Federal Reserve Bank of Chicago President Charles Evans on Friday said investors may still expect ailing financial institutions to be bailed out by governments despite reforms aimed at reversing market psychology. Get the full story »
Inside these posts: Dodd-Frank
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JPMorgan CEO: Wealthy should carry tax burden
The wealthy should pay the largest portion of U.S. taxes, JPMorgan Chase Chief Executive Jamie Dimon said Tuesday, injecting himself into the budget debate as the threat of a government shutdown looms. Get the full story »
SEC mulls rules on compensation committees
U.S. securities regulators proposed rules Wednesday that would require publicly listed companies to have independent compensation committees and make key disclosures about their use of compensation consultants. 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.
ICE: Exchange mergers a consequence of reforms
Mergers sweeping financial exchanges are in part an unintended consequence of global financial regulatory reforms, the head of IntercontinentalExchange Inc. said Wednesday. Get the full story »
Bills introduced to delay debit-card swipe-fee limits
Sen. Jon Tester (D-Mont.) and a bipartisan group of U.S. senators on Tuesday formally launched their legislative attack on the Federal Reserve’s plan to regulate debit-card transaction fees, a move cheered by banks and credit unions but slammed by retailers.
The bill, dubbed the Debit Interchange Fee Study Act, comes amid mounting concerns over the Fed’s proposed fee caps and calls for a two-year time out on the regulation. Get the full story »
JPMorgan mulls $50 cap on debit card purchases
Your debit card may soon be denied for purchases greater than $100 — or even as little as $50.
JPMorgan Chase, one of the nation’s largest banks, is considering capping debit card transactions at $50 or $100, according to a source with knowledge of the proposal.
Why? Because of interchange fees. Get the full story »
SEC seeks status reports from fund managers
The Securities and Exchange Commission issued draft proposals Tuesday to require hedge fund and other private fund advisers to file periodic reports with regulators seeking to assess threats to the financial system. Get the full story »
ICE withdraws application to clear derivatives
ICE Trust, the unit of exchange operator IntercontinentalExchange Inc. dedicated to clearing credit-default swaps, has withdrawn its application to be a derivatives clearing organization registered with the Commodity Futures Trading Commission in response to changes proposed by the regulator.
ICE filed the application Nov. 12, but a spokeswoman told Dow Jones Newswires on Thursday that it decided to withdraw it, “given the significant changes proposed to the commission regulations” for derivatives-clearing organizations, or DCOs. Get the full story »
SEC lets bond issuers skirt Dodd-Frank
Bloomberg News | The Securities and Exchange Commission has indefinitely extended a rule exempting asset-backed bond issuers from reporting credit ratings in their marketing materials, undermining part of the Dodd-Frank financial reform law.
