Category Archives: Bank

GOP uses budget, other tools to sap financial law

By doris | Published: July 7, 2011

Full Story at news.Yahoo.com WASHINGTON (AP) — Congressional Republicans are greeting the one-year anniversary of President Barack Obama’s financial overhaul law by trying to weaken it, nibble by nibble. Wary of attempting to dismantle the entire statute and being portrayed as Wall Street’s allies — banks are among the nation’s most unpopular institutions — GOP [...]

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Is the debt ceiling unconstitutional?

By doris | Published: July 2, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Amid fears the United States risks default if lawmakers don’t raise the debt ceiling on time, some are suggesting President Obama could save the day by big-footing Congress. How? By invoking the Constitution and directing Treasury Secretary Tim Geithner to keep borrowing even if it means going [...]

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Senate rejects plan to delay cap on debit fees

By doris | Published: June 8, 2011

Full Story at msnbc.com WASHINGTON — The U.S. Senate rejected on Wednesday a measure to delay a cap on what banks can charge merchants when a debit card is used. The vote was a major defeat for the banking industry, which stands to lose billions of dollars when the cap goes into effect later this [...]

Also posted in Bill, Card, Federal, Law, Senate | Leave a comment

Banks want a favor — at your expense

By doris | Published: April 11, 2011

Full Story at CNN.com Washington (CNN) — You might think the big banks would be too embarrassed to ask Congress for more special favors. You think wrong. The big banks are pressing Congress for a favor that will cost the average American household $230 a year. The bankers argue that the favor is needed to [...]

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Wall Street reform: On to Obama

By doris | Published: July 16, 2010

Full Story at money.cnn.com WASHINGTON (CNNMoney.com) — The Senate on Thursday afternoon passed the most sweeping set of changes to the financial regulatory system since the 1930s, sending the Wall Street reform bill to President Obama. The Senate voted 60 to 39 to pass the reforms, ending more than a year-long effort to pass legislation [...]

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House, Senate clawing to Wall Street bill finish

By doris | Published: June 25, 2010

Full Story at money.cnn.com WASHINGTON (CNNMoney.com) — Lawmakers are closing in on melding two different versions of Wall Street reform. Late Thursday evening, lawmakers had just started to tackle one of the last and more controversial issues: Cracking down on the big banks’ investment activities and risky bets.

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Wall St. reform vote fails again in Senate

By doris | Published: May 20, 2010

Full Story at msnbc.com WASHINGTON – In a setback for the Obama administration, Senate Democrats failed to muster enough votes on Wednesday to end debate on the biggest overhaul of financial regulation since the 1930s, delaying a vote on passage.

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As banks repay bailout cash, U.S. sees a profit

By doris | Published: August 31, 2009

Full Story at msnbc.com Nearly a year after the federal rescue of the nation’s biggest banks, taxpayers have begun seeing profits from the hundreds of billions of dollars in aid that many critics thought might never be seen again. The profits, collected from eight of the biggest banks that have fully repaid their obligations to [...]

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Obama: Banking system needs new regulation

By doris | Published: July 23, 2009

Full Story at msnbc.com WASHINGTON – The financial system has stabilized but needs new regulations to curtail behavior and practices that led to the meltdown that brought Wall Street to the brink of collapse, President Barack Obama said Wednesday night in a prime-time press conference at the White House. The president specifically mentioned regulatory changes [...]

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Hawaii senator helps bank he founded get aid

By doris | Published: July 1, 2009

Full Story At msnbc.com WASHINGTON – Sen. Daniel K. Inouye’s staff contacted federal regulators last fall to ask about the bailout application of an ailing Hawaii bank that he had helped to establish and where he has invested the bulk of his personal wealth. The bank, Central Pacific Financial, was an unlikely candidate for a [...]

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Bank CEOs: We’ll work with Obama on crisis

By doris | Published: March 29, 2009

Full Story At msnbc.com WASHINGTON – Top executives of the nation’s biggest banks said Friday after meeting with President Barack Obama that they will work with the administration on its economic recovery plans, but want more specifics from the White House. Bankers said an administration proposal to jump-start lending, a problem at the heart of [...]

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Senate will delay action on tax on bonuses

By doris | Published: March 24, 2009

Full Story At  msnbc.com WASHINGTON – Jarred by a cool reception from the White House and fears of unintended consequences across the financial world, Senate leaders are likely to delay until late next month legislation to punitively tax bonuses at banks and investment firms that receive federal aid.

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