Policy & Regulation

BlackRock, Fidelity Investments and Vanguard, firms that collectively manage more than $7 trillion, are gauging how their clients have been hurt by Libor manipulation and whether to take legal action as at least a dozen banks are being investigated for rate-rigging.

Richard Cordray, director of the CFPB, faced Republicans in Congress on Tuesday night as part of a House subcommittee on financial services oversight hearing.

The Federal Reserve Board entered into a written agreement with Macon Bancorp that requires the Franklin, N.C., company to serve as a source of strength to its bank.

In a speech Wednesday, Sen. Richard Shelby said that if Republicans win control of the Senate, he will work to rein in the Consumer Financial Protection Bureau and other financial regulators.

Visa swung to a loss of $1.8 billion in the third quarter, as it paid its portion of a $6 billion settlement agreement with retailers that was announced earlier this month.

Visa posted a fiscal third-quarter profit that beat analysts' estimates as credit and debit card spending rose.

Comments by former Citigroup chief executive Sandy Weill reignited the debate over whether to separate commercial banking from investment banking.

"If I could push a button and eliminate Dodd-Frank would I do it? No, I would not," says Goldman Sach’s Lloyd Blankfein.

Sandy Weill's call to break up big banks invoked the Main Street bankers who have blasted Wall Street fat cats like him for years. What next for him — a director post at a small bank in Peoria?

The House of Representatives easily approved Republican Rep. Ron Paul's bill authorizing a broad audit of the Federal Reserve Board. The bill is not expected to pass the Senate.