financial reform bill

New SEC Rule Gives Investors a Vote on Executive Pay

The Securities and Exchange Commission on Tuesday approved a measure that gives institutional shareholders a vote on executive pay at large corporations, part of regulators' efforts to give investors greater say over top-level salaries that have been described as excessive.

Volcker to Resign From Economic Recovery Advisory Board

Paul Volcker, chairman of the Economic Recovery Advisory Board for President Barack Obama, is set to step down from the position next month. As a key adviser to the president, Volcker has advocated for tougher financial regulations and counseled the government on fiscal policy.

Consumers May Get Hit With Higher Debit Card Fees

New rules proposed by the Fed for debit card transactions may mean that consumers end up paying much more for using their cards, while big retailers save billions. The proposed rules would sharply limit the transaction fees sellers have paid, which could push banks to recoup that money directly from buyers.

The Hidden Cost of Big Wall Street Bonuses to Society

Though most Americans wish that Congress would rein in excessive pay on Wall Street, that won't happen while the huge campaign contributions keep flowing. And the financial industry's big money shell game drains away something more precious from our society than money -- it siphons off talent.

Federal Reserve Releases Massive Amount of Bailout Data

The Fed on Wednesday released detailed information about the efforts it took to stabilize financial markets during the recent downturn. The Fed, which is facing increasing criticism from conservatives, defended its actions, and noted that no money was lost on its bailout programs.

SEC Probes Citigroup Bond Funds

The SEC subpoenaed several former in-house brokers as part of an investigation of Citigroup (C) debt funds. The funds in question borrowed heavily and invested in mortgage bonds and municipal bonds, The Wall Street Journal said without naming its sources. The funds%u2019 value slumped by as much as 77% during the financial crisis, leading Citigroup to offer share buybacks that would reduce investor loss to about 61%.

Legal Briefing: Need a Job? Sue Over Patent Marking

In Wednesday's legal news, the Texas Attorney General has appealed a judge's decision to grant a divorce to two men who were married out of state; the SEC vows to pursue overseas ratings fraud; and companies that incorrectly claim their products are patented can be sued for $500 per product.

Financial Reform Law Lets SEC Keep More Secrets

The new financial reform law may have made it easier for the SEC to keep secrets. Under the regulations, the SEC is exempt from having to disclose records or information derived from "surveillance, risk assessments, or other regulatory and oversight activities," reports.

Do Fannie and Freddie Have a Future?

The future of the government-backed mortgage finance giants Fannie Mae and Freddie Mac, which critics have accused of exacerbating the meltdown in the U.S. housing market, will be discussed next month at a conference sponsored by the U.S. Department of Treasury.

Depositors at Failed Banks Get $200 Million

A provision in the newly passed Dodd-Frank financial overhaul law makes the higher FDIC insurance limit of $250,000 retroactive to 2008. That means depositors at six banks will now get reimbursed for the higher amount.

A Wall Street Lawyer's Take on Financial Reform

Winthrop Brown, a Washington lawyer who lobbies on behalf of financial services firms, says the new regulations should get fairly high marks from Wall Street -- and from Main Street. But will they prevent another economic meltdown?

Smaller Loan Losses Lift Bank Earnings

Bank of America, Citi and JPMorgan Chase reported earnings that beat expectations -- despite a drop in investment banking and trading income. Results were buoyed by lower losses on loans and credit cards and resulting cuts in loan reserves that were bigger than expected.

Democrats Push Financial Reform With Slim Margin for Error

Senate Democrats will make the final push to pass a financial reform bill this week, knowing they have slim margin for error in their hunt for votes. The House of Representatives has already passed a version of the bill. To send the bill to President Obama to sign into law, Senate Majority Leader Harry Reid will likely need 60 votes to overcome a procedural hurdle in the 100-seat chamber.

Greenspan Says U.S. Economy Is Likely in a 'Pause'

Former Federal Reserve Chairman Alan Greenspan said that the recent slowdown in economic indicators is most likely temporary. "It%u2019s more than likely a pause in the usual cyclical pattern," Greenspan said in an interview with CNBC.

Goldman May Be Financial Reform's Biggest Loser

Some winners and losers of the Dodd-Frank financial regulation reform bill are beginning to emerge. The bill's limits on proprietary trading will potentially hit Goldman Sachs the hardest. But it could also take a long time before those losses are realized.

The Financial Reform Vote Just Got a Lot Trickier

The passing of Sen. Robert Byrd, the longtime West Virginia Democrat, could throw a wrench into the party's plans to pass the landmark overhaul bill by July 4 and hand President Obama a key election-year victory.

Financials Rally, but the Dow's Winning Streak Ends

Friday's seesaw day ended mixed, as a relief rally on the compromise reached for financial regulation reform offset concern over a downward revision to first-quarter GDP. Still, the Dow lost more than 300 points this week, abruptly ending a healthy two-week rally.

Obama: Financial Reform Will Help the Economy

President Obama said Friday that the financial reform deal struck by members of a congressional conference committee will "strengthen our economy" and protect consumers from the excesses of the financial system.

What's Inside the Financial Reform Bill

Senate and House negotiators reached agreement early Friday morning on the most sweeping overhaul of financial regulation since the Great Depression. It includes a version of the Volcker rule, creates a consumer financial protection watchdog, and limits derivatives trading.

Big Banks May Have to Pay for Fannie and Freddie

Banks are up in arms over language added to the proposed financial regulation overhaul that would make big financial firms shoulder some of the cost if government-backed mortgage lenders Fannie Mae and Freddie Mac go bust.

Financial Reform Talks Enter Final, Frantic Stages

U.S. lawmakers today enter the final negotiations to complete the historic overhaul of the country's financial regulations. The focus is firmly on controversial provisions to limit banks' trading businesses and investments in private equity and hedge funds.

Congress Steps Up the Battle Over Card 'Swipe Fees'

An increasingly heated debate about so-called swipe fees, the estimated $48 billion that merchants pay to banks and credit card companies for the use of those ubiquitous debit card terminals, is taking place in Congress as it considers a package of reforms that could limit how much merchants can be charged for debit card transactions.

What to Do About
Fannie Mae and Freddie Mac?

Both firms are ending their listings on the NYSE What's not ending is the huge mountain of unpaid bills that has saddled taxpayers with perhaps as much as to $1 trillion in bad debt. And what's not apparent yet is any cogent plan for dealing with the mess.