Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell reported their net worth in the millions of dollars as the U.S. Senate released personal financial disclosure reports for its members.
A court ruling that cast doubt on the authority of its director has hampered the U.S. Consumer Financial Protection Bureau, slowing some enforcement, impeding recruitment of a second-in-command and delaying joint ventures with the states, people briefed on the agency’s work said.
A federal judge expressed “concern” that the U.S. scared off American International Group Inc. from joining a lawsuit by Maurice “Hank” Greenberg, its former chairman, challenging the insurer’s 2008 federal bailout.
Almost three years ago, when Goldman Sachs Group Inc. paid $550 million to settle fraud accusations by the Securities and Exchange Commission, one of the claims was that Goldman misled the bond-insurer ACA Financial Guaranty Corp. in a horribly complex deal named Abacus.
U.S. Senator Elizabeth Warren has questioned three more federal agencies’ enforcement practices by asking if they’ve studied the costs of favoring settlements with big financial firms over taking them to trial.
The U.S. Senate will vote next week on whether to advance Richard Cordray’s confirmation to lead the Consumer Financial Protection Bureau, according to Adam Jentleson, a spokesman for Senate Majority Leader Harry Reid.