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.
Securities and Exchange Commission Chairman Mary Jo White rebuffed calls by House Republicans to forswear a rule that would force public companies to disclose political spending, saying she won’t “prejudge the issue.”
Federal Reserve Bank of Philadelphia President Charles Plosser said the Dodd-Frank Act may not curb too-big-to-fail banks, and the current mechanism for unwinding failing financial companies may lead to taxpayer bailouts.
U.S. regulators face renewed pressure from congressional lawmakers who voted today to ease Dodd-Frank Act derivatives requirements amid criticism from Wall Street and overseas officials that the rules overreach.
Federal Reserve Bank of Richmond President Jeffrey Lacker said broker-dealer units of banks should have higher capital requirements than deposit-funded subsidiaries because the financial crisis demonstrated the risks that stem from a reliance on markets for financing.
Data collected by the U.S. Consumer Financial Protection Bureau doesn’t invade individuals’ privacy, is a vital regulatory tool and mimics techniques already in wide use by the private sector, the agency’s director said today.
“Too-big-to-fail” legislation unveiled yesterday in Washington is needed to rein in the biggest U.S. banks because the Dodd-Frank Act has failed to guard taxpayers against future bailouts, the bill’s sponsors said.
“Too-big-to-fail” legislation unveiled in Washington today is needed to rein in the biggest U.S. banks because the Dodd-Frank Act has failed to guard taxpayers against future bailouts, the bill’s sponsors said.