The U.S. Securities and Exchange Commission is weighing a requirement that brokers tell investors exactly where their stock trades go to be executed, a proposal that may address complaints that the decisions are sometimes made without the client’s best interests at heart.
Hertz Global Holdings Inc. is slated to win back rental car locations it had to sell to resolve antitrust claims over its $2.3 billion purchase of Dollar Thrifty, diluting regulators’ efforts to promote competition in the industry.
Banking-industry groups urged the Federal Reserve not to write new rules restricting their involvement in physical commodity businesses, arguing that the benefits they provide outweigh risks highlighted by lawmakers.
U.S. banks including Goldman Sachs Group Inc. should be banned from owning commodities businesses because they could threaten the institutions and global supply chains, Senators Sherrod Brown and Elizabeth Warren told the Federal Reserve.
Senators Sherrod Brown and Elizabeth Warren urged the Federal Reserve to bar banks from owning physical commodity assets, saying the holdings expose financial holding companies to “unprecedented and unmanageable financial, legal, environmental, and reputational risks.”
As the rest of the housing industry recovers, a little-known firm with a key role in U.S. mortgage finance remains stuck in limbo, wrestling with regulators, lawsuits and the departures of senior employees.
Four of the nation’s largest banks, led by JPMorgan Chase & Co., are driving a surge in borrowing from the Federal Home Loan Bank system as they raise funds to buy assets that meet new liquidity requirements.