Dodd and Frank on Dodd-Frank
“We did very difficult, politically hard things” in the Dodd-Frank Act, former Massachusetts Congressman Barney Frank said July 21 as the law that bears his name celebrated its fifth anniversary. “My head hurt.”
Obama Issues Order to Fight Cyberattacks
The executive order creates a new way for the U.S. government to better respond to the "most significant" cybersecurity threats.
IRS Pushed to Crack Down on ‘Mega IRAs’
GAO report offers recommendations to IRS on reining in large retirement accounts with hard-to-value assets.
Social Security Bankrupt in 2033; Medicare Outlook Brightens: Trustees’ Report
While the trustees' Social Security funding forecast is similar to last year's, Medicare gets four more years thanks to Obamacare.
MetLife SIFI Designation Imminent
In designating MetLife at this time, the FSOC would be ignoring the House Financial Services Committee.
Garrett Brings NY Fed Into FSOC Issues
Rep. Scott Garrett is demanding that the New York Fed share with him any information it provides to the FSOC on nonbank SIFI designations.
House Committee Votes to Block SIFI Designations
The two bills would effectively shutter the FSOC for a year, but analysts give them little chance of becoming law.
House Seeks 6-Month Halt on SIFI Designations
House Financial Services will vote Thursday on a bill that would bar the FSOC from designating any financial institution as systemically significant for six months.
What Makes a Nonbank SIFI? GOP Lawmakers Demand Answers
“Both FSB and FSOC appear to take a ‘we-know-it-when-we-see-it’ approach” to identifying systemically risky firms, the House Republicans say in a letter.
Senate Finance to ‘Move Quickly’ on Tax Extenders
Senate Finance Committee Chairman Ron Wyden, D-Ore., made special mention of the research and development tax credit.