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Keyword: financereform

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  • Debit card spending limit? Banks consider a $50 cap

    03/10/2011 1:08:35 PM PST · by Whenifhow · 86 replies
    http://finance.yahoo.com ^ | 3-10-11 | Blake Ellis
    .....Your debit card may soon be denied for purchases greater than $100 -- or even as little as $50. JPMorgan Chase, one of the nation's largest banks, is considering capping debit card transactions at either $50 or $100, according to a source with knowledge of the proposal. Why? Because of a tricky thing called interchange fees. Right now, every time you swipe your debit card, your bank charges the retailer an average fee of 44 cents, which it shares with its partners. .... And consumers would end up feeling the pain when Bank of America is forced to recoup costs...
  • Financial reform law includes big cash incentives for whistle-blowers [gov't $ for informants]

    07/23/2010 2:29:47 PM PDT · by matt1234 · 7 replies
    LA Times ^ | July 23, 2010 | David Savage
    The new financial reform law has what some lawyers call a secret weapon against fraud on Wall Street and in corporate America: the promise of a million-dollar jackpot to insiders who reveal an illegal scheme to the government. Tucked in the massive bill is a provision that for the first time extends a concept long applied to government contracts to the private sector. It gives whistle-blowers a mandatory 10% — and as much as 30% — of what the government recoups in fines and settlements in financial fraud cases. These can include insider trading, false earnings reports and classic Ponzi...
  • My Letter to Scott Brown

    07/13/2010 7:55:39 AM PDT · by bt_dooftlook · 17 replies · 2+ views
    Me | July 13, 2010 | Me
    My letter to Scott Brown via his Senate office web site: ------------ Key observations: 1. Bill doesn't address Fannie Mae, and Freddie Mac, which were principal causes of the meltdown by lowering the credit standards for loans for their portfolios. 2. Bill is laced with minority/gender/diversity outreach nonsense, all of which will raise costs, reduce performance, and tilt the system away from fiduciary responsibility to "social" responsibility - if you feel giving loans to people who can't afford them is good policy, why not submit a bill that says that instead of hiding this nonsense in a bill that pretends...
  • Wall Street bill back to conference as Democrats don't have the votes

    06/29/2010 2:36:12 PM PDT · by BradtotheBone · 6 replies
    The Hill ^ | 06/29/10 02:06 PM ET | Silla Brush
    Senate and House conferees on Wall Street reform are reconvening Tuesday because of Republican objections to $19 billion in fees that would be placed on big financial firms. The meeting follows Sen. Scott Brown's (R-Mass.) letter to the chairmen of the conference committee on Tuesday, in which he said he would oppose the Wall Street overhaul bill as it stands. In a letter to Rep. Barney Frank (D-Mass.) and Sen. Chris Dodd (D-Conn.), Brown expressed "strong opposition" to the fees that were added in the conference process between House and Senate lawmakers last week. "If the final version of the...
  • Wall Street Reform: A Summary of What's In the Bill

    06/25/2010 3:30:05 PM PDT · by La Enchiladita · 12 replies · 1+ views
    CBS News ^ | June 25, 2010 | Jill Jackson
    Here is a summary of the The Wall Street Reform and Consumer Protection Act, the long-awaited financial reform overhaul that passed out of conference committee at 5:39 a.m this morning. Both the House and Senate are expected to pass the conference report next week so that it is on President Obama's desk by the July 4th recess. The provisions below are broken into two groups -- those that mainly affect consumers and those that mainly affect financial institutions.
  • Freep Kosmas Today!

    06/16/2010 6:22:37 AM PDT · by Big Guy and Rusty 99 · 3 replies · 138+ views
    none | 06/16/2010 | Big Guy and Rusty 99
    Due to the big thunderstorm yesterday, we are doing the protest of Suzanne "Kooky" Kosmas regarding the finance reform bill today. Contact me if you are interested. It is going to be Tuesday 6/15 at 5:30pm at her Orlando office. 12424 Research Parkway Orlando, FL 32826-3249
  • Freep Kosmas today!

