The chairman of the House Financial Services Committee says that Congress will substantially increase the power of government regulators to monitor derivatives, a type of financial instrument that contributed to the U.S. economic turmoil.
A bill to provide low-cost loans to unemployed homeowners with delinquent mortgages was introduced yesterday by Rep. Barney Frank, D.-Mass., chairman of the House Financial Services Committee.
Ameriprise Financial Services Inc. of Minneapolis has agreed to pay $17.3 million to settle charges that it received nearly $31 million in undisclosed compensation for selling its brokerage customers real estate investment trusts between 2000 and 2004, the Securities and Exchange Commission announced today.
World stock markets fell while oil prices slipped again Wednesday amid mounting worries about the speed of any global economic recovery just as the U.S. second-quarter earnings kicks off.
European stock markets rose modestly today following late day-before gains on Wall Street — but the fifth straight retreat on Japan's main Nikkei index provided ample evidence that investor sentiment remains extremely fragile.
Investors sent stocks falling as they wait for signals about where the economy is headed.
