John Dugan News
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Twice in less than two years, President Barack Obama and U.S. House Speaker John Boehner failed to negotiate a sweeping solution to the nation’s financial challenges. That may not be such a bad thing.
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Mary Stone resigned from the Financial Accounting Foundation’s board of trustees less than two weeks after she was accused by the Securities and Exchange Commission of violating her responsibilities in overseeing Morgan Keegan & Co. mutual funds during the credit crisis.
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Comptroller of the Currency John Dugan will step down when his five-year term as national bank supervisor ends next month, he said today in a letter to President Barack Obama .
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Federal Reserve Chairman Ben S. Bernanke and fellow U.S. policy makers may find themselves hampered in restoring financial stability should the European debt crisis spread to America.
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In a stately hearing room stuffed with senators and bankers, Thomas Curry began his apologies. His agency should have stopped a major bank from helping drug cartels launder cash. The violations went on for years while his agency was overly passive.
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Just before sunset on April 10, 2006, a DC-9 jet landed at the international airport in the port city of Ciudad del Carmen, 500 miles east of Mexico City. As soldiers on the ground approached the plane, the crew tried to shoo them away, saying there was a dangerous oil leak. So the troops grew suspicious and searched the jet.
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The bank, now a unit of Wells Fargo, leads a list of firms that have moved dirty money for Mexico’s narcotics cartels--helping a $39 billion trade that has killed more than 22,000 people since 2006.
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Higher capital requirements that international regulators plan to impose on banks worldwide are likely to push firms to shrink trading activities in favor of lending, U.S. Comptroller of the Currency John Dugan said.
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President Barack Obama installed Richard Cordray as head of the Consumer Financial Protection Bureau with a recess appointment yesterday, testing the limits of his executive authority to fill the post without Senate approval.
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Citigroup Inc. Chairman Richard Parsons, who helped the bank become a behemoth that almost collapsed in the financial crisis and then led its recovery, will be replaced by fellow director Michael O’Neill.
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