regulation

Legal Briefing: The Strong Push to Regulate Derivatives

One of the biggest battles in financial reform is whether derivative trades will move out of the shadows into a public exchange. Derivatives played a major role in the financial meltdown, but because private trades are highly profitable, big banks and their GOP allies are fighting hard against reformers' push for new regulations.

Banks Find Clever Ways Around New Credit Card Rules

Consumers should have seen it coming a mile away. In May, the federal government signed into law the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009, which included lots of new rules designed to protect consumers from predatory practices by banks and credit card companies, such as hidden fees and sky-high interest rates. The new rules, which go into full effect on February 22, threaten to take a big bite out of the $15 billion in penalties and fees that the industry collects each year. So what have banks and card issuers done? They've come up with new fees.

Former Bank of America Employee Tells All in Video

Jackie Ramos, a former "customer advocate" from the collections department at Bank of America, posted a video on YouTube in which she offers an inside scoop on the practices of the bank. Ramos says that while her former employer encouraged her to "do the right thing for the customer," she soon came to realize that her job was actually to squeeze as much money as possible from the company's cardholders.

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An arms race has begun in the secretive world of high frequency trading, the practice of making a high number of trades netting small gains that can...

G-20 wants to curtail bank actions

The G-20 finance ministers want to cut short-term bank risk and put in long-term capital requirements that should, in theory, prevent a repeat of the...

The true cost of online privacy

Do you like your privacy? I bet you do. What about being able to read all kinds of stuff on the internet without having to hand over your credit card...

How Washington can fix executive pay

As The New York Times reports, "The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and...