Tagged: financial regulatory reform

Lobbying the financial reform act

Intense lobbying is under way over the Dodd-Frank financial regulatory reform act, with federal agencies needing to fill in the details of at least 243 financial rules and conduct 67 studies before implementing the most sweeping such law since the 1930s.  Political science Professor Graham Wilson, author of “Business and Politics,” says citizens should be […]

The consumer “watchdog” fight

A battle is brewing over who President Obama should nominate as the new consumer “watchdog” under the new financial regulatory reform law after he signs it.  Consumer advocates and activist groups are pressing him to tap outspoken Harvard Law Professor Elizabeth Warren, who now chairs the congressional panel overseeing the federal bailout of the nation’s banks.  […]

Financial regulatory reform passed

With the Senate finally passing the complex financial regulatory reform law and sending it to President Obama for his signature, the work now turns to the hundreds of regulations and dozens of studies which must be completed to implement the most sweeping financial reform since the Great Depression. But while regulators work on all of […]

To bank regulator stepping down

In a surprise announcement, Comptroller of the Currency John Dugan (r.) says he will step down next month as the top U.S. bank regulator.  Appointed by President George Bush, Dugan was instrumental in shaping the “stress tests” for the largest financial institutions, but often sparred with FDIC Chairwoman Sheila Bair about consumer matters.  Former Federal Reserve […]

The weak link in bank reform

The financial regulatory reform legislation likely to be sent soon to President Obama calls for the biggest banks and hedge funds to put up some $20 billion in fees to pay the costs of additional oversight by regulators.  But even that won’t help regulators don’t quickly upgrade the training and standards of rank-and-file examiners, says Mark […]

Brown gets reform bill changed

By threatening to withhold his vote for the final compromise, Massachusetts GOP U.S. Senator Scott Brown (l.) got the Democratic negotiators on the financial regulatory reform bill to delete a $19 billion fee on large financial institutions to cover costs of implementing the new law.  Law Professor Cornelius Hurley, director of the Morin Center for […]

Wall Street reform bill threatened

The death of U.S. Senator Robert Byrd (r.) is threatening to delay passage of the sweeping Wall Street regulatory reform legislation until mid-July after it had been on track for House and Senate votes this week.  Law Professor Cornelius Hurley, a former counsel to the Federal Reserve Board of Governors and now director of the Morin […]

Financial regulatory bill agreed on

House and Senate conferees finally worked out a compromise bill aimed at reshaping financial regulations to avoid another Crash of ’08, with a final vote set for next week and President Obama expected to sign it by July 4th.  As expected: many winners and losers.  One controversial provision gives the SEC authority to require stockbrokers to […]

Deadline for financial regulatory reform

Congress is down to its self-imposed deadline to come up with a financial regulatory reform bill, leaving some of the most controversial provisions — like how to deal with the trading of derivatives — to the final hours.  Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former […]

Financial regulatory reform showdown

House and Senate conferees hope to wrap up this week the final version of financial regulatory reform legislation to send to President Obama, with chairmen Barney Frank and Chris Dodd delicately trying to compromises without losing votes for the overall package.  What do about the trading of derivatives – the complex financial packages which helped sink […]