Bank reform talks fail, Dodd to go solo

Published - 03/19/2010 12:00 AM

WASHINGTON (Reuters) - Chances of a broad overhaul of U.S. financial regulation dimmed on Thursday after bipartisan Senate talks collapsed, jeopardizing a top Obama administration priority and boosting bank share prices. Senate Banking Committee Chairman Christopher Dodd warned that time was running out to pass legislation this year. He said he ... 

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Wachovia to Pay $160 Million to End Money Laundering Probe

Published - 03/18/2010 12:00 AM

Wells Fargo & Co.’s Wachovia Bank agreed to pay $160 million to resolve a criminal investigation of how drug cartels used the bank to launder money through Mexican exchange houses. The government agreed to defer prosecution on a criminal charge that Wachovia, once the fourth-largest U.S. bank, failed to ... 

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Fed seen renewing low rates, extended period vow

Published - 03/16/2010 12:00 AM

WASHINGTON (Reuters) - The Federal Reserve is expected to hold interest rates near zero at a meeting on Tuesday and renew its pledge to keep borrowing costs very low for a long time, but could note a brightening economic picture and hint at being closer to dropping the vow. ... 

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Senate financial bill appears likely to keep Fed as regulator of big banks

Published - 03/09/2010 11:00 PM

Key members of the Senate banking committee are coalescing around legislation that would strip the Federal Reserve of much of its regulatory authority but would leave the central bank with oversight of the nation's largest banks, according to aides familiar with the ongoing negotiations. Under the plan, the Fed would ... 

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Federal Reserve comes in from Senate deep freeze

Published - 02/25/2010 11:00 PM

WASHINGTON -- The Federal Reserve, once in danger of being stripped of its bank supervision powers by the Senate, is getting a second look from key lawmakers amid a new flurry of bipartisan negotiations over a massive overhaul of the rules that govern Wall Street. Senate Banking Committee Chairman Christopher Dodd, ... 

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How to Find Out if Your Bank Is Healthy

Published - 02/23/2010 11:00 PM

(Insurance Headlines) With the news Tuesday from the Federal Deposit Insurance Corporation that it is bracing for a new round of bank failures and has placed 702 lenders on its list of problem banks, the most since 1993, you may be wondering about the long-term prospects of your ... 

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Next Credit Card Statement is Going to Contain an Ugly Truth

Published - 02/22/2010 11:00 PM

NEW YORK (AP) -- Now, thanks to a long-awaited law that goes into effect Monday, you'll know that if you pay the minimum on a $3,000 balance with a 14 percent interest rate, it could take you 10 years to pay off. "Jaws will drop," said David Robertson, publisher of The ... 

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2010 Bank Failures Grow to 20

Published - 02/21/2010 11:00 PM

Though the economy is showing signs of a gradual recovery, bank failures continue as U.S. regulators on Friday closed down four more banks in California, Illinois, Texas and Florida. This brings the total number of bank failures to 20 so far in 2010, compared to 140 in 2009, 25 in ... 

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