    06/15/2010 6:15:44 AM PDT · by Big Guy and Rusty 99 · 3 replies · 242+ views
    06/15/2010 | Big Guy and Rusty 99
    Hey, We are doing a protest of Suzanne "Kooky" Kosmas regarding the finance reform bill. Contact me if you are interested. It is going to be Tuesday 6/15 at 5:30pm at her Orlando office. 12424 Research Parkway Orlando, FL 32826-3249
  • Obama: GOP backed down on Wall Street (O talking smack now that Scott Brown folded like wet suit)

    05/22/2010 8:58:31 PM PDT · by pissant · 52 replies · 1,233+ views
    The Hill ^ | 5/22/10 | Jordan Fabian
    Republicans were forced to "back down" from blocking Wall Street reform, according to a fundraising letter sent by the president. In the e-mail to his supporters, President Barack Obama wrote that pressure on lawmakers forced Republicans to "back down" from blocking the legislation, which the Senate passed Thursday. "This movement proved again that the strongest special interests, who for so long have called the shots in Washington, can be beat," he wrote. "When opponents in Congress tried to block the legislation altogether, you stood up -- and they backed down. When the lobbyists pushed for loopholes and exemptions just before...
  • ‘Brace’ Yourself: Wall Street Regulation Bill Snares Dentists, Doctors & Patients

    05/06/2010 9:25:24 AM PDT · by DukeBillie · 12 replies · 1,055+ views
    BigGovernment ^ | May 6, 2010 | Sen. Jim DeMint
    The Democrats’ health care takeover didn’t stop with ObamaCare and there are some hurtful provisions in the new financial regulation bill Americans should know about if they have any expensive dental procedures coming up. For millions of American teenagers braces are an embarrassing rite of passage, and for their parents, a tremendous cost. According to bracesinfo.com [1], the average prices of straightening a teenager’s teeth is about $5,400. In South Carolina, where themedian family income is approximately $45,000 [2], the cost of braces for one child can total more than 10 percent of a parent’s gross income for the year....
  • Senate to vote on key Wall Street reform component

    05/05/2010 1:02:03 PM PDT · by mlocher · 4 replies · 234+ views
    Reuters via Fidelity.com ^ | May 5, 2010 | Kevin Drawbaugh and Andy Sullivan
    WASHINGTON (Reuters) - The Senate was expected to vote by Wednesday afternoon on a new "orderly liquidation" system for dismantling distressed financial firms that will exclude a proposed $50 billion fund to help pay for it, according to the Senate's chief author of Wall Street reform. After months of negotiations, Democratic Senator Christopher Dodd said he and Republican Senator Richard Shelby had reached an agreement that instead calls for covering the costs of liquidations after the fact by selling off parts of the troubled firm or assessing a fee on other companies. The Dodd-Shelby plan is an effort to end...
  • Finance Reform = Government Takeover

    05/05/2010 9:37:25 AM PDT · by bs9021 · 1 replies · 216+ views
    Accuracy in Academia ^ | May 6, 2010 | James F. Davis
    Finance Reform = Government Takeover James F. Davis, May 5, 2010 It’s time to take our heads out of the sand about the agenda of President Obama and his insider supporters. Having passed legislation that will give government bureaucrats the power over who gets medical care and who doesn’t, he has now set his sights on taking control over who gets money and who doesn’t—of every person in the USA through the alleged “Financial Reform Bill.” In effect, if this Trojan horse legislation passes in its present form, the President will have control over every citizen’s savings and every enterprise’s...
  • GOP blocks Senate financial bill for third day

