If the U.S. Senate confirms him for a spot on the Securities and Exchange Commission, Daniel M. Gallagher will take a pay cut of more than $1 million a year.
The U.S. overhaul of Wall Street gave regulators a power they had called for since the collapse of Lehman Brothers Holdings Inc. : the authority to shut too-big- to-fail firms. Now the Federal Deposit Insurance Corp. has to figure out how to use it.
K&L Gates LLP must face a lawsuit over drink maker Le-Nature’s Inc.’s collapse, a Pennsylvania appeals court ruled in reinstating a $500 million case against the law firm.
"There's clearly a difference of view between the FDIC and the Federal Reserve."
- Michael Krimminger on Aug 05, 2014