Topic: Barney Frank

House panel approves Consumer Financial Protection Agency to police market for fraud, abuseThe House Financial Services Committee voted Thursday to create a federal agency devoted to protecting consumers from predatory lending, abusive overdraft fees and unfair rate hikes.Democrats are hailing the 39-29 ...

New bill coming on resolution authority: Rep Frank

WASHINGTON (Reuters) - The Obama administration will release a new draft bill this week or next on " resolution authority," or empowering the government to deal with large, failing financial firms, the chairman of a key U.S. congressional committee said on Tuesday. ...
Amid opposition from banks and businesses, House panel begins push on financial overhaulA key House panel moved to tighten rules on previously unregulated financial instruments Wednesday, a long-awaited step toward governing the obscure and complex transactions at the heart of the troubles ...

U.S. derivatives bill addresses end user concerns

WASHINGTON (Reuters) - The chairman of the U.S. House of Representatives Agriculture Committee on Friday unveiled a draft bill on regulation of over-the-counter derivatives that differs in some key respects from bills drawn up elsewhere in the House and by the Obama ...
Leader Steny Hoyer has projected House floor debate and a . The Senate is moving more slowly on a wide-ranging set of . The following is a summary of Obama's proposals, several . Related legislation has been introduced in the Senate, but ...

Draft bill frees some from derivatives clearing

WASHINGTON (Reuters) - Firms ranging from airlines to agribusiness would be exempt from new rules on compulsory clearing of derivatives transactions under a bill in Congress aimed at tightening oversight of the financial system.The draft bill from Representative Barney Frank, chairman of ...

Key senator sees vote on financial reform delayed

WASHINGTON (Reuters) - A key U.S. senator reiterated on Wednesday that full Senate consideration of a bill to overhaul financial regulation may not come until early next year.Christopher Dodd, chairman of the Senate Banking Committee, said the full Senate will start considering ...
Moderate Democrats draft proposal that would shield major banks from tighter state regulationModerate House Democrats are drafting a proposal that would continue to shield big banks from potentially tougher state regulations of credit cards, mortgages and savings accounts.The plan would differ from ...
Officials consider fresh bailouts from $700 billion fund to prop up struggling community banksTreasury officials and regulators are weighing a fresh round of bailouts for banks that were deemed too risky to qualify for earlier aid.Representatives from the Treasury Department, Federal Deposit ...

Rep. Frank revises planned consumer agency bill

WASHINGTON (Reuters) - Powerful U.S. lawmaker Barney Frank bowed to some of the financial industry's demands and softened parts of his bill to create an agency to protect consumers from risky financial products, according to a copy of the draft bill first ...