Inside these posts: U.S. Chamber of Commerce

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JPMorgan’s Dimon: No mortgage writedowns

JPMorgan CEO Jamie Dimon, right, at a conference on global capital markets competitivene in Washington, D.C (Andrew Harrer/Bloomberg)

The head of JPMorgan Chase said Wednesday that banks would not consider writing down mortgages for homeowners who can’t make payments, an idea at the center of talks aimed at fixing the mortgage mess.

“Principal writedown for people who couldn’t pay their mortgages? Yeah, that’s off the table,“ JPMorgan Chase CEO Jamie Dimon said when asked about the idea after an appearance before a U.S. Chamber of Commerce forum in Washington. Get the full story »

Warren vs. Dimon on financial regulation

Elizabeth Warren, left, and Jamie Dimon. (AP Photo/Manuel Balce Ceneta; Simon Dawson/Bloomberg)

Elizabeth Warren, the Obama administration’s defender of financial consumers, will venture into the corporate lion’s den this week, along with Jamie Dimon, CEO of banking giant JPMorgan Chase & Co.

The two will be speakers at an event set for Wednesday at the U.S. Chamber of Commerce, the country’s largest business lobbying group, in its Corinthian-columned headquarters situated within view of the White House.

U.S. cracks down on hiring of illegal immigrants

The federal government is requiring as many as 1,000 companies to turn over their employment records for inspection, part of an expanding crackdown on businesses suspected of hiring illegal immigrants, according to people close to the Department of Homeland Security.

The audits, which the government is expected to make public in the next few days, represent the biggest operation since 2009. At that time, Immigration and Customs Enforcement, a DHS unit, conducted an auditing sweep of businesses working in public safety and national security. Get the full story »

Obama urges overhaul of ‘burdensome’ tax code

President Barack Obama speaks at the U.S. Chamber of Commerce on Feb. 7, 2011 in Washington. (Mark Wilson/Getty Images)

President Barack Obama said Monday he wanted to lower the corporate tax rate and pay for it by eliminating tax loopholes, and requested support from the business community to achieve that goal.

“Another barrier government can remove is a burdensome corporate tax code with one of the highest rates in the world,” Obama said in a speech to the U.S. Chamber of Commerce.

Obama’s visit to the powerful business lobby group is his latest effort to improve relations with the corporate world and shift to the political center, following big losses for his Democrats in November elections. Get the full story »

Chamber head cautiously optimistic about economy

The president of the U.S. Chamber of Commerce straddled the Democratic and Republican divide Tuesday, endorsing the GOP drive to repeal President Barack Obama’s signature health care law, yet supporting the White House on immigration and new spending to spur the economy. Get the full story »

SEC delays proxy access rule during challenge

U.S. regulators Monday delayed implementation of their rule giving shareholders more power to influence corporate boards, a win for business groups trying to overturn the rule.

The U.S. Chamber of Commerce and Business Roundtable sued the Securities and Exchange Commission last week, saying its recently adopted rule was arbitrary and capricious. Get the full story »

U.S. business groups sue SEC over proxy access

The U.S. Chamber of Commerce and the Business Roundtable sued the Securities and Exchange Commission Wednesday over its rule giving shareholders an easier way to influence corporate boards. Get the full story »

Investors get more power to nominate directors

The Securities and Exchange Commission on Wednesday approved changes that make it easier for shareholders to nominate directors of public companies.

The 3-2 vote allows groups that own at least 3 percent of a company’s stock to put their nominees for board seats on the annual proxy ballot sent to all shareholders. The new financial overhaul law enacted last month gave the SEC the authority to make the change. Get the full story »

Business wants hearings on Bush tax cuts

The biggest U.S. companies stepped up their lobbying Monday to block Democrats’ plans to let taxes on wealthier Americans rise at year’s end, asking lawmakers not to cut short the hearing process in Congress.

The Senate is set to take up expiration of tax cuts on nearly all individuals enacted under former President George W. Bush when it reconvenes in September. The thorniest issue involves taxes for the top income classes — families earning at least $250,000 a year — which President Barack Obama and most Democrats want to let expire. Get the full story »

U.S. Chamber: Obama neglecting jobs

One of the most influential U.S. business groups accused President Barack Obama on Wednesday of neglecting job creation and slowing economic uncertainty with burdensome tax and regulatory policies.

The U.S. Chamber of Commerce released the letter before a “Jobs for America” summit it is hosting and on the same day Obama’s Council of Economic advisers is releasing a report that shows the president’s policies are creating jobs and stimulating the economy. The letter adds to growing criticism the Obama administration has faced lately from the business sector. Get the full story »