×

Congress Financial Reform

  • *Preliminary report due Jan. 31, final report due Apr. 30. SYDNEY, Sept 8- Australia's banking regulator said on Friday its unprecedented investigation of Commonwealth Bank of Australia would examine whether its corporate structure had enabled a series of scandals that have rocked the lender's reputation. Treasurer Scott Morrison said the watchdog had the...

  • *DFS, HBL agree on settlement and closure of New York branch. WASHINGTON, Sept 7- The New York State Department of Financial Services said on Thursday Pakistan's Habib Bank has agreed to pay $225 million to settle an enforcement action brought against the bank for failing to comply with laws designed to combat illicit money transfers. The regulator said the bank,...

  • WASHINGTON, Sept 7- The New York State Department of Financial Services said on Thursday it had fined Pakistan's Habib Bank and its New York branch $225 million for failures to comply with laws and regulations designed to combat illicit money transactions. The DFS said on Thursday it had also imposed an order outlining conditions for the orderly closure of...

  • Richard Cordray, director of the Consumer Financial Protection Bureau

    The Education Department calls the Consumer Financial Protection Bureau "overreaching and unaccountable."

  • WASHINGTON, Sept 6- U.S. banks may temporarily lighten loan terms to help those affected by Hurricane Irma and some regulatory paperwork can be filed late in light of the storm, regulators said on Wednesday. Dangerous Category 5 Hurricane Irma hammered the Caribbean island of St. Martin on Wednesday and is expected to hit Florida over the weekend.

  • FRANKFURT, Sept 6- Fewer than ten of the approximately 40 banks that conduct EU business out of London have applied so far for a licence to continue banking in the bloc after Britain leaves, regulatory sources told Reuters. While Britain does not leave the EU until March 2019, bank executives have said time is already running out: it could take 18 months or more to set...

  • FRANKFURT, Sept 6- Fewer than ten of the approximately 40 banks that conduct EU business out of London have applied so far for a license to continue banking in the bloc after Britain leaves, regulatory sources told Reuters. While Britain does not leave the EU until March 2019, bank executives have said time is already running out: it could take 18 months or more to set...

  • FRANKFURT, Sept 6- Fewer than ten of the approximately 40 banks that conduct EU business out of London have applied so far for a licence to continue banking in the bloc after Britain leaves, regulatory sources told Reuters. While Britain does not leave the EU until March 2019, bank executives have said time is already running out: it could take 18 months or more to set...

  • FRANKFURT, Sept 6- Fewer than ten of the approximately 40 banks that conduct EU business out of London have applied so far for a license to continue banking in the bloc after Britain leaves, regulatory sources told Reuters. While Britain does not leave the EU until March 2019, bank executives have said time is already running out: it could take 18 months or more to set...

  • LONDON, Sept 4- Nineteen foreign banks in the European Union will need to set up new holding companies so that regulators can scrutinise them more closely, an EU discussion paper says, mirroring steps taken by the United States. Between them they operate via 53 subsidiaries and 53 branches, with 35, more than a third of the total, in Britain alone.

  • KARACHI, Pakistan, Aug 29- Pakistan's largest bank, facing a possible $630 million fine over compliance failures by its New York branch, admitted mistakes on Tuesday but denied any wrongdoing and said the penalty sought by U.S. regulators was disproportionate. New York State's Department of Financial Services said on Monday it was seeking to fine Habib Bank Ltd...

  • *Habib Bank says it will' vigorously' contest penalty. *Bank says it has applied to close its operations in New York. ISLAMABAD, Aug 28- The New York State Department of Financial Services said it is seeking to fine Habib Bank Ltd, Pakistan's biggest lender, up to $630 million for "grave" compliance failures relating to anti-money laundering rules and sanctions at its...

  • SYDNEY, Aug 28- Commonwealth Bank of Australia, the nation's biggest lender, has been hit with a public inquiry into its governance and culture- the second regulatory probe to be launched this month after it was accused of massive breaches of money-laundering rules. The move represents the first time that the Australian Prudential Regulation Authority will...

  • SYDNEY, Aug 28- Australia's prudential regulator said on Monday it will establish an inquiry into governance, culture and accountability at the country's biggest bank in the wake of alleged breaches of money-laundering and counter-terrorism financing rules. Australia's corporate regulator, the Australian Securities and Investment Commission, has also...

  • It's going to be tough for Trump to sell tax reform

    Trump needs to harness his communications skills - and the ear of the public - to sell it, writes CNBC's Jake Novak.

  • WASHINGTON, Aug 22- U.S. bank regulators proposed on Tuesday holding off on implementing stricter capital rules for smaller banks while the agencies review ways to simplify requirements for less complex institutions. The Federal Reserve, Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency signed off on the action.

  • *Chairman of FDIC warns of risks ahead amid rate rises. WASHINGTON, Aug 22- U.S. banks kept a lid on costs and booked higher interest income in the second quarter, boosting profits by 10.7 percent on the year-ago period, the Federal Deposit Insurance Corporation said on Tuesday. The $48.3 billion in profits during the second quarter indicate the U.S. banking sector...

  • Aug 18- After paying customers millions of dollars for opening phony accounts they did not want, Wells Fargo& Co has said it is now grappling with the possibility it harmed customers by closing real accounts they needed, leaving them without access to funds. Wells, the third-largest U.S. bank, disclosed in a regulatory filing on Aug. 4 that the Consumer Financial...

  • Steven Peikin, the new co-head of enforcement at the SEC, held as much as $9 million worth of stock in dozens of blue-chip companies as of Aug. 8, according to a disclosure filing obtained through a public records request. Should those companies come before the SEC, potential conflicts of interest could arise. Having such conflicts is not unusual for senior SEC...

  • BOSTON/ NEW YORK, Aug 15- Massachusetts' top securities regulator said on Tuesday that his office is examining whether brokerages route orders to stock exchanges that pay them additional fees regardless of whether investor clients are getting the best price. The regulator, William Galvin, the secretary of the Commonwealth of Massachusetts, has sent inquiry...