The Obama administration said it was delaying a decision on the Keystone XL oil pipeline due to a legal challenge to the project in Nebraska, a move that may push final action until after 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.
A former Bridgestone Corp. executive agreed to plead guilty to conspiring to fix prices for auto parts, a day after a grand jury indicted another executive and two former workers at the Japanese tire maker.