Soon after Rep. Brad Miller (D-N.C.) came to Washington in 2002, a fellow member of the House Financial Services Committee told him to pick an arcane financial issue — any issue — and to make it his pet topic. Miller chose mortgage finance. He knew little about it. Banking lobbyists More…
This morning, President Barack Obama plans to officially announce that Elizabeth Warren — Harvard Law professor and the current head of the Congressional Oversight Panel over the Troubled Asset Relief Program — will head the Consumer Financial Protection Bureau.
[Congress1] Well, sort of. After months of will-he-or-won’t-he speculation by journalists, More…
As of yesterday, banks need to ask customers whether they would like to be allowed to overdraw their checking accounts for a fee, usually $35. About 70 percent of Americans are expected to do nothing or say no to this overdraft protection, meaning their banks will start rejecting transactions More…
Wall Street giving to Democrats is down this election cycle, and Republicans are having even worse luck tapping into bankers’ largess. But Rep. Eric Cantor (R-VA), the House minority whip, is cleaning up:
The Dodd-Frank financial regulatory reform bill is now law. And a few unintended consequences of the enormously complex, very long bill are coming to light. The Wall Street Journal reports on one provision spooking the ratings agencies:
The nation’s three dominant credit-ratings providers have made an urgent new request of
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…
Today, more stories are adding detail to the debate over whether Elizabeth Warren should become the first head of the Consumer Financial Protection Bureau.
The discussion kicked off after the final passage of the Dodd-Frank financial regulatory reform bill, which will become law when President Obama signs it tomorrow. More…
Rep. John Boehner (R-Ohio) is calling for a government moratorium on new regulations for one year, according to Talking Points Memo, with new regulations only coming if there is an “emergency.” I’ll just note that regulations are generally designed to prevent emergencies, rather than to respond to them, and More…
The Dodd-Frank financial regulatory reform bill — passed out of Congress yesterday and headed for President Obama’s desk next week — runs for 2,300 pages, directs regulators to create more than 500 new rules and orders 68 studies. It is a complicated piece of work. As such, there are More…
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