Policy & Regulation

Morgan Stanley has hired former Federal Reserve economist Vincent Reinhart as chief U.S. economist, according to an internal memo obtained Tuesday by Dow Jones Newswires.

In her final appearance before the Senate Banking Committee, former FDIC Chairman Sheila Bair confirmed that the Dodd-Frank Act would prevent bailouts along the lines we saw during the last financial crisis. This is the conventional view but, as the markets react to rumors of deteriorating economic conditions leading to the need for bailouts of Eurozone banks, and perhaps a contagion affecting U.S. banks, that confidence may be ill-placed.

The Securities and Exchange Commission told lawmakers Monday that it will need additional funding and that it will take several years to fully implement more than a dozen recommendations of ways that the agency could become a more efficient securities regulator.

WASHINGTON — In response to concerns raised about the importance of geographic diversity on the Federal Open Markets Committee, Rep. Barney Frank plans to amend a bill that would remove regional Fed presidents as voting members of the committee.

Large banks see capital and premium implications from large deposits that seek full FDIC insurance.

John Allison may have retired as BB&T's CEO in 2008 but he still has strong opinions about the economy and banking industry. In a wide-ranging interview, he projects five years of stagnant growth, mixed results for M&A and 5-10% job cuts in the banking industry.

Bank of America Corp. said Monday that it would eliminate about 30,000 jobs over the next few years as part of its latest cost-reduction plan.

When Women in Housing and Finance organized a send-off for John Bowman last week, only one person was missing: Bowman.

While the media and public at large have been hanging on every word from Federal Reserve Board Chairman Ben Bernanke lately, the remarks that drew the most attention last week didn't involve the economy or QE3.

The American Bankers Association announced its slate of candidates last week for officer positions for 2011-12, which will be considered at the group's annual convention in San Antonio next month.