Topic: Rachelle Younglai

Federal Reserve Chairman Ben Bernanke told a group of U.S. senators Thursday that the debt crisis in Greece and Europe is having an impact on the...

Consumer credit drops in August

U.S. consumer credit posted its largest decline since April 2010 in August, according to a Federal Reserve report on Friday that suggested ...

Fiscal 2011 Budget Deficit Hits $1.1T

The United States is running a $1.1 trillion budget deficit to date in the current fiscal year, the Treasury Department said on Wednesday, as key...

Treasury, Fed Mull Impact of Debt Debate

Treasury Secretary Timothy Geithner and top Federal Reserve officials met Friday to talk about the implications for the U.S. economy if Congress...

Senator Brown to support Wall Street regulation bill

WASHINGTON (Reuters) - Republican Senator Scott Brown said on Monday that he expects to support the broad financial regulation bill."I appreciate the efforts to improve the bill, especially the removal of the $19 billion bank tax," Brown said in a statement. "As ...

U.S. market curbs will be proposed on Tuesday

BOSTON (Reuters) - New curbs to slow trading in stocks when markets are plunging will be proposed on Tuesday, Securities and Exchange Commission Chairman Mary Schapiro said.The SEC and major exchanges have been forced to come up with solutions to protect markets ...

Volcker warns on split of banks, derivatives desks

WASHINGTON (Reuters) - White House economic adviser Paul Volcker said in a letter that he has concerns about the "extensive reach" of a controversial Senate proposal that could force banks to spin off their swaps desks.Volcker, in a letter dated May 6 ...

Senate panel mulls watered down "Volcker rule"

WASHINGTON (Reuters) - Senate Banking Committee members are considering a watered down version of the 'Volcker rule' unveiled last month by the Obama administration to curb risk-taking by banks, sources familiar with the panel's thinking said on Thursday.Committee members are leaning ...

White House examines new rules for tribal casinos

WASHINGTON (Reuters) - The Obama administration may make it easier for Indian tribes to build casinos far from their reservations.The White House is " rethinking" a policy from the previous Bush administration that off-reservation casino sites be within commuting distance of the reservation ...

Option exchanges in SEC flash order review

WASHINGTON DC (Reuters) - The U.S. Securities and Exchange Commission is including options exchanges in its review of controversial flash orders, which give traders an advance look at trading orders, the regulator said on Wednesday.The stock markets regulator is mulling ways ...