Wayne Abernathy News
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The first Basel agreement on global banking regulation, adopted in 1988, was 30 pages long and relied on simple arithmetic. The latest update, known as Basel III, runs to 509 pages and includes 78 calculus equations.
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Mid-sized banks that mostly let Wall Street and small firms speak for the industry during the debate over the Dodd-Frank Act have decided it’s time to carve out their own agenda in Washington.
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Ex-quarterback Jim McMahon helped drive the Chicago Bears to a Super Bowl victory in 1986. Two decades later, U.S. regulators say, he helped drive Chicago’s Broadway Bank to failure.
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The debate over whether the U.S.’s largest banks are too big is heating up. Since the 2008 financial crisis, the perception has taken hold among some analysts and economists that certain U.S. institutions are too big to fail, meaning they would have to be bailed out to protect the financial system in the event of another calamity.
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Banks are pushing the U.S. Consumer Financial Protection Bureau to limit information-sharing with states out of concern that attorneys general could file lawsuits based on private data collected by the agency’s examiners.
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House Republicans have embraced at least one proposal in President Barack Obama’s jobs package: changing the rules to make it easier for closely held companies to raise money without going public.
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The federal commission that investigated the origins of the financial crisis is set to issue three competing conclusions next week.
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As the political debate over budget cuts in Washington threatens to bring the government to a partial shutdown, bond markets are showing little concern about the nation’s fiscal health.
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Customers of IndyMac Bancorp Inc., the California mortgage lender that failed two years ago, would recover some of their $265 million in lost deposits under a proposal offered by House lawmakers to the financial-overhaul bill.
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A rule limiting proprietary trading by U.S. banks may be extended to overseas firms with operations in the country, according to four people familiar with the matter.
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