Kevin Petrasic News
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The U.S. Treasury’s plan to sell its remaining 32 percent stake in General Motors Co. is a leap forward for the Obama administration’s effort to end a $418 billion bailout program that in four years was transformed from a political albatross to a winning campaign issue.
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Gerald J. Ford, who became a billionaire by purchasing distressed lenders during the last banking crisis, isn’t waiting around during this one for Sheila Bair’s Federal Deposit Insurance Corp. to offer him a deal.
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If mobile phones can be used to buy gas and pay bills in the U.S., should they be subject to the same consumer protections as bank accounts or credit cards?
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Comerica Inc. ’s plan to retire trust-preferred securities early may save the lender millions of dollars on interest payments and trigger a wave of similar redemptions by U.S. banks.
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Congressional negotiators meeting to resolve differences over bank-regulation legislation are likely to retain a proprietary-trading ban and higher capital standards while stripping a measure that would bar commercial lenders from running swaps desks, said lawmakers and analysts.
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European lenders may have to give the Federal Reserve daily updates on almost 100 items, including cash flow, collateral, and unpledged assets, as U.S. regulators assess the threat posed by the continent’s debt crisis.
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Elizabeth Warren , appointed last week to help set up a new U.S. consumer financial-protection agency, spent much of the past two years critiquing Treasury Secretary Timothy F. Geithner . Now, he will oversee her.
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Neuberger Berman Group LLC, the money manager that was part of Lehman Brothers Holdings Inc., reassembled a team of executives to invest as much as $1 billion in firms that run hedge funds.
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The Federal Reserve Bank of New York may ask foreign lenders for more detailed daily reports on liquidity as the U.S. steps up monitoring of risks from Europe’s sovereign debt crisis, according to two people with knowledge of the matter.
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Lawmakers crafting the final language for U.S. financial regulatory reform are being lobbied by their colleagues, consumer groups and industry leaders including JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon .
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