While the President’s executive order on cyber security last week brought public attention to the growing issue of cyber threats, legislation is still needed from Congress to help block attacks like those aimed at banks in recent months.
European data watchdogs said on
Monday they plan to take action against Google by this
pool user data from across all its services ranging from YouTube
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.
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
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.
By John O'Donnell and Eva Kuehnen, Reuters | February 08, 2013
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.
The U.S. Treasury needs to develop a
concrete plan for exiting its 74 percent stake in auto
financing company Ally Financial Inc, the second-largest
remaining recipient of federal bailout dollars, an internal
watchdog said in a report released Wednesday.
Two U.S. senators on Tuesday
questioned whether the Justice Department has been aggressive
enough in prosecuting misconduct at the largest banks and asked
the department to turn over information on how it determines
Britain's accounting watchdog
declined to take any action against Ernst & Young (E&Y) over its
auditing of Lehman Brothers before the U.S. investment bank
failed in 2008 and triggered a near meltdown in global markets.
Bank of America has begun
moving $50 billion of derivatives out of its Irish-based
operations into its British subsidiary, The Financial Times
reported on its website on Sunday, citing people close to the
President Barack Obama will
nominate former federal prosecutor Mary Jo White to head the
Securities and Exchange Commission (SEC), a White House source
said, restoring the agency's power to work on its overhaul of