regulatory body

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States Asked for Foreclosure Probe—3 Years Ago

Federal regulators turned down request, put off matter

(Newser) - State regulators suspected that there was something fishy about banks' foreclosure procedures as far back as three years ago, but federal regulators forbid them to take action, the Washington Post reports. The federal comptroller told the states his office was already planning an investigation, and that banks should only respond... More »

Obama to Banks: Quit 'Furious' Fight Against Finance Reform

Regulation will be good for Wall Street and Main Street

(Newser) - President Obama will today ask the banks to call off their "furious efforts" to block his proposed financial regulatory overhaul. "I believe that these reforms are, in the end, not only in the best interest of our country, but in the best interest of our financial sector,"... More »

Now Dodd Can Make a Real Difference

Lame duck can cut a deal with GOP on financial oversight

(Newser) - Sen. Chris Dodd’s decision not to seek reelection could make financial regulatory reform more likely while burnishing his own tainted legacy. Oddly, the route to legislative success for the historically Wall Street-connected Dodd would require him to back away from the more populist, pro-consumer stance he took when his... More »

SEC Report: We Never Did 'Competent' Madoff Probe

(Newser) - The SEC's inspector general says the agency had plenty of chances to take down Bernie Madoff and whiffed on every one, Bloomberg reports. In a report released today, H. David Kotz writes that the SEC received "detailed and substantive complaints over the years to warrant a thorough and comprehensive... More »

Geithner Flips Out, Tongue-Lashes Regulators

(Newser) - The heat is apparently getting to Tim Geithner. At a meeting last week with high-level financial regulators, the treasury secretary indulged in a potty-mouthed diatribe about delays in the administration's highly touted plan to overhaul the regulatory system, declaring, "enough is enough," the Wall Street Journal reports.... More »

G20 Measures 'Necessary, But 'No Guarantees': Obama

(Newser) - President Obama touted the resolutions of the G20 summit today in London, saying swift and muscular action was needed to reverse the global economic downturn, the AP reports. Steps like the injection of funds into the IMF and the creation of a global regulatory body “were necessary,” he... More »

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