    04/28/2010 10:11:57 AM PDT · by mlocher · 28 replies · 837+ views
    Reuters via Fidelity.com ^ | April 28, 2010 | Reuters
    WASHINGTON (Reuters) - Senate Republicans again mustered enough votes on Wednesday to block debate of a Democratic financial regulation reform bill, pushing a standoff over the legislation into its third day. By a vote of 56 to 42, Democrats for a third time fell short of the 60 votes needed to advance legislation in the 100-member body. The Senate's Republicans also voted unanimously on Monday and Tuesday to block formal debate on the bill.
  • Mark Warner agrees with Republicans on flaws in financial regulation bill

    04/27/2010 6:07:00 PM PDT · by blueyon · 179+ views
    Senator Mark Warner agrees with Republicans that the financial regulation bill presently being considered by of the U.S. Senate. According to The Daily Caller Sen. Mark Warner, the Virginia Democrat who has been closely involved in negotiations, said that concerns being raised by Republicans about potential bailouts of large financial institutions are legitimate. “There are parts that need to be tightened,” Warner said, referring to the bill in the same manner as Sen. Richard Shelby, Alabama Republican and ranking member on the Senate Banking Committee. On the senate floor this morning, Senate Majority Leader Mitch McConnell (R-Ky) said “Last night,...
  • With Republicans like Snowe who needs Democrats?

    04/27/2010 7:12:46 AM PDT · by Alaphiah123 · 30 replies · 350+ views
    Creating Orwellian Worldview ^ | 4/27/10 | alaphiah
    She is solely responsible for the Health Care Reform Law. Without her vote the bill doesn’t get out of the senate finance committee and we wouldn’t be facing this Liberal Democrat Europeanization of America via Health Care law. Now Democrats want to permanently bailout the financial institutions which incidentally they demonized as the bad guys responsible for the global financial meltdown (but were only to big to fail), and now who is it that Democrats look to so that they can proceed with the one Republican vote need to put their plans into action? Why the Senator from Maine Olympia...
  • Financial sector frets reform may hit business

    04/26/2010 8:35:38 PM PDT · by mlocher · 208+ views
    Reuters via Fidelity.com ^ | April 26, 2010 | Paritosh Bansal and Megan Davies
    BEVERLY HILLS, California (Reuters) - Financial services executives are apprehensively watching regulation reform make its way through Washington, worried measures such as a bailout fund and restrictions on derivatives would hurt business. But executives, investors and advisers at the Milken Institute'sGlobal Conference agreed on the need for reform of financial regulation to prevent crises in the future. "We need a bipartisan bill here because we need both sides to contribute their best ideas to this reform. And we need reform," said Kenneth Griffin, the chief executive of hedge fund Citadel Investment Group. "It will hurt business if we end up...
  • Senators near agreement on financial regulation

    04/25/2010 4:24:16 PM PDT · by mlocher · 12 replies · 515+ views
    Reuters via Fidelity.com ^ | April 25, 2010 | Donna Smith
    WASHINGTON (Reuters) - Senators negotiating financial regulatory reform legislation said on Sunday they were close to a bipartisan agreement, as the White House said fraud charges against Wall Street titan Goldman Sachs highlighted the need for reform. Democratic Senate Banking Committee Chairman Christopher Dodd and Senator Richard Shelby, the panel's top Republican, told NBC's "Meet the Press" they were talking through the weekend to try to reach agreement on a bill aimed at preventing future taxpayer bailouts of financial firms. "We're getting there, we're close, we've got more work to do," Dodd said. "I hope can get the votes tomorrow...
  • Bull On Wall Street

    04/22/2010 5:26:57 PM PDT · by Kaslin · 5 replies · 291+ views
    Investors.com ^ | April 22, 2010 | INVESTORS BUSINESS DAILY Staff
    Regulation: President Obama went to New York City Thursday to make clear his displeasure with what he called Wall Street's "failure of responsibility." But that's the very thing government is guilty of.
  • Votes in doubt as Sen. Harry Reid sets Monday Wall Street showdown

    04/23/2010 4:03:05 AM PDT · by blueyon · 23 replies · 1,161+ views
    The Hill ^ | 4/22/10 | Alexander Bolton
    The Senate has scheduled a showