Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (01/28/2010)
* WASHINGTON (1/29/10)--The Senate voted Thursday to confirm Ben Bernanke as Federal Reserve Board chairman for another four years. The vote on the final confirmation was 70-30. The final vote followed a cloture vote to avoid filibuster threats (MarketWatch Jan. 28) ... * WASHINGTON (1/29/10)--Treasury Secretary Timothy Geithner said Wednesday during a hearing on the bailout of American International Group (AIG) that he supports President Barack Obama’s plan to tax big banks and limit their growth. If Obama’s plan is adopted, taxpayers will not have to pay for industry bailouts, Geithner said. He also addressed questions about whether Obama’s plan would roll back Depression-era Glass-Steagall legislation, saying that the proposed Volcker rule--which would ban proprietary trading--is not the same as Glass-Steagall. Under Volcker, banks could still underwrite securities, Geithner said. During the hearing, he was questioned on his involvement with AIG’s bailout and the limits on some disclosures. Geithner said he was not involved with the decision to limit disclosures on the payments because he had recused himself after being nominated for a Treasury job (American Banker Jan. 28) ... * WASHINGTON (1/29/10)--The Federal Reserve’s policymaking committee said it will hold a final cash auction March 8 for $25 billion. A Feb. 8 auction also will be held for $50 billion (American Banker and News Now Jan. 28). The auctions, launched in December 2007, are a way for banks to borrow money from the central bank. The Fed auctioned off as much as $150 billion at the height of the financial crisis ...


RSS print
News Now LiveWire
Economic activity slowed in June, according to the #Chicago Fed's national activity index, released today #Market http://t.co/1pN6peM8my
14 hours ago
Money burns a hole in workers' pockets after payday, despite best intentions via @WSJeconomy http://t.co/A9SNiUdf9v
14 hours ago
"SAR Stats," new from #FinCEN, focuses on #bitcoin. See #NewsNow http://t.co/vS7iTwY2SW
15 hours ago
.@CFPB now accepts consumer complaints on prepaid cards, debt settlement services, credit repair services, and pawn and title loans.
16 hours ago
.@WellsFargo to process transactions in order received, not high to low http://t.co/g0jWJoegoJ
16 hours ago