New York’s Attorney General Andrew Cuomo filed civil securities fraud charges Thursday against Bank of America*, its former CEO Ken Lewis, and former CFO Joe Price. The suit alleges that the bank and the two executives first misled shareholders and … Continue reading
White House adviser and former Fed chairman Paul Volcker will testify before the Senate Banking Committee Tuesday and press its members to restrict the activities of big banks and limit their overall size. In making the case for what’s become … Continue reading
UPDATED 4:45 p.m. ET| Tonight on the NewsHour, Treasury Secretary Tim Geithner explains the thinking behind the president’s proposal. He will be followed by Rep. Scott Garrett (R-NJ), a member of the House Financial Services Committee. In a fresh move … Continue reading
Turning the focus from health care to the economy, it was widely reported Thursday morning that President Obama is set to propose new regulations that would limit the size of the nation’s largest banks and the scope of the risky … Continue reading
With Wall Street banks poised to offer record paydays for employees, Wall Street Journal columnist Dennis Berman explains the latest bank earnings reports and Wall Street’s reaction to the Obama administration’s proposed tax on big banks.
The Federal Reserve wrapped up its final policy meeting of the year on Wednesday, and, as expected, announced it would keep rates near zero “for an extended period.” Following two-days of meetings, the central bank’s Federal Open Market Committee voiced … Continue reading
British bankers’ bonuses will be a lot lighter this holiday season, thanks to a one-time, 50 percent tax imposed on bank bonuses, announced Wednesday by Britain’s chancellor of the Exchequer, Alistair Darling. Bonuses greater than 25,000 British pounds (about $40,600) … Continue reading
Paul Solman: We asked a number of people in the personal finance business and others close to the credit crisis to weigh in on the Obama administration’s new consumer protection proposal. I’m struck by Doug Elliott’s admonitions, especially his last … Continue reading