Wall Street’s biggest lobbying groups banded together to sue the Commodity Futures Trading Commission, seeking to curb the overseas reach of its rules and rein in a regulatory barrage by its departing Chairman Gary Gensler.
Former Washington Mutual Inc. Chief Executive Officer Kerry Killinger and two other bank officials are in settlement talks with the Office of the Comptroller of the Currency, the last chapter in the government’s probe of the largest U.S. bank failure.
President Barack Obama must name a Commodity Futures Trading Commission member with the experience needed to ward off Wall Street lobbying over the Volcker rule and speculation limits, nine Democratic senators said.
The U.S. Senate changed its rules to let a simple majority confirm most presidential nominees, defying opposition from Republicans who called it the most dangerous revision of its process in more than two centuries.
The most significant change in three decades in how the Senate approves presidential nominees could make one of the least productive Congresses even more gridlocked, endangering efforts to raise the nation’s debt ceiling and fund the government, Republicans say.
U.S. companies would face a minimum tax on the income they earn around the world under a plan released today by Senate Finance Chairman Max Baucus that marks his most significant proposal to revamp the tax code.