financial regulation

Rep. Brad Sherman (D-Calif.), a vocal critic of exorbitant executive pay, fears new legislation will give competitive advantage to the biggest banks.

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 [...]

The Washington Post reports that President Obama today will roll out his plan to increase regulation of the financial system.
The plan seeks to overhaul the nation’s outdated system of financial regulations. Senior officials debated using a bulldozer to clear the way for fundamental reforms but decided instead to build within the shell of the existing [...]

A group of liberal House Democrats on Tuesday unveiled legislation that would cap credit card rates at 18 percent. This should not to be confused with the push to freeze rates on existing balances, which made headlines last week — the Democrats’ cap would apply to future transactions as well.

JPMorgan Chase CEO Jamie Dimon shared his thoughts on curing the financial crisis today in Washington. Basically, he said, things would get better if we all would just quit picking on corporate America. Dimon offered that insight during a speech before a conference sponsored by the U.S. Chamber of Commerce, in which he also said [...]

The New York Times took a stab at getting people who work on Wall Street to defend taking in more than $18 billion in bonuses — roughly the amount that was paid out in 2004, when the economy was just slightly different – and found that most aren’t owning up to ever getting the money.
From [...]

Congressional Democrats may be pushing for some concessions from the finance industry in return for the billions they’re receiving in taxpayer bailouts, but President George W. Bush has other ideas. From today’s Washington Post: