House Republicans are still furious about President Obama's recess appointment of Richard Cordray to run the Consumer Financial Protection Bureau.
Rep. Spencer Bachus, chairman of the House Financial Services Committee, acknowledged Friday that he is under investigation for possible violations of insider trading laws, but insisted he will be cleared.
After weeks of speculation about how more than a billion dollars in customer money went missing at MF Global, former CEO Jon Corzine will give his side of the story on Capitol Hill Thursday.
Medical debts that you paid off long ago can drag down your credit score for years after you've settled them. But recently proposed legislation could mean old doctor bills will finally be erased from your credit report.
Rating agency officials declined to rate competing political plans to allow the United States to borrow more and cut deficits during a congressional hearing Wednesday.
The congressman likely to supplant Rep. Barney Frank as chairman of the House Financial Services Committee is asking regulators to carefully consider the implications of a new rule designed to limit risky trading.
Better-than-expected results from big names JPMorgan Chase and Intel failed to inspire investors last week. Can this week's crop of marquee name companies recharge the rally's engine?
Executives for mortgage companies and government officials faced an angry congressional committee Tuesday concerning some of the problems with the Obama administration's mortgage-aid program aimed at avoiding foreclosures.
The House passed a bill Wednesday to move up credit card reforms scheduled to take effect in February.
Would credit card companies consider adopting a one page contract? CNN's Jessica Yellin takes a look.
Congress wants to help protect seniors who buy complex investment products that they don't understand or may do more harm than good.
One year after risky practices by the nation's biggest banks almost brought down the economy, many of those institutions are even bigger -- and some say even riskier.
In the wake of the financial meltdown, Wall Street banks remain pariahs in Washington. But Main Street banks are winning big.
President Obama on Friday made his strongest push yet for the creation of a new consumer protection agency, lashing out against those who have lobbied hard to stand in its way.
Financial consumers would have fewer protections than originally envisioned under a draft of a bill being circulated on Capitol Hill.
The pig of U.S. financial reform will be stuck in the legislative python a bit longer. U.S. lawmakers are about to flee steamy Washington for their month-long summer recess, leaving much of Barack Obama's ambitious agenda hanging.
If you hold a credit card, mortgage or a student loan, Congress is considering a new agency designed to give you a lot more protection.
A key House panel on Wednesday advanced a bill to crack down on credit card interest rates and fees amid signs the Obama administration will try to toughen the bill further before it goes to a full vote.
The last full week in the quarter is a critical one for investors as they look for reasons to either resurrect the stalled rally or retreat even further.
The Obama administration on Wednesday released more details of its plan to give the government more power to take over and wind down troubled financial deemed too big to fail.
White House press secretary Robert Gibbs previews President Obama's prime time news conference
Treasury Secretary Tim Geithner will push for unprecedented new regulatory powers on Tuesday to seize financial institutions whose failure would pose serious risks to the U.S. financial system, according to two senior administration officials.
The next week -- the last full week in the quarter -- promises to be a critical one for investors looking for reasons to either resurrect the stalled rally or retreat even further.
Criminal investigations of Wall Street continue to soar and now total 43, a top FBI official told Congress Friday.
Policymakers are reaching deep into their toolbox in search of a fix for the troubled financial markets. And once again, they are targeting short sellers, investors who profit when a stock price falls.
Bank of America's chief executive officer spent four hours Thursday testifying in an investigation into the $3.6 billion in bonuses that Merrill Lynch paid out just before it was acquired by the bank last year, but still refused to give out the details of those payments.
Bank of America's chief executive officer spent four hours Thursday testifying in an investigation into the $3.6 billion in bonuses that Merrill Lynch paid out just before it was acquired by the bank last year, but still refused to give out the details of those payments.
Lawmakers grilled the top executives from eight of the nation's largest financial institutions Wednesday about their apparent lack of willingness to lend to consumers and businesses despite taking in billions of dollars in government aid.
The chairman of the House Financial Services Committee, Rep. Barney Frank, D-Mass., invited CEOs from the first eight companies that received bailout funds to testify in an accountability hearing on the Troubled Asset Relief Program.
