Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
US prosecutors are considering a criminal charge against a unit of HSBC Holdings Plc related to conduct on its foreign-exchange desk, according to two people familiar with the matter, imperiling an earlier deal that let the bank avoid prosecution. [NEW YORK] US prosecutors are considering a criminal charge against a unit of HSBC Holdings Plc related to conduct on its foreign-exchange desk, according to two people familiar with the matter, imperiling an earlier deal that let the bank avoid prosecution.
Donald Trump's attempts to show affection for Mike Pence -- and the Indiana governor's apparent resistance with a stiff arm -- led to an "air kiss" from the Republican presidential nominee to his running mate Wednesday. The exchange between the two men who are still getting to know each other was teased on social media.
Boeing executives are mischaracterizing Congressional efforts to block a controversial $25 billion aircraft sale to Iran, according to lawmakers who spoke to THE WEEKLY STANDARD about statements by executives from the aerospace company. The lawmakers reiterated calls on Boeing to drop its planned sale to Iran Air, whose planes have been used by the Iranian military to transport weapons, according to the Obama administration.
Regulators' calculations were "were wrong when it came to subprime mortgages [and] they were wrong when they were talking about Greek debt," said Rep. Scott Garrett in support of banks hitting a non-risk-based leverage ratio. The debate over a Republican bill to overhaul the Dodd-Frank Act is increasingly focused on two widely different philosophies about capital regulation, which were both on display at a hearing Tuesday.
Federal Reserve Chair Janet Yellen came under fire Wednesday from House Republicans who charged that the central bank's politics to promote low interest rate have not boosted economic growth and have left financial markets confused about its next moves. House Financial Services Committee Chairman Jeb Hensarling, R-Texas, said that the Fed and the Obama administration have failed to produce the kind of economic policies needed to fuel the strong growth the country has needed over the past seven years in the wake of the 2007-2009 recession.
A Federal Reserve official went out of his way Wednesday to rebut Republican criticisms of the new financial regulations, by saying the central bank has made progress toward ending the problem of "too big to fail" banks. Republicans have argued that bankruptcy is the best option for banks, instead of having the government wind them down, and have also said the Dodd-Frank financial reform law enshrines the problem of too-big-to-fail banks because they can be saved by the government if they fail.
The State Department said Tuesday it welcomes Boeing's announcement of a deal with Iran Air, and that it involves the "type of permissible business activity envisioned" in the Iran nuclear deal. "The State Department welcomes Boeing's announcement of this deal with Iran Air," State Department press secretary John Kirby said at a briefing.
The chairman of the House Financial Services Committee's call to strip the Financial Stability Oversight Council of the ability to designate insurers and others as systemically important financial institutions leaves unanswered the question of how insurance groups should be regulated. In remarks prepared for an address to the Economic Club of New York last week, Rep. Jeb Hensarling, R-Texas, outlined details of the Financial CHOICE Act, a Republican plan to replace the Dodd-Frank Wall Street Reform and Consumer Protection Act.
NCUA Board Chairman Rick Metsger reiterated his commitment to maintaining the safety and soundness of the credit union system, continuing to provide regulatory relief to the industry and the possibility of moving to extended exam cycles in a letter to House Financial Services Committee Chairman Jeb Hensarling, R-Texas. In Tuesday's letter , Metsger outlined his priorities for the future of the agency, including ensuring NCUA uses its resources "strategically and efficiently."
House Financial Services Committee Chairman Jeb Hensarling, R-Texas, outlined an alternative to the Dodd-Frank Act that would include regulatory relief - including the repeal of "federal price controls" in the Durbin amendment - during a speech at the Economic Club of New York Tuesday. Hensarling said his bill will "provide much-needed relief to community financial institutions that are being crushed by Washington's 'one-size-fits-all' regulatory approach."
House Financial Services Cmte Chairman Jeb Hensarling's Dodd-Frank replacement plan is "ill-conceived" and "clear example of how much is at stake in this election," Hillary Clinton campaign adviser Gary Gensler says in statement.
House Financial Services Committee Chairman Jeb Hensarling is slated to preview legislation offering an alternative to Dodd-Frank, which he says is hurting the economy, during a speech at the Economic Club of New York Tuesday morning. The Texas Republican has been a staunch critic of the 2010 Wall Street reform act placing additional regulations on financial institutions, saying it is hurting the economy and calling for it to be repealed and replaced.