In Senate, Battle Over New Consumer Protection Agency Continues
Two days before the agency is set to open its doors, GOP says it will block confirmation of CFPB chief until it gets a more ‘accountable’ structure.
House, Senate GOP Blast Dodd-Frank on Jobs, Capital Flight
Republicans voiced concern about economic impact of Dodd-Frank on U.S. competitiveness.
CFA to Congress: Cost-Benefit Analysis Will Hamstring SEC's Fiduciary Rulemaking Process
The CFA tells Congress that a further cost-benefit analysis on fiduciary duty rule will stall SEC's rulemaking process; but SEC's Schapiro told AdvisorOne recently that lawmakers' cost-benefit requests "haven't changed anything" regarding how the SEC already writes rules.
Sen. Tim Johnson Says Dismantling Dodd-Frank Is ‘Dangerous’
At a hearing conducted Tuesday by the Senate Committee on Banking, Housing, and Urban Affairs, the committee's Democratic chairman Tim Johnson, D-S.D., said that tearing down the Dodd-Frank reform law of 2010 "would be dangerous and irresponsible."
Senator Shelby Not Swayed by Fed Nominee's Nobel Prize
Sen. Richard Shelby, the highest-ranking Republican on the Senate Banking Committee, said he plans to oppose the Massachusetts Institute of Technology professor's nomination to the Fed for a third time.
Dodd-Frank Slowdown Would Not Ease SEC's Budget Woes, Schapiro Tells Senate
SEC chief refutes Senate Republicans' claim that putting the brakes on approving Dodd-Frank rule proposals with a more "rigorous" analysis would save the SEC money.
Outlook 2011, Regulation & Legislation: Advisors Brace for Dodd-Frank, New Committee Chairmen
Implementation of Dodd-Frank, new congressional chairmen and scores of compliance chores will keep advisors busy throughout the New Year.
Retained Asset Accounts Is Focus of Senator Shelby's September Hearing
NAIC working group releases consumer alert on the accounts.
Senate Passes Landmark Financial Services Reform Bill
The Senate passed Thursday, July 15, the massive 2,300-page financial services reform bill; the bill now goes to President Obama for his signature, which is expected in the coming days.
SENATE PASSES LANDMARK FINANCIAL SERVICES REFORM BILL
Bill heads for President Obama's signature; the $19 billion Wall Street reform will be covered by ending the Troubled Asset Relief Program (TARP) and by charging an extra premium to large banks by the Federal Deposit Insurance Corp. (FDIC).