The congressional battle over President Barack Obama's unprecedented and far-reaching plan to spend $550 billion to jolt the economy will begin in earnest on Wednesday.
If the "Big 3" get a bailout, is it too late for auto dealerships? CNN's Alina Cho reports.
A newspaper advertisement for a Miami car dealership reads more like a coupon for bags of potato chips: "Buy one, get two!"
Some lawmakers lashed out at the CEOs of the Big Three auto companies Wednesday for flying private jets to Washington to request taxpayer bailout money.
The Treasury Department said Monday that it has dispersed $33.56 billion to 21 banks in a second round of payments as part of the $700 billion bailout program designed to boost the nation's banking system.
Investors returning to work Monday face what is expected to be a weeklong display of the depth of the downturn - a torrent of bad economic news.
Rep. Barney Frank, chairman of the House Committee on Financial Services, highlighted the need for a bailout program for troubled homeowners on Wednesday. But he stressed that not all borrowers should necessarily be rescued.
When the Treasury Department first unveiled its plan to buy stakes in banks last month, the move was heralded as a potential savior for fast-sinking banks and financial firms.
Warned that time was running short to bolster the distressed
economy, congressional Republicans and Democrats reported agreement in
principle Thursday on a $700 billion bailout of the financial industry
The Bush administration wants to help beleaguered financial institutions - and prevent the financial crisis from getting worse - by spending $700 billion to buy up troubled mortgage securities.
On the day of the first public discussion between lawmakers and the administration about the Treasury's $700 billion financial rescue proposal, the debate is being framed by a few key issues.
CNNMoney: Democrats push backupdated: Sun Sep 21 2008 19:55:00
Democratic leaders on Capitol Hill said on Sunday that the Bush administration's $700 billion proposal to bail out the financial system lacked necessary safeguards for taxpayers and homeowners.
Congressional leaders said Friday that they were determined to quickly pass a massive plan to stabilize the financial market after they heard a "sobering" assessment from the administration's economic team.
A key House committee grilled home lenders and housing advocates on Friday about mortgage industry efforts to work out affordable loans for troubled homeowners.
A key House committee was set to grill home lenders and housing advocates on Friday about mortgage industry efforts to work out affordable loans for troubled homeowners.
Oil prices plummeted Wednesday, bringing the two-day selloff to $10.58 a barrel, on reports indicating that demand for oil and gas may slacken in the future.
Federal Reserve Chairman Ben Bernanke testifies for a second day before Congress amid a backdrop of fading confidence in the U.S. economy
Been turned down for a credit card lately? Probably not if you're a teenager with no job and no credit history.
When the housing crisis hit last summer, it became very hard for borrowers to land the jumbo loans they needed to buy homes in high-priced areas, like California and New York.
A bill meant to help homeowners caught up in the spreading mortgage crisis received committee approval Thursday after Democrats fended off numerous Republican challenges to the bill.
A bill meant to help homeowners caught up in the spreading mortgage crisis received committee approval Thursday after Democrats fended off numerous Republican challenges to the bill.
Congressional Democrats and the White House are on a collision course over an ambitious proposal drafted to address the spreading mortgage crisis.
Do investment banks need some form of adult supervision?
Government officials urged credit rating agencies Wednesday to rethink the way they rate municipal bonds, arguing that the current system saddles local governments and taxpayers with unnecessary costs.
Federal regulators stressed the importance of leaving the United States open to investments by sovereign wealth funds Wednesday, but warned of the need to push for better transparency among these growing state-sponsored entities.
This year's special rebate checks haven't been mailed out yet, but Congress is working on a foreclosure-prevention bill in conjunction with more proposals aimed at stimulating the economy.
The bond insurance crisis will come under congressional scrutiny Thursday as a number of high-profile players including Ambac and MBIA executives and New York Gov. Eliot Spitzer are scheduled to testify before lawmakers.
House Financial Services Committee Chairman Barney Frank, D-Mass., has secured two key Republican endorsements on his legislative plan to reform the mortgage industry, avoiding a potentially bruising political fight this week.
Bar mortgage brokers from getting bonuses to sign up borrowers for more costly loans. Force lenders to verify whether consumers are able to repay loans.
