At the Huffington Post, Ryan Grim reports that Sen. Tom Harkin (D-Iowa) and Rep. Greg Meeks (D-N.Y.) are attempting to insert an insurer-friendly change into the conference committee’s version of financial regulatory reform. “The measure would exempt securities products created by insurance companies from regulation, leaving the job More…
Yesterday afternoon, House and Senate Democrats reconciling the two versions of financial regulatory reform announced a compromise on debit card fees — an issue of contention and the subject of fierce lobbying by companies like Visa and MasterCard. The compromise on the provision, initially authored by Sen. Richard Durbin More…
News out of the conference committee splitting the differences between the House and Senate versions of financial regulatory reform: The Consumer Financial Protection Agency, a new federal rule-making body charged with protecting the interests of consumers, will be housed inside the Federal Reserve. The House version of financial regulatory More…
Last week, I noted that House Republicans had introduced a motion to penalize strategic defaulters — underwater homeowners who simply stop paying their mortgages and surrender their homes to the bank — by barring them from obtaining Federal Housing Administration-backed loans in the future. I hadn’t noticed until More…
Mike Konczal, Roosevelt Institution fellow and the blogger known as Rortybomb, tells us how to get the best out of the House and Senate FinReg bills, focusing on a few crucial provisions:
The conference committee to reconcile the House and Senate versions of the financial regulatory reform bill is just minutes away from starting. Those who want to watch the televised portions can head here. I’ll turn to The American Prospect’s Tim Fernholz for a good explanation of how this More…
Sen. Chris Dodd (D-Conn.) and Rep. Barney Frank (D-Mass.) — the heads of the Senate Banking and House Financial Services committees — have set an ambitious schedule in order to complete the financial regulatory reform process before the White House’s July 4 deadline. Yesterday afternoon, The Wall Street Journal More…
The House-Senate financial reform conference committee is gearing up, with the House due to name its members some time next week and the process due to be done by July 4. But the negotiations to merge the House and Senate versions of the financial regulation bill — under intense lobbying More…
Politico’s Morning Money has the text of a memo by Rep. Barney Frank (D-Mass.), outlining his plans for the upcoming conference committee to reconcile the House and Senate financial regulatory reform bills. Frank, who is heading the committee, apologizes to the members who will not make it on and More…
Morning Money has posted a Goldman Sachs research report, and it seems the investment bank is spooked by just one thing in the financial regulatory reform bill: Sen. Blanche Lincoln’s (D-Ark.) derivatives spin-off language.
To the extent that strains in European sovereign debt and short-term money markets cause broader
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