Regulation

President Obama is urging lawmakers to put together a package to avoid the fiscal cliff with the next 10 days.

Another former aide to Mary Schapiro takes up a new leadership role at the Securities and Exchange Commission.

"The House did not take up the tax measure today because it did not have sufficient support from our members to pass," Boehner said in a statement after Republicans broke from a conference where leaders made a last-minute appeal for votes.

Ahead of two votes in the House of Representatives on Republican-backed spending and tax bills, Senate Democrats ripped into House Speaker John Boehner's so-called "Plan B," calling the proposals to avoid going over the fiscal cliff a "nonstarter" in the upper chamber and deepening the partisan impasse ahead of a year-end deadline to avert a series of automatic tax increases and across-the-board spending cuts.

The Clearing House spent 10 months and $2 million to plan a simulation of a large bank failure — and the results are not only fascinating, they're exemplary.

SEC Chairman Elisse Walter may hire as her top lawyer a former enforcement director from the main U.S. derivatives regulator.

Speaker of the House John Boehner said Tuesday that House Republicans would introduce a bill to raise tax rates for millionaires as a “Plan B” in case his negotiations with President Obama on averting the fiscal cliff fail to produce an agreement.

President Obama lowered his tax revenue demand by $200 billion and offered to start tax rate increases at $400,000 in income instead of $250,000, moving closer to a budget deal with House Speaker John Boehner.

The Financial Services Institute is calling on the leaders of a Senate committee to pass a resolution expressing the "sense of the Congress" that the current tax system includes valuable incentives that encourage Americans to save for retirement and should be preserved.

The lingering effects of the recession, increased health care costs, and uncertainty from the federal government hang over states even as many expect to see revenue collections and spending levels increase in the coming year.