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U.S. Senate Approves Lew as Treasury Chief
The Senate confirmed Obama's nominee Jack Lew to succeed Timothy Geithner as U.S. Treasury Secretary yesterday.
FINRA Tabs Citi's Randich as New CIO
Steven Randich, currently co-CIO at Citi, will begin his new role at the regulatory body on March 11.
U.S. Senate Panel Backs Lew for Treasury Secretary
Jack Lew's nomination for Treasury Secretary cleared the Senate Finance Committee yesterday, clearing the way for a full senate vote on his confirmation.
Bank Failures Down in 2013
Three banks have been shuttered so far in 2013, compared with 11 over the same time period last year.
Oracle Launches New Compliance and Risk Management Solutions
New Oracle Financial Services Foreign Account Tax Compliance Act Management targets pending FATCA requirements; expanded Oracle Financial Services Enterprise Risk Management suite addresses challenges around stress testing and model risk management.
U.S. DOJ Probing JPMorgan Over Bear Stearns Mortgage Products
The U.S. Justice Department is
investigating JPMorgan Chase & Co over allegations that
Bear Stearns provided misleading information about its mortgage
products during the lead-up to the financial crisis, according
to people familiar with the matter.
U.S. Banks Provided $45 Billion in Homeowner Relief Under Mortgage Deal
Five top U.S. banks have
provided $45.8 billion worth of relief to struggling homeowners
under a 2012 federal-state settlement to resolve mortgage
abuses, according to a report released Thursday by a monitor of
that settlement.
FINRA Fines 5 ING Units $1.2 Million For Violations
Wall Street's industry-funded watchdog
fined five affiliates of ING Groep NV a total of $1.2
million for not storing or reviewing millions of company emails,
according to an announcement on Tuesday.
EU Privacy Regulators Take Aim at Google Privacy Policy
European data watchdogs said on
Monday they plan to take action against Google by this
summer for its privacy policy, which allows the search engine to
pool user data from across all its services ranging from YouTube
to Gmail.
Ally Financial Completes its Share of Mortgage Relief
U.S. auto lender Ally Financial has
satisfied a requirement to provide $200 million in home loan
modifications and other consumer relief under last year's $25
billion national mortgage settlement, the pact's monitor said
Thursday.
New Basel III Provisions Would Have Caused Inflation: Report
A report from research firm SNL Financial argues that if Basel III had been in effect over the last year, banks would have experienced sizable inflation in their regulatory capital by including unrealized gains and losses.
What Can Banks Learn from the U.S. Government’s Big Data Initiatives?
Several federal agencies are currently involved in big data research and design projects.
Judge Denies Wells Fargo Attempt to Fight Financial Crisis Suit
A federal judge on Tuesday
denied Wells Fargo's attempt to beat back a
financial-crisis lawsuit by arguing it conflicted with an
earlier settlement.
Global Watchdog Needs More Time on Derivatives Rules
New rules on how much collateral
is needed to back derivatives trades are unlikely to be
finalised before September, leaving markets in limbo as global
regulators seek to minimise potential harm to economic recovery.
Cracks Appear in European Banking Union Scheme
It was billed as a
reform that would tighten policing of Europe's banks and end
their ability to suck states into crisis. Now fears are growing
that a central element of banking union will be scaled back,
undermining the whole scheme.
Senate Panel to Vet Lew for U.S. Treasury Secretary Next Week
The Senate Finance Committee
will hold a hearing on Feb. 13 to consider the nomination of
Jacob "Jack" Lew for Treasury secretary, the committee said on
Wednesday.
New Measures to Lift Veil on Banks' Capital Ratios
The game may soon be up for banks
that have made themselves look healthier by understating how
risky their businesses are, which should help pension funds,
savers and companies to decide which institutions to invest in.
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