regulator

Stories 1 - 20 |  Next >>

Supreme Court Case About Fishing Fee Has Huge Ramifications

Charles Koch is backing it, likely in hopes of 'dismantling' federal regulation

(Newser) - The Supreme Court on Wednesday is taking up challenges by commercial fishermen to a fee requirement that could achieve a long-sought goal of business and conservative interests: limiting a wide swath of government regulations. Billions of dollars are potentially at stake in front of a court that, like the rest...

UK Just Nixed the Biggest Tech Deal in History

Microsoft's $69B attempt to buy video game maker Activision scuttled over fears of stifling competition

(Newser) - British regulators have blocked Microsoft's $69 billion deal to buy video game maker Activision Blizzard over worries that it would stifle competition in the cloud gaming market. The UK's Competition and Markets Authority said in its final report Wednesday that "the only effective remedy" to the significant...

Whistleblower: Twitter Has 'Egregious' Security Gaps

Peiter 'Mudge' Zatko, former security chief for the social media platform, has filed a complaint

(Newser) - Elon Musk has been trying to wriggle out of his $44 billion deal to buy Twitter, and two new reports from CNN and the Washington Post may help out the richest man in the world in those endeavors. Both outlets have seen a complaint filed by whistleblower Peiter Zatko, Twitter'...

Regulators Are Cracking Down on 'China's Amazon'

'A concern would be that market power may potentially morph into political power'

(Newser) - The Chinese government is extremely wary of anything that could pose a challenge to one-party rule—including the growing power of tech giants. Regulators announced Thursday they're cracking down on Alibaba, an e-commerce giant known as "China's Amazon," and its financial services sister company Ant, formerly...

There's a 'New Abnormal.' Here's Where Banks Come In

San Francisco Fed warns of financial risks that could come into play due to global warming

(Newser) - Greta Thunberg has warned about the environmental perils of climate change. Now, bank regulators are sending up the red flag on possible financial consequences. The warnings come courtesy of the Federal Reserve Bank of San Francisco , which put out a series of 19 papers, compiled by more than three...

Regulators Frown on 'Ice Cream Bank'

Pittsburgh man is paying out interest in gift cards

(Newser) - State regulators are cool on a Pittsburgh businessman's idea for a bank that pays interest in ice cream shop gift cards. The Pennsylvania Department of Banking says it wants Ethan Clay to shut down the community bank he's set up at Oh Yeah! ice cream and coffee shop....

JPMorgan Pays $20M Slap on Wrist Over Lehman

Regulators fine it $20M for improper lending

(Newser) - Federal regulators have filed their first action related to the momentous, crisis-sparking collapse of Lehman Brothers, but it won't amount to much. The Commodity Futures Trading Commission today filed a civil case against JPMorgan Chase, accusing it of overextending credit to Lehman, the New York Times reports. But JPMorgan...

'Widespread' Abuses by Groupon: UK Regulator

Company given three months to clean up its act

(Newser) - The UK's Office of Fair Trading today found Groupon guilty of "widespread" violations of consumer protection rules, citing concerns over "pricing, advertising, refunds, unfair terms, and the diligence of its interactions with merchants," the BBC reports. The regulator gave Groupon three months to clean up its...

Feds to Bank of America: Get Your Act Together

Or else face public action

(Newser) - Federal regulators have warned Bank of America’s board that the bank will face a public enforcement action if it doesn’t take steps to fix its corporate governance, risk management, and liquidity, sources tell the Wall Street Journal . The bank has been operating under a confidential memorandum of understanding...

Microsoft Hits Google With Antitrust Complaint
Microsoft Hits Google With Antitrust Complaint
CLASH OF THE TITANS

Microsoft Hits Google With Antitrust Complaint

Software giant sics European regulators on search giant

(Newser) - The war between Microsoft and Google just ratcheted up a notch: In its first-ever antitrust complaint against a competitor, Microsoft asked European regulators today to go after the search giant. Google is stunting competition and attempting to “entrench its dominance” on the Web, Microsoft complained to the European Commission....

Regulators Ignored Killer Abortion Doc: Grand Jury

Multiple complaints against Kermit Gosnell ignored

(Newser) - Pennsylvania health officials ignored multiple complaints against Kermit Gosnell, the Philadelphia abortion doctor accused of systematically killing newborn babies with scissors, the grand jury concluded. Almost a third of its report is spent castigating state and city authorities for their negligence, according to the Philadelphia Inquirer . “Government health and...

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...

Obama Fires Head of Minerals Management Service

Elizabeth Birnbaum's head rolls thanks to BP oil spill

(Newser) - Democratic sources say the Obama administration has fired the head of the US Minerals Management Service in response to blistering criticism over lax oversight of offshore drilling. President Obama will announce the firing later today, the sources say. Elizabeth "Liz" Birnbaum had run the service in the Interior Department...

Feds Let Big Oil Fill Out Own Inspection Forms

Regulators also took gifts, openly hustled for oil company jobs

(Newser) - Minerals and Management Service regulators accepted gifts from the oil companies they were supposed to be watching over, and allowed those companies to fill out their own inspection reports, according to a damning report from the inspector general, which found sweeping misconduct at the agency from 2005 to 2007. One...

Regulators Let BP Blow Off Wildlife Permits

Endangered species protections simply ignored

(Newser) - The Minerals Management Service appears to have blatantly ignored a law requiring new oil drilling operations to get permits from the agency that assesses risk to endangered species. The MMS gave the okay to the Deepwater Horizon rig and dozens of others without getting the permits, the New York Times ...

Ex-Regulators Hired by Toyota Staved Off Recalls

Former NHTSA officials helped end four probes into accelerators

(Newser) - Two former employees of the National Highway Traffic Safety Administration helped Toyota end at least four investigations into issues with its accelerators, according to court and government documents. Toyota’s VP of regulatory affairs, Christopher Tinto, and one of his subordinates, Christopher Santucci, came to the automaker directly from the...

Northwest Pilots Clammed Up After Overshooting Airport

FAA transcript shows pair blaming silence on 'cockpit distractions'

(Newser) - Air traffic controllers who sought an explanation from the pilots of the "runaway plane," which overshot the Minneapolis airport by about 100 miles last month, got little satisfaction. After being out of radio contact for over an hour, controllers asked the crew of Northwest Flight 188 for a...

FAA Admits Flubs on Wandering Northwest Flight
FAA Admits Flubs on Wandering Northwest Flight
Runaway Plane

FAA Admits Flubs on Wandering Northwest Flight

Miscommunication marked regulator's response to stray airliner

(Newser) - The FAA should have taken more decisive action on the Northwest Airlines flight that fell out of communication with ground control for 77 minutes last month, officials acknowledged today. While the plane was out of contact, air-traffic controllers changed shifts and failed to warn their replacements about the runaway plane....

29-Year-Old SEC Honcho Came From Goldman

New COO Adam Storch did 'business intelligence' at connected Wall Street bank

(Newser) - The first person named to the new chief operating officer position in the SEC’s enforcement division is a 29-year-old whiz kid who previously worked at uber-connected Goldman Sachs, Bloomberg reports. "Adam’s skill in technology systems, workflow process, and project management will greatly benefit the division," his...

As Failures Mount, FDIC Asks Banks to Prepay

Regulator wants cash upfront through 2013 to avoid emergency credit line

(Newser) - The FDIC is set to ask banks to prepay three years of fees to replenish its coffers after a wave of bank failures, estimated to cost as much as $100 billion. Banks would be asked to prepay $45 billion of their quarterly assessments, but they wouldn't have to report the...

Stories 1 - 20 |  Next >>