Senate Banking Committee Chairman Christopher Dodd, D-Conn., said today he will work with Sen. Bob Corker, R-Tenn., a member of the Banking Committee, to write a new draft of the financial-services reform legislation the committee has been considering.
President Barack Obama is going to the heart of Wall Street on the first anniversary of Lehman Brothers' collapse to outline changes needed to prevent a future crisis like the one that sent the global economy into a tailspin last year.
The Labor Dept. is readying a proposal that would force service providers to make more plan info available. Meanwhile, a House committee is said to be unveiling similar legislation this week
The Senate Special Committee on Aging is considering proposing legislation that would require all managers of qualified default investment alternatives to act as fiduciaries under ERISA.
An unexpected visit by an ING Financial auditor uncovered a potential scam at Breard & Associates Wealth Management. Now, infomercial star Rhonda Breard is facing fraud charges.
Wall Street firms 'doing God's work?' Apparently not, as a religious group confronts banks over 'immorality' of swaps
President Barack Obama wants to nominate Janet Yellen, the president of the Federal Reserve Bank of San Francisco, to take over as vice chairman of the Federal Reserve, an administration official said Friday.
Sources say Sen. Dodd's financial reform bill places the hotly debated consumer protection agency -- designed to regulate bank products -- under the aegis of the bank-owned Federal Reserve.
Two life insurers are suing a trio of broker-dealers, accusing them of fraudulently selling to third parties variable annuities with lucrative death benefits on terminally ill individuals.
A bill introduced last week in the California Legislature would require money manager placement agents to register as lobbyists and regulate their compensation.
A proposal that would require brokers providing advice to be regulated as RIAs may be dropped from financial reform legislation, according to consumer groups and state securities regulators.
Chief executives at some of the biggest financial institutions are on a mission to repair their image with Congress and the public, part of a strategy to gain more influence over legislation that would overhaul financial regulations and intrude further into their business.
Authorities say Patrick Rakotonanahary's currency trading business was actually a classic Ponzi scheme
The Minnesota Commerce Department claims that the insurer sold 541 contracts worth $28 million that weren't OK'd by state
Senate Banking Committee Chairman Christopher Dodd, D-Conn., is expected to introduce new financial reform legislation this week that excludes applying a fiduciary standard to brokers offering investment advice.
The Securities and Exchange Commission's expected move to regulate placement agents as broker-dealers instead of prohibiting investment advisers from using them won't curb influence-peddling, some critics say.
Banking giant Wachovia Corp. will pay $160 million to settle a federal investigation into laundering of illegal drug profits through Mexican exchange houses in the largest case of its kind ever brought against a U.S. bank, prosecutors said Wednesday.
The nascent secondary market for annuities and their guaranteed benefits could be stunted as the result of a vote last week by state insurance regulators to allow carriers to terminate the annuity benefits if a client sells the contract.
A former branch manager who headed one of the largest groups of reps at FSC Securities Corp. is suing the broker-dealer after what he claims was a thwarted and contentious attempt to buy the business from parent AIG Advisor Group earlier last year.
