The Obama administration’s announcement yesterday that it was delaying a ruling on the Keystone XL oil pipeline drew an angry reaction from supporters of the $5.4 billion project, including some who said it was designed to push the issue beyond the November election.
Zions Bancorporation, which failed the Federal Reserve’s annual stress test, deferred giving Chief Executive Officer Harris Simmons a cash bonus until after the bank learns the results of its resubmission.
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.
Ohio’s ban on recognizing same-sex marriages from other states will stay in effect until its constitutionality is resolved on appeal, a federal judge ruled, saying he’s seeking to avoid creating confusion.