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.
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.
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.
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.
The U.S. senator who helped craft the financial overhaul bill said he was gratified that Goldman Sachs Group Inc. plans to discontinue its proprietary trading business, a signal of Wall Street’s early response to the new rules from Washington.
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 .