A banner week for GOP’s agenda to ease burdens on banks

On Thursday, President Trump signed the biggest rewrite of the 2010 Dodd-Frank law since President Barack Obama signed it after the 2008 financial crisis. President Trump and congressional Republicans, with the help of some Democrats, are enjoying a sudden burst of progress in their agenda to lighten regulations on the financial industry.

US inspired by Aadhaar: Lawmakers believe biometrics better option than social security number

Amid reports of massive breach of social security numbers along with identity theft, US lawmakers, encouraged by India's Aadhaar, explored the possibility of biometrics as an option, but privacy issues prevented experts from arriving at a consensus. In the US, a Social Security Number is a nine-digit number issued to American citizens, permanent residents and temporary working residents.

Fannie Mae advocacy ban doesn’t stop lawyer from pushing views

For nearly a decade, a top housing regulator has restricted Fannie Mae and Freddie Mac from trying to influence the raging debate over whether they should live or die. But despite those limits, a top Fannie Mae executive has done just that over the past few months, quietly meeting with people inside and outside President Donald Trump's administration, according to people familiar with the matter.

Financial Services Weekly News – May 2018 #3

In This Issue. The Consumer Financial Protection Bureau published its Spring 2018 rulemaking agenda; the U.S. Department of Housing and Urban Development announced that it will seek public comments on whether its 2013 Disparate Impact Regulation is consistent with the 2015 U.S. Supreme Court ruling in Texas Department of Housing and Community Affairs v.

Trump’s pick to run Labor’s pension agency: Mitch McConnell’s brother-in-law

That might be welcome news for Trump voters who want the president to fulfill a promise to "drain the swamp" and rid the capital of the politically connected. Yet his nominee, Gordon Hartogensis, is well known to some of Washington's most politically influential: He is the brother-in-law of Senate Majority Leader Mitch McConnell and his wife, Transportation Secretary Elaine Chao.

Berry, Morphis flesh out their stances in District 68 race

A few months after announcing their intentions to run for an open state House seat in a district near Russellville, two Republicans facing each other in the primary have better formed their messages for the voters. When the campaign began in early February, neither candidate offered a clear idea of what each wanted to accomplish if elected to succeed outgoing state Rep. Trevor Drown, R-Dover.

Royal Bank of Scotland tentatively settles US$4.9b claim

Royal Bank of Scotland, RBS, said on Thursday it has agreed to pay US$4.9 billion to settle US claims that it misled investors who bought securities backed by risky mortgages in the run-up to the 2008 financial crisis. The tentative settlement with the US Department of Justice marks a watershed moment for RBS, which was bailed out by British taxpayers after a series of acquisitions briefly made it the largest bank in the world before it collapsed a decade ago.

UPDATE 1-‘Humbling’ U.S. settlement clears crisis-era hangover for RBS

Shares in Royal Bank of Scotland rose as much as 6 percent on Thursday after it secured a far lower than expected settlement with U.S. authorities, paving the way for a long-awaited return of cash to British taxpayers who provided support during the financial crisis. The $4.9 billion fine resolves a U.S. Department of Justice investigation into the bank's sale of mis-priced mortgage-backed securities before the financial crisis and clears one of the most debilitating hangovers for the bank from that era.

Royal Bank of Scotland tentatively settles US claims

Royal Bank of Scotland said Thursday it has agreed to pay $4.9 billion to settle U.S. claims that it misled investors who bought securities backed by risky mortgages in the run up to the 2008 financial crisis. The tentative settlement with the U.S. Department of Justice marks a watershed moment for RBS, which was bailed out by British taxpayers after a series of acquisitions briefly made it the largest bank in the world before it collapsed a decade ago.