To solve a procedural problem stalling financial reform
The new House negotiators are Reps. Peter King of New York and Edward
Senate Banking Committee Chairman Phil Gramm had objected that a
Separately, 11 financial services groups sent letters Wednesday to Rep.
"The Senate- and House-passed measures, pending in conference, create a
Signers include the American Bankers Association, the Securities
Net charge-offs at the Charlotte-based bank increased by more than 80% from the same period a year earlier. BofA executives said that the rising losses were in line with the bank's risk appetite.
The Federal Reserve chair's comments coincide with the spring meeting of the International Monetary Fund and the World Bank Group in Washington. They also come as groups like the Basel Committee on Banking Supervision are being scrutinized.
The Federal Home Loan Bank System stepped up advances by 37% or more to Silicon Valley, Signature and First Republic banks ahead of their failures, the GAO says in a post-mortem on last year's banking crisis. The findings add to the debate about whether the system should be a lender of last resort.
Rep. Andy Barr, R-Ky., is running to lead his caucus in the House Financial Services Committee and says he has the skills to meld traditional and insurgent wings of the party.
Bellwether Community Credit Union's partnership with the New York ad tech firm Prizeout is working to build out gift card programs and generate added sources of non-interest income.
Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.
