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Fed rolls out consumer credit program
The Department of the Treasury and the Federal Reserve today launched a program designed to increase lending to consumers and small businesses.
Boston Fed President: Banks must dump toxic assets
Banks need to get rid of toxic assets, Boston Federal Reserve Bank President Eric Rosengren told a group of bankers yesterday in Washington.
$138M in ND investments frozen by fraud case
Federal authorities have frozen $138 million in North Dakota's state pension and workers compensation funds, records show.
SIPC raises assessment fees on brokerage firms
The Securities Investor Protection Corp. will raise member brokerage firm assessments to 0.25% of net operating revenue. The new rate, up from the current flat $150 per year, is effective April 1.
Ohio names 20 insurers receiving accounting breaks
The Ohio Department of Insurance today released the names of the 20 companies that have raised their surplus levels through approved accounting breaks.
Accounting overseers soon may inspect all B-D auditors
The Public Company Accounting Oversight Board may soon have the authority to inspect auditors for all broker-dealer firms, even private ones.
Two Montana firms accused of securities fraud
A state judge issued a temporary restraining order against two Montana firms accused of bilking seniors out of millions of dollars in a securities fraud scheme.
Ohio to relax accounting rules for 20 insurers
The Ohio Department of Insurance has confirmed it will provide temporary reserve relief for 20 insurance companies headquartered in the state.
Analysts united: Citi deal bad for bank stocks
Many analysts and money managers wondered what impact nationalization would have on other bank stocks.
Obama begins ‘stress tests’ of banks
Obama administration begins "stress tests" to gauge the health of America's biggest banks.
Major leaguer broke because of Stanford scandal
Scott Eyre, a left-handed relief pitcher with the reigning World Series champion Philadelphia Phillies, has joined the roster of major-league players ensnared by the Stanford Financial scandal.
Congressional watchdog slams bailout
In the first watchdog criticism of the Obama administration’s handling of the financial bailout, the head of a congressional oversight panel said the new Treasury Department plan “lacks crucial details,” especially about how it will treat toxic securities held by banks.
Regulators anticipate new rules for insurers
Thanks to the global crisis, insurers and other financial companies will likely see new regulations that will greater…
NYSE may allow penny stocks
With many major companies trading in penny-stock territory, the New York Stock Exchange is considering relaxing a rule that requires shares to trade above a dollar.
Obama to tap ex-Secret Service agent to oversee stimulus plan
A former Secret Service agent is expected to be named chairman of the organization overseeing the federal-economic-stimulus-plan spending.
Madoff’s market making operation being sold
Trustees handling Bernard L. Madoff Securities is in the process of selling the market making operation connected with the firm, trustee Irving Picard said today .
Stanford said to decay healthy-teeth group’s funds
A trustee of a charitable foundation that helps poor people in Central America and Mexico has filed a civil case against Texas billionaire financier R. Allen Stanford.
UBS Shares dropped 15%
Commentators in Switzerland voiced their anger at the bank's business practices and what they saw as heavy-handed treatment by U.S. authorities.
As market falls, arbitration claims rise
Broker-dealers and registered representatives are being hit by the legal fallout of the historic market collapse.
Stanford employee raised concerns with regulators in 2003
While R. Allen Stanford's investors were swallowing claims of vast returns on safe investments, some of his employees weren't so sure.
