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JPMorgan CEO Jamie Dimon met with Treasury Secretary on Volcker in March
By Nancy Watzman May 16, 2012 2:34 p.m.Newly published meeting logs from the Treasury Department show that Jamie Dimon, CEO of embattled JPMorgan & Chase, had a private audience with Secretary Timothy Geithner to discuss the Volcker rule and other issues on March 6.
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Trying to track JPMorgan? Treasury Dodd-Frank meeting logs not up to date
By Nancy Watzman May 16, 2012 1:51 p.m.Updated 4:22 p.m. The Treasury Department has now fixed the link to March meetings with outside groups concerning implementation of the Dodd-Frank financial reform law. A spokesman also just called to thank us for alerting the agency to the missed deadline.
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FINRA: Open data not on the table
By Nancy Watzman Mar 8, 2012 5:45 p.m.A quasi-governmental agency that polices the investment industry has come up with a plan to make it simpler for consumers to avoid shady money managers -- but it includes no provisions to make the underlying data available to the public.
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Big banks press financial agencies on Volcker rule
By Nancy Watzman Feb 14, 2012 12:42 p.m.Big banks paid calls on federal financial agencies in the days leading up to Monday's midnight deadline for the public to submit comments on the controversial Volcker rule, a provision of the Dodd-Frank financial regulatory legislation meant to prohibit banks from using customers' money to make risky bets on the market.
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Revolving door from CFTC to lobbying firm
By Nancy Watzman Feb 7, 2012 3:26 p.m.A former Commodity Futures Trading Commission (CFTC) commissioner has gone through the revolving door to the law and lobbying firm firm Patton Boggs, where he'll work as a senior policy advisor, the firm announced Tuesday.
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Despite Fed's steps toward transparency, much remains opaque
By Nancy Watzman Jan 24, 2012 2:25 p.m.In a bid to increase transparency, the Federal Reserve will for the first time make public the forecasts for benchmark interest rates that will inform discussions at tomorrow's meeting of the Federal Open Market Committee (FOMC), which sets monetary policy for the nation. But despite this action, there is still plenty of opacity in how the Fed conducts business.
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Regulators lobbied by industry testify on Volcker rule
By Nancy Watzman Jan 18, 2012 3:42 p.m.Federal regulators have had at least 89 meetings with outside groups, most of them big banking interests, about the controversial "Volcker rule," the provision in the Dodd-Frank financial law that prohibits banks from making bets with their own money. The effort to curb the practice, widely held to be a contributor to the 2008 financial meltdown, was the subject of a hearing in Congress today.
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Data lacking on private student loans
By Nancy Watzman Jan 13, 2012 12:50 p.m.With student debt rising to a projected $1 trillion and concerns rising in the Occupy Wall Street movement and beyond about the bursting of the student loan bubble, the new federal consumer protection agency has set a Tuesday deadline for the public to send in data and stories about the rapidly expanding private student loan market—loans students are getting from banks and, increasingly, by for-profit universities such as Corinthian Colleges and DeVry University.
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Futures industry nabs former government regulator as new leader
By Nancy Watzman Jan 10, 2012 5:06 p.m.In the latest example of a former financial regulator finding employment in the industry, the Futures Industry Association (FIA) has announced that its new president will be a former leader at the Commodity Futures Trading Commission (CFTC).
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Meetings missing from CFTC website
By Nancy Watzman Dec 7, 2011 1:32 p.m.A week before Commodity Futures Trading Commission (CFTC) commissioners unanimously approved new rules restricting how brokerage firms may invest customer funds, executives from Newedge, which had pushed against the rules along with the now bankrupt firm MF Global, attended several meetings with high ranking CFTC officials.
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Central banks ease terms on currency swaps
By Nancy Watzman Nov 30, 2011 11:11 a.m.Stocks surged today as the announcement settled in that six central banks are joining forces to ease terms of currency liquidity swaps. As we have reported earlier here and here, the European Central Bank has recently been increasing its borrowing under the emergency swap facility, which is similar to that set up during the 2008 financial crisis, when lending at one point peaked at $586 billion.
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Moody's has most employees leaving through revolving door
By Stevie Mathieu Nov 16, 2011 10:29 a.m.Moody's credit rating service -- one of the major credit rating agencies that was cited as a contributor to the 2008 financial meltdown -- has more employees go through the revolving door to work at companies they used to rate than any other credit rating agency, according to new Securities and Exchange Commission (SEC) filings required under the Dodd-Frank financial law.
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MF Global pushed regulators to use client funds
By Nancy Watzman Nov 2, 2011 1:52 p.m.Late last year MF Global—the failed investment firm headed by Democratic heavyweight Jon S. Corzine that can't account for as much as $900 million of its clients' money--urged a federal agency to allow futures firms to invest funds from their customer segregated accounts in foreign sovereign debt.
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Federal Reserve delays release of transcripts of major meetings
By Nancy Watzman Oct 28, 2011 10:58 a.m.If you want to know who says what at next week's meeting of the Federal Reserve’s Federal Open Market Committee (FOMC), which oversees market operations for the central bank, you will have to wait until the year 2016 to find out.
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