Practice

WASHINGTON — Republican Sen. Bob Corker's decision to negotiate directly with Senate Banking Committee Chairman Chris Dodd on regulatory reform may boost the chances of reaching a bipartisan bill, but does not clarify how critical unresolved issues will be worked out.

Prudential Financial reported 2009 year-end earnings of $3.411 billion, or $7.63 per common share, a sharp improvement from the $1.14 billion loss, or $2.53 per common share, in 2008.

Advisors who can maintain high production levels this year will be richly rewarded.

The business model for independent brokerage firms is under threat, calling into question the livelihood of over 178,000 registered representatives.

WASHINGTON — With the economy showing signs of recovery, Federal Reserve Board Chairman Ben Bernanke gave more clues Wednesday to how the central bank will return to normal and made clear that financial institutions are central to his plans. Federal Reserve Board, Ben Bernanke, House Financial Services Committee, Rajeev Dhawan, Economic Forecasting Center

Bank of America Corp. expects “significant” growth in 401(k) assets this year, but analysts are skeptical about where and how the banking company can expect to generate new business.

The financial crisis has made a permanent impression on American consumers, who are likely to save 6% or more of their income over the next decade, translating to as much as $800 billion stashed away each year, according to a new study by Allianz Group.

Boomers are losing confidence in a lot of institutions, "not just financial ones."

Pressured by a brokerage firm, the board of governors of the Financial Information Regulatory Authority will meet Wednesday to determine whether Securities and Exchange Commission Chairman Mary Schapiro and other former FINRA executives were overcompensated in 2008.

The House Financial Services Committee canceled all hearings scheduled this week due to heavy snow.