The unfolding foreclosure fraud crisis centers on mortgage servicers, companies that collect and organize mortgage payments on behalf of banks. (Many are actually subsidiaries of big financial-service companies, like J.P. Morgan Chase.) When a homeowner misses payments, the servicers are meant to carefully review their financial statements and to notify More…
The big Senate vote was last week, but President Obama’s signature just made it official: The sweeping Frank-Dodd financial regulatory reform law is now on the books.
In a ceremony at the White House today, surrounded by policy experts and bankers, President Obama will sign the sweeping Dodd-Frank financial regulatory reform bill into law.
The final bill, more than 2,300 pages in length, directs regulators to create 533 new rules — applying to everything from debit cards More…
This afternoon, the U.S. Senate passed a sweeping financial regulatory reform bill, overhauling the regulation of everything from the biggest banks to consumer financial products to exotic instruments like credit-default swaps to the derivatives used by farmers. The bill passed 60 to 39.
[Congress1] Earlier on Thursday, Republicans Olympia More…
The Dodd-Frank financial regulatory reform bill — the product of 18 months of study and negotiation by Democratic and Republican lawmakers — this morning passed a decisive cloture vote, 60 to 38, with Republican Sens. Scott Brown (Mass.), Olympia Snowe (Maine) and Susan Collins (Maine) voting with Democrats to More…
Bloomberg polls the masses, and finds that they do not think much of the Dodd-Frank Wall Street reform bill. Some headline numbers:
CNN has done the hard work of parsing the Dodd-Frank financial regulatory reform bill, and has found that the final version calls for a whopping 68 studies — more than twice the number of previous estimates.
Instead of toughening up ethical and marketing standards for financial planners, Congress
Sen. Russ Feingold (D-Wis.), who did not vote for the Senate version of financial regulatory reform, not believing the bill strong enough, has indicated that he will not vote for this version either. Here is the full text of his press release:
“As I have indicated for some time
It is over. After a marathon 20-hour session, the conference committee reconciling the House and Senate versions of financial regulatory reform completed their work. All Democrats and no Republicans voted for the final package, and conference committee wrapped up around 5:40 a.m.
A version of both the Volcker Rule More…
Politico’s Morning Money reports that a proposal penciled — literally — into the financial regulatory reform bill in conference committee last night might put big Wall Street banks on the hook for the cost of winding down Fannie and Freddie — a cost that could reach into the hundreds More…
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