Inside these posts: Financial reform

Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.

 

Reform bill spares ShoreBank a bailout probe

From Crain’s Chicago Business |  The financial reform bill was stripped of a provision calling for an FDIC examination of all bank bailouts since January 2009, sparing ShoreBank such an investigation.

Lawmakers reach a deal on financial reform

House Financial Services Committee Chairman Barney Frank (D-Mass.) talks with a group including Rep. Spencer Bachus (R-Ala.), left, during a recess from a committee conference on Wall Street reform. (Jonathan Ernst/Reuters)

Ending more than two weeks of often-contentious negotiations, House and Senate lawmakers reached agreement early Friday on the most far-reaching rewrite of financial rules since the Great Depression.

The final details, including creation of an agency to protect consumers in the financial marketplace and new regulations to reduce risk-taking by large banks and limit their trading of complex derivatives, were hashed out in a marathon 20-hour session that began Thursday morning.

Lawmakers on a joint conference committee labored until dawn reconciling House and Senate versions of the legislation in time for President Obama to brief foreign leaders on the completed deal at a major economic summit in Canada starting Friday.
Get the full story »

Even with new rules, life goes on for Wall Street

Despite historic changes to the rules on Wall Street from financial reform, banks like Goldman Sachs Group Inc, JPMorgan Chase & Co and Morgan Stanley won concessions that watered down the proposals that could have been most damaging to their profits, staving off a watershed overhaul like the one that took place after the Great Depression. Get the full story »

Senate approves sweeping financial reform bill

Reuters | The U.S. Senate approved a sweeping Wall Street reform bill on Thursday night, capping months of wrangling over the biggest overhaul of financial regulation since the 1930s.

By a vote of 59 to 39, the Senate handed a victory to President Barack Obama, a champion of tighter rules for banks and capital markets following the 2007-2009 financial crisis that led to a deep recession and massive taxpayer bailouts.