Posts by Mary Kane

It’s a big day for banks: The Obama administration is expected to unveil new “too big to fail” proposals for dealing with troubled financial giants, Reuters reports. The proposals would “give the government the power to dismantle large financial companies that get into crises.”
The new draft bill is expected to take a tougher stance toward [...]

As we noted on Wednesday, the House Financial Services Committee is in the midst of tackling financial regulatory reform, which has brought out the lobbyists in full force. Here’s just a small taste of the action so far: American Banker is reporting that the committee is close to carving out an exemption for community banks [...]

What seemed like a clear path ahead was upstaged by the health care battle.

When is this ever going to end? Conservative lawmakers are seizing on ACORN’s troubles to once again go after the Community Reinvestment Act, an anti-redlining law that somehow became a scapegoat for the housing crisis last year, the AP reports.
The 1977 Community Reinvestment Act was intended to end redlining, a practice in which banks in [...]

Henry Blodget at Clusterstock points out that Coke CEO Muhtar Kent penned a Wall Street Journal editorial that suggests people are fat and lazy all on their own, and not because of his company’s product. Kent wrote his pithy observations Wednesday to protest a possible soda tax to pay for health care reform.
From the Journal:

Former President Bill Clinton now says that letting Lehman Bros. fail was a mistake that wound up clinching the election for then-candidate Barack Obama, reports Money & Company, the L.A. Times’ Business blog. Clinton’s remarks came before a meeting of the World Business Forum in New York on Wednesday, and were first reported in The [...]

Stung by losses in states that either refused to authorize their high-rate, short-term loans or moved to limit finance charges, the industry isn’t ready to give up.

A new study out today from the University of North Carolina Center for Community Capital provides more evidence that deregulatory zealots have a lot to answer for when it comes to the mortgage crisis: State anti-predatory laws actually worked, slowing down foreclosures.
But, alas, the state protections were overruled by the Office of the Comptroller of [...]

CompuCredit, an Atlanta subprime lender that specializes in high-rate credit cards, payday loans, auto financing and debt collection, is part of the country’s leading coalition on financial literacy.

The Florida house that former Washington Redskins safety Sean Taylor bought for his family, and where he was shot and killed by an intruder, is headed for foreclosure. And his mother is struggling to hold on to her own home as well, The Washington Post reports.
When Taylor died without a will on Nov. 27, 2007, [...]