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Law Legislation


  • David Einhorn

    A recent court ruling that forced two ratings companies to defend fraud claims is a "game-changer" for the industry, said David Einhorn, head of Greenlight Capital.

  • Stethescope and money

    Prospects for a government insurance plan appeared to be sinking fast Tuesday as lawmakers returned to Capitol Hill a day ahead of a major health care speech by President Obama.

  • Roadblock to Preventing Future Failures and Bailouts Tuesday, 8 Sep 2009 | 1:00 PM ET
    Financial Crisis

    As we approach the anniversary of some of the most cataclysmic failures in our economic history, we appear to be in perhaps no better position to manage the failure of an investment bank, a hedge fund or an insurance company than we were before.

  • Barclays.jpg

    Britain's financial watchdog fined Barclays 2.45 million pounds ($4 million) on Tuesday for failing to provide accurate transaction reports and "serious weaknesses" in control systems in two of its divisons.

  • Judge Turns Tables on Unresponsive Mortgage Lender Friday, 4 Sep 2009 | 4:17 PM ET

    Bobbi Giguere had no luck in securing a loan modification fromWells Fargo, even though she had sent the bank the financial documents it requested. Then,  something happened. She questioned a Wells Fargo official about the bank’s lack of response — under oath.

  • Chinese authorities say the arrests of numerous business executives are part of an anticorruption campaign.  But analysts say they're the outgrowth of power struggles within the Communist Party to weaken rivals and their corporate supporters.

  • Tax Havens Face Global Crackdown: OECD Chief Wednesday, 2 Sep 2009 | 4:50 PM ET

    A global crackdown on bank secrecy and offshore tax havens is gaining steam due to  the worldwide financial crisis, the head of the OECD told CNBC.

  • SEC Says It Botched 5 Madoff Probes, Despite Warnings Wednesday, 2 Sep 2009 | 3:46 PM ET
    Bernie Madoff mugshot

    The watchdog of the Securities and Exchange Commission has found that three agency exams and two investigations of Bernard Madoff's business were incompetent, despite ample warnings of the multibillion-dollar fraud.

  • Wig-Wearing Imposter Part of Bernanke ID-Theft Ring Wednesday, 2 Sep 2009 | 10:47 AM ET

    A sophisticated identity theft ring that counted Federal Reserve Chairman Ben Bernanke's wife among its victims didn't stop at stealing money electronically. Authorities say it also sent a woman wearing a variety of wigs into bank branches to drain their accounts in person.

  • Sun's Server Share Hit as Antitrust Scrutiny Looms Wednesday, 2 Sep 2009 | 3:51 AM ET
    Sun Microsystems's headquarters in Santa Clara, California.

    Uncertainty about Sun Microsystems' future appears to have contributed to serious erosion in the company's market share for computer servers in the latest quarter, according to new data being released Wednesday.

  • Madoff's Long Island Beach Getaway Put Up for Sale Tuesday, 1 Sep 2009 | 8:46 AM ET
    Bernie Madoff

    Those who see Bernard Madoff as an evil purveyor of excess might be disappointed by his beach house: It's not that palatial.

  • Superglued Protesters Take On Royal Bank of Scotland Tuesday, 1 Sep 2009 | 8:07 AM ET

    Protesters, some of them superglued together, surged on the London offices of Royal Bank of Scotland while naked activists occupied parts of Edelman PR company Tuesday, as part of Camp for Climate Action group's protests.

  • divorce

    The publicity of an investigation of more than 4,000 overseas bank accounts will likely arouse suspicion among many exes, leading to the reopening of a number of divorce cases. But cheated spouses don't have to wait for IRS notification to confront their suspicions.

  • As More Banks Fail, Private Investors Gaining Favor Tuesday, 25 Aug 2009 | 5:18 PM ET

    With the toll of bank failures surging, regulators are expected Wednesday to ease rules they proposed only last month for private investors seeking to buy failed institutions.

  • Ex-Wives May Pounce on Secret UBS Bank Accounts Tuesday, 25 Aug 2009 | 11:09 AM ET

    Ex-wives are hot on the heels of the US government in going after thousands of Americans whose secret Swiss bank accounts could soon be open to scrutiny, according to a report from Time Magazine.

  • Will Swiss Banks Have to Reinvent Themselves? Monday, 24 Aug 2009 | 3:10 AM ET

    There is no doubt the landmark tax deal between the US and Switzerland this week is a success for UBS, Switzerland’s biggest bank by assets under management. But it may turn out to be the beginning of more headaches for the rest of the Swiss banking industry.

  • More Europe Banks Identified in US Tax Probe: Report Wednesday, 19 Aug 2009 | 4:19 AM ET

    Nearly 10 more Swiss and other European banks holding wealthy US citizens accounts were identified using a tax-evasion amnesty program in the US, the Wall Street Journal reported on its Web site Wednesday.

  • No New Judge in Stanford Case Wednesday, 19 Aug 2009 | 1:25 AM ET

    Late Tuesday, a federal appeals court, without explanation, denied Allen Stanford's petition to remove U.S. District Judge David Hittner from his criminal case.

  • stanford_allen.jpg

    The industry self-regulatory organization that was supposed to police the brokers at the Stanford Financial Group acknowledges it received a tip from an employee in 2003 that the company was running a Ponzi scheme, but did not follow up on it because of the agency's own policy.

  • Stanford Investigators Turn Sights Toward Banks Monday, 17 Aug 2009 | 7:48 PM ET

    Several banks, including two in the U.S., face new scrutiny as investors and regulators try to sort out the alleged Stanford Ponzi scheme, CNBC has learned. At issue: what the banks and regulators knew about massive deposits and withdrawals from Stanford over the years.