Caroline Hunter’s six-year term on the Federal Election Commission expires today. If recent history is any guide, what will happen next is ... nothing. Of the six seats on the FEC, which interprets and administers the nation’s election laws, one is vacant and the others are occupied by commissioners with expired terms. It’s tempting to conclude from this that inertia dominates the FEC but that would be mistaken: The commission is more destructive than mere inertia could possibly allow.
Nationstar Mortgage Holdings Inc., the mortgage servicer that collects payments on more than $300 billion of debt, was ordered to stop auctioning some home loans backing mortgage securities after an investor sued.
Standard Chartered Plc might be asked to pay as much as $700 million to resolve money-laundering allegations filed by New York’s banking superintendent after his department grew impatient with inaction by federal regulators, a person familiar with the case said.
HCA Holdings Inc. and other hospitals will get more paying customers while insurers like UnitedHealth Group Inc. will see profits squeezed as U.S. President Barack Obama moves to preserve the health-care overhaul he championed.
Bank of America Corp., the biggest U.S. lender, has made a preliminary offer to bond insurer MBIA Inc. aimed at settling a legal dispute tied to defective mortgages, according to two people briefed on the discussions.
Staples Inc., the office-supplies retailer that Mitt Romney’s Bain Capital LLC helped take public more than two decades ago, is now offering private-equity buyers a bargain that will be tough to pass up.
T. Boone Pickens, who’s been saying for more than a year that Congress was poised to pass his plan to subsidize natural-gas vehicles, may not have been expecting opposition led by fellow billionaire Charles Koch.