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Bank executives plead case to administration officials over Volcker rule
By Anupama Narayanswamy Oct 24, 2011 12:32 p.m.Top executives with major banks met regularly with federal agency officials who were writing a draft rule meant to curtail risky Wall Street trading — known popularly as the Volcker rule, named for the former chairman of the Federal Reserve, Paul Volcker — federal agency meeting records show.
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Dodd-Frank: How investment banks contributed to the financial crisis
By Nancy Watzman Jul 29, 2011 10:35 a.m.The Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in response to the financial crisis of 2008, added new regulations and new regulators for some—but not all—of the institutions whose actions led to the crisis. Over the next several days, we’ll be taking a look at each of the major groups of contributors to the economic crisis, who the major players were, what political influence they brought to bear on Congress and regulators, how Dodd-Frank intends to regulate them, and, using our new Dodd-Frank Meeting Logs tool, what rules these groups are trying to influence as agencies implement the legislation.
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Sunlight Live to cover Dodd-Frank anniversary hearing
By Chris Zubak-Skees Jul 20, 2011 2:06 p.m.This Thursday, one year after the president signed a sweeping new financial reform bill into law, the Senate Banking Committee will ask tough questions of regulators in charge of making it real. And Sunlight will cover it live.
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Lobbyists swarm agencies as Dodd-Frank is implemented
By Anupama Narayanswamy Jul 19, 2011 11:34 a.m.Throughout the last Congress, which adopted far-reaching reforms of the financial sector through the Dodd-Frank Wall Street Reform and Consumer Protection Act, there were an average of 577 clients lobbying on issues related to the act. Eventually some 1,172 clients—including banks, ratings agencies, investment banks, securities firms and a host of other interests with a stake in the legislation—listed Dodd-Frank or related issues on their lobbying disclosure forms. And in 2011, lobbyists for some 488 clients are still lobbying on the bill, according to the most recent data from the Center for Responsive Politics.
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Bills designed to alter or repeal Dodd-Frank
By Ryan Sibley Jul 19, 2011 11:21 a.m.When Republicans took over the House after the mid-term elections in 2010, one of the first things on the agenda for some members was to alter or repeal the sweeping financial reform passed by the previous Congress.
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Goldman Sachs, financial firms flood agencies to influence financial law, new Dodd-Frank tracker shows
By Nancy Watzman Jul 18, 2011 11:32 a.m.Investment bank Goldman Sachs, one of the major players in the crisis that led to the economic meltdown of 2008, has had more meetings with government officials about the implementation of the law intended to reform the financial system than any other company or organization, an analysis of nearly a year’s worth of financial agency meeting logs shows.
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Dodd-Frank: Will the bill overturn decades of industry influence?
By Bill Allison Jul 18, 2011 11:31 a.m.The financial crisis had several authors--federal policies that opened the door to predatory mortgage lending, unregulated financial products, integrated firms that borrowed heavily from one another to invest in the "sure bet" of mortgage-backed securities, and hedge funds and insurers that sought to profit by mitigating risk through complex financial instruments. In the aftermath of the crisis, Congress passed and President Obama signed on July 21, 2010, the Dodd Frank Wall Street Reform and Consumer Protection Act to set new safeguards for the public, to rein in financial firms, to ensure oversight of new types of financial instruments, and to give regulators more tools to prevent another crisis.
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Agencies slow to provide new data required by Dodd-Frank
By Lindsay Young Jul 18, 2011 11:30 a.m.One year after passing Dodd Frank Financial reform, much of the work of reforming America’s financial system still lies ahead. This is not too surprising considering the sheer size of the legislation. The law created 243 rules and requires agencies to produce 67 studies, according to Harvard Law School Forum on Corporate Governance and Financial Regulation. One-hundred-twenty-two deadlines are due between July 16 and July 21.
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Major banks use one lobbyist to team up on Dodd-Frank
By Ryan Sibley May 24, 2011 11:25 a.m.The international law firm, Cleary, Gottlieb, Steen and Hamilton LLP, is lobbying Congress on behalf of three of the world’s biggest financial institutions regarding the derivatives market -- one of the major issues tackled by the Dodd-Frank financial reform legislation, according to disclosure forms filed this year.
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Financial regulation deadlines missed
By Nancy Watzman May 11, 2011 2:20 p.m.In April, federal financial agencies missed every single rulemaking deadline--26 of them--mandated by the massive Dodd-Frank financial overhaul law, according to a recent report by the law firm Davis, Polk & Wardell.
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Wall Street revolver takes regulatory insight to Bank of America
By Ryan Sibley Apr 18, 2011 1:55 p.m.One Wall Street revolver will continue a very successful post-regulatory agency career with a newly created position at Bank of America, the nation's largest bank.
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Bernanke is positive about economy, despite poor markets
By Ryan Sibley Mar 1, 2011 6:17 p.m.The Federal Reserve Chairman, Ben Bernanke, said he believes the economy will continue to grow this year despite high unemployment rates, weak job growth and an “exceptionally weak housing sector”.
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Top financial regulators meets with industry leaders, lobbyists
By Nancy Watzman Feb 18, 2011 9:57 a.m.Elizabeth Warren, who has been charged with setting up the new Consumer Financial Protection Bureau, reported more meetings with individuals outside the government in December than any other Treasury official working on implementation of the Dodd-Frank financial law.
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Big lobbyists battle for big and small clients over Dodd Frank fee cap
By Ryan Sibley Feb 11, 2011 11:07 a.m.As the House Committee on Financial Services readies for next week's hearings to discuss new regulations for the banking industry, lobbyists lined up to battle over the changes, extending a battle between small banks, big banks and big retailers.
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