Policy & Regulation

The downgrading of the government to double-A-plus was not only correct but overdue. If anything, S&P should have taken Uncle Sam down to double-A-minus, given the deadlock over revenues and spending.

Bill Gross, manager of the world's biggest bond mutual fund, said Standard & Poor's showed "spine" by cutting the U.S. debt rating, contradicting Warren Buffett and Legg Mason Inc.'s Bill Miller, who said the rating company erred.

PE firm Gores Group unveils its payments reader strategy for Hypercom's U.S. payments terminal business

JSC Federal Credit Union is the latest of a growing list of credit unions that have agreed to set aside funds to settle consumers’ claims the credit union violated provisions of the notification provisions of the Electronic Funds Transfer Act.

WASHINGTON - Two failures Friday evening cost the Federal Deposit Insurance Corp. an estimated $160 million.

A top official at rating firm Standard & Poor's said Friday the company's decision to downgrade U.S. government debt for the first time in 70 years was due in part to Washington's political paralysis surrounding raising the debt ceiling.

Standard & Poor's downgrade of the U.S. government's debt will not affect the risk-based capital requirements for U.S. banks, federal regulators said Friday evening.

Faced with an influx of money that could stream out as suddenly as it arrived, banks are being forced to maintain big pools of liquid assets, and potentially earn negative returns on deposits.

We wonder if it's the same individual who talked to CNBC and ABC News, but it's hard to tell since ABC identified their source as "a government official," while CNBC's is merely "someone familiar with the matter." But the information is essentially the same: the federal government is expecting and preparing for a downgrade by Standard & Poor's Corp.

A coalition of bipartisan lawmakers, aided by industry and housing groups, faces an uphill battle to extend the increase against unlikely allies: House Republican leadership and the White House.