterpart, Bob Corker, but the two sides remained far from an agreement.
GOP members of the Senate Banking Committee fired off a letter to committee chair Chris Dodd this weekend, expressing concerns over a bill he plans to unveil on Monday.
Though there’s virtually no chance the Fed will change interest rates or key monetary policy language at its March 16 meeting, change of another sort is imminent.
By setting risk retention requirements at each step of the process, the very legislation intended to avoid a housing crisis could drastically reduce liquidity and cripple the ability of the secondary mortgage market to deliver hundreds of billions of dollars of low cost mortgage credit needed each year.
Senate Banking Committee Chairman Chris Dodd (D-Conn.) will introduce a revised package of reforms for the financial sector Monday, essentially sidelining long-running, bipartisan talks.
House Democratic leaders Thursday walked their rank-and-file members through last-minute agreements that could move President Barack Obama's overhaul of the nation's health care system a step closer to reality.
For 18 years, Gary G. Gensler worked on Wall Street, striking merger deals at the venerable Goldman Sachs. Today, he is emerging as one of the nation’s archreformers, pushing to impose some of the most stringent new financial regulations in history. The New York Times reports.
Congressional budget referees say Senate legislation that's now the foundation for President Barack Obama's health care plan would cut the federal deficit by $118 billion over 10 years.
The Senate Banking Committee has added a new fee on big financial institutions to its legislative package of financial reforms, according to a source familiar with negotiations
Senator Bob Corker, the Tennessee Republican who is playing a crucial role in bipartisan negotiations over financial regulation, pressed to remove a provision from draft legislation that would have empowered federal authorities to crack down on payday lenders.
President Barack Obama accused insurance companies of placing profits over people and said Republicans ignored long-festering problems when they held power as he sought to build support Monday for swift passage of legislation stalled in Congress.
Senate Banking Committee Chairman Chris Dodd said he was hopeful a bipartisan agreement on a sweeping package of financial regulatory reforms could be reached in the coming days, but admitted there were still key differences between his party and the GOP.