Since the subprime crisis erupted, plenty of blame has been pinned on the big credit rating agencies. Just what went wrong at these firms - and what can be done to stave off another disaster - will be the topic of hearings on Capitol Hill this week.
Many community groups had little good to say about Washington's most recent response to the subprime mess.
Make more money available for mortgages to ease the credit crunch. Give borrowers greater protection from predatory lenders. And encourage homeowners to call their bank.
The dollar took another fall on currency markets Thursday, reaching one-to-one parity against the Canadian dollar for the first time in 30 years and plumbing a new low against the 13-nation European currency.
If home prices fall as forecast, the $23 trillion housing market could lose $3 trillion in value by August 2008, a leading housing economist and former mortgage bank president told lawmakers on Wednesday.
The subprime crisis has put lawmakers under pressure to do something not only to help homeowners who could lose their homes but also to nail the guys who created the mess.
Rep. Paul Gillmor of Ohio was found dead in his townhouse in Arlington, Virginia, on Wednesday, leadership aides for both the Republican and Democratic parties said.
Police said on Thursday they have no reason to be suspicious of Ohio Rep. Paul Gillmor's death a day earlier.
The full impact of the upheaval in financial markets "has yet to play out," a top administration official said Wednesday, while stressing that the effect will be dampened somewhat by solid economic growth
The worst housing slump in 16 years and upheaval in financial markets have cast a shadow on the economy, leading lawmakers to question federal regulators
The full impact of the upheaval in financial markets "has yet to play out," a top administration official said Wednesday, while stressing that the effect will be dampened somewhat by solid economic growth.
The House Financial Services Committee asked the Federal Reserve and the U.S. Treasury Department to testify at a hearing Sept. 5 that will examine the current crises in the credit and mortgage market, Chairman Barney Frank, a Massachusetts Democrat, said Monday.
The U.S. House Financial Services Committee said Thursday it will hold a July 11 hearing into systemic risks to the economy and the financial system posed by hedge funds.
Bear Stearns does not plan to bail out the second of two struggling hedge funds - citing stabilizing markets - but the subprime loan woes that brought the funds down continue to rattle investors.
U.S. lawmakers asked the Securities and Exchange Commission on Tuesday to clarify an accounting rule that may be preventing some institutions from making loan modifications to help subprime mortgage borrowers.
Lawmakers will take a closer look at the exclusive world of private equity on Wednesday, with a focus on the effect that buyouts can have on companies and on workers.
The House passed legislation that gives shareholders a nonbinding say on executive compensation on Friday.
A series of speakers at a Congressional hearing of the House Financial Services Committee on Tuesday called for restructuring adjustable rate mortgage (ARM) loans to help solve the subprime mortgage crisis.
The recent wave of defaults in the subprime mortgage sector that sent shocks through Wall Street has caught the attention of Congress.
Merrill Lynch & Co. Inc. annouced Wednesday former congressman Harold E. Ford will join the firm as vice chairman and senior policy advisor, effective March 5.
The traditional two-day Fed hearing may no longer be enough for Congress.
Businesses that have been complaining about the cost of complying with the Sarbanes-Oxley corporate reporting regulations will get some, but not all, of the relief they've been seeking, according to a published report.
CNNMoney: Bonds extend gainsupdated: Fri Jul 21 2006 07:36:00
Treasury prices rose for the third straight session as investors interpreted Federal Reserve Chairman Ben Bernanke's comments as a hint that interest rates may be set for a pause.
Bonds fell Monday as traders prepared for possibly hawkish congressional testimony from new Federal Reserve Chairman Ben Bernanke.
Lisa Boxer is suffering from sticker shock--and not from the cost of a new car or refrigerator. In May her husband was transferred from Florida to New York City. That gave the couple four months to...
Money Magazine: Where's the bubble?updated: Tue Sep 10 2002 16:43:00
Lisa Boxer is suffering from sticker shock -- and not from the cost of a new car or refrigerator.
When the House Committee on Financial Services hauled top WorldCom executives onto Capitol Hill in early July, its intent was to uncover how and why the telco booked nearly $4 billion of operating ...
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