U.S. Senator Jeff Merkley, the Oregon Democrat pushing for tighter restrictions on banks’ bets with their own money through so-called proprietary trading, said JPMorgan Chase & Co. took too much risk through a strategy the company described as hedging.
The Senate Banking Committee is preparing to vote next week on a plan to replace government- owned mortgage firms Fannie Mae and Freddie Mac as fading Democratic backing for the measure dims its chances of becoming law.
Embattled Veterans Affairs Secretary Eric Shinseki said he has moved to fire the Phoenix VA hospital leaders and apologized for health care lapses as he prepared to meet today with President Barack Obama.
Oregon Governor John Kitzhaber asked the state attorney general to take legal action against Oracle Corp., the primary developer responsible for setting up the state’s failed Obamacare health-insurance exchange website.