Today and tomorrow, Ben Bernanke, the chairman of the Federal Reserve, is delivering his twice-yearly Monetary Policy Report to Congress and taking questions — today from the Senate Banking Committee, tomorrow from the House Financial Services Committee.
Bernanke’s prepared testimony is more cautious than his last, given More…
Rather than taking a fourth cloture vote, the Senate just agreed to start formal debate on Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill by unanimous consent.
Earlier this afternoon, Senate Minority Leader Mitch McConnell (R-Ky.) said Republicans would no longer stand in opposition to the bill reaching the More…
Talking Points Memo reports that Sen. Richard Shelby (R-Ala.), the ranking member of the Senate Banking Committee, says Republicans are close to supporting Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill. “We’re very close to a deal and there will be a substantial number of Republicans that go along More…
If you want to know why some consumer advocates and others are concerned about current financial regulatory reform proposals to house a Consumer Financial Protection Agency within the Federal Reserve, look no further than the experience of the Fed’s own Consumer Advisory Council.
The Council, which has generally drawn little More…
Following last night’s speedy passage of sweeping finance reforms in the Senate Banking Committee, much of the focus has been on the Republicans’ strategy to take the fight over the bill to the Senate floor, rather than pushing amendments during what was supposed to have been a long-drawn More…
The head of the Senate Banking Committee, Connecticut Democrat Chris Dodd, announced this morning that a long-awaited proposal to install sweeping new oversight of the finance industry will be unveiled Monday.
Okay, maybe it’s not so sweeping.
So says The Washington Post, reporting this morning that, for the sake of passing banking reforms this year, the White House is willing to drop its insistence on a stand-alone consumer protection agency — an idea championed by a number of consumer advocates, including Elizabeth Warren, More…
Bad news for consumer advocates who experienced a flutter of hope this week when Sen. Chris Dodd (D-Conn.) swapped Sen. Richard Shelby (R-Ala.) — an opponent of creating a consumer financial protection agency — for Sen. Bob Corker (R-Tenn.) at the finance reform negotiation table: Corker More…
Robert Gibbs, White House press secretary, was asked today whether the administration will insist on the creation of a separate consumer financial protection agency as part of the year’s plans for banking reform. His response should encourage the consumer advocates pushing for that agency.
The president still believes
And not just on health care reform. Sen. Chris Dodd (D-Conn.), head of the Banking Committee, announced this morning that, after weeks of financial reform negotiations with the panel’s senior Republican, Sen. Richard Shelby (Ala.), the two sides “have reached an impasse.”
While I still hope that we will ultimately
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