European Concerns Dominate Senate Banking Hearing
The Senate Committee on Banking, Housing and Current Affairs heard testimony from three experts on the state of the financial situation in Europe on Thursday, and sought answers to additional questions as members explored how the U.S. might be exposed to the eurozone debt crisis.
Fed Asks Congress to Ease Lending Standards and Housing Inventory
Quincy Krosby, chief market strategist for Prudential Annuities, thinks the 'Fed will probably give us QE3' this year, but will focus on buying mortgage-backed securities rather than Treasuries.
Obama Uses Recess Appointment to Name Cordray to Head CFPB
President Barack Obama on Wednesday named Richard Cordray through a recess appointment as the director of the Consumer Financial Protection Bureau, a move that Senate Republicans cried is unconstitutional.
Senators Cite Deficiencies in FHFA's Oversight of Fannie and Freddie
As part of an ongoing series of hearings on how to reform housing finance, the Senate Banking Committee heard testimony on Tuesday from the Federal Housing Finance Agency’s first inspector general, Steve Linick.
Senate GOP Blocks Cordray as Head of Consumer Bureau
The Senate fails to move forward nomination of Richard Cordray as first director of the Consumer Financial Protection Board; GOP says director will wield too much power and that CFPB is unaccountable to Congress.
Senators Bash CFTC’s Gensler Over MF Global Collapse
Senate lawmakers took Gary Gensler, chairman of the CFTC, to task over failed brokerage firm MF Global and his decision on Nov. 5 to recuse himself from investigating the firm.
Shelby Slams FSOC, Questions Chances of Success
Sen. Richard Shelby, the ranking Republican on the Senate Committee on Banking, Housing and Urban Affairs, voiced skepticism on Thursday that the Financial Stability Oversight Council would find success.
Senate Banking Panel OKs Cordray to Lead Consumer Agency
The Senate Banking Committee on Thursday approved, by a party line vote of 12-10, the nomination of Richard Cordray as director of the Consumer Financial Protection Bureau. The nomination now goes to the full Senate.
Senate Banking's Shelby Floats Cost-Benefit Bill
Sen. Richard Shelby, R-Ala., ranking GOP member on the Senate Banking Committee, introduced a bill on Thursday that requires financial regulators, like the SEC, to provide rigorous and consistent economic analyses on new rules they propose.
Senators at Odds Over Cordray’s CFPB Nomination
Members of the Senate Banking Committee were at odds on Tuesday as to whether Richard Cordray is qualified to be the first director of the Consumer Financial Protection Bureau.