Law and regulation

Lawmakers sharply criticized the Obama administration's proposed bank tax on Tuesday, telling Treasury Secretary Tim Geithner it is unfair and counterproductive.

WASHINGTON — An Obama administration push to ban banks from proprietary trading and limit their growth suffered a setback Tuesday as lawmakers from both parties raised concerns that the so-called "Volcker Rule" would have done little to nothing to prevent the financial crisis.

Companies cite defensive moves ahead of rate rise

Many donor-advised funds from the nation’s largest mutual fund companies are directing tens of millions of dollars to aid victims of the massive earthquake in Haiti. The Fidelity Charitable Gift Fund alone has sent $10.5 million for Haiti relief.

Most RIAs don’t see any lost competitive advantage if a fiduciary standard is required for everyone

The banking industry's effort to compensate for lost overdraft-fee income by phasing out free checking has hit a roadblock.

WASHINGTON — The Obama administration proposed Monday to raise the required level of reserves at the Federal Deposit Insurance Corp. to more than $80 billion — a move that would require banks to pony up a huge amount of money.

$30 billion initiative would be separate from Tarp

WASHINGTON — Though President Obama last week said the spate of government programs helping banks was comparable to a "root canal," there can be little doubt that a key part of those efforts — the Federal Reserve Board's multiple liquidity facilities — was vital in staving off economic collapse.

The Securities and Exchange Commission last Wednesday adopted several amendments to Rule 2a-7 governing money market funds that aim to reduce risks by increasing credit quality, improving liquidity, shortening maturity limits and requiring the disclosure of a fund’s “shadow” net asset value.

Consumers, professionals can verify an advisor’s credentials via CFFP or Nasdaq

Advisors would rather seek investment opportunities than revenge.

Their clients are fed up with Washington as a general rule.

What’s hot and what’s not in proposed financial services reform legislation.

WASHINGTON — Treasury Secretary Tim Geithner used a hearing on the bailout of American International Group Wednesday to repeatedly endorse President Obama's plan to impose a 15 basis-point tax on large banks and restrict their growth and activities.

WASHINGTON — Though there is growing concern that interest rate increases will catch banks off guard, regulators are split on how big the threat is.

Will the proposed “Volcker Plan” really hurt large companies as much as feared?

WASHINGTON – Senate Majority Leader Harry Reid has scheduled a vote for Thursday that would clear the path to a second term for Federal Reserve Board Chairman Ben Bernanke.

Switzerland’s Federal Administrative Court has ruled that the agreement for UBS to disclose the identities of 4,450 U.S.-based taxpayers to the IRS violates the country’s banking secrecy laws.

Stripping Rules Coming by July