Congress, Financial Reform | featured news

Congress must act to close gaps in the regulatory system that helped cause the financial crisis, a former head of the Securities and Exchange Commission said....

Top Republicans appeared nearer to a deal with Democrats on a financial regulation bill, with the ranking senator on the banking committee saying that they were “very close” on the key particulars.

A Senate committee on Wednesday passed a proposal aimed at helping protect the economy from future meltdowns and taxpayers from more Wall Street bailouts.

The U.S. is destined to endure a new economic crisis that sticks taxpayers with the bill unless Congress tightens oversight of ...

Republican Senator Bob Corker said Thursday he believes a "solid bipartisan bill" on financial regulatory reform will emerge from Congress despite the partisan rhetoric dominating the debate.

In his weekly radio and Internet address, President Obama said that Congress needed to enact reforms to protect consumers, keep banks strong and safeguard the U.S. economy.

With time running out on the Senate calendar, the banking committee chairman says he wants the panel to begin considering the bill March 22, even though the GOP can block legislation.

With time running out this year for the Senate to deal with financial regulatory reform legislation, Senate Banking Committee Chairman Christopher Dodd said Thursday he plans to offer his own bill after lengthy bipartisan talks failed to produce a consensus.

Bernanke called on Congress to act on financial reform efforts, as the central bank itself works to implement a number of measures that should help shore up the financial system.

The financial sector ranks just behind the health industry in lobbying Congress this year: $223 million has been spent to influence financial reform efforts, according to the Center for Responsive Politics.

But Politico reports that the lobbying frenzy over "re-regulation" efforts is just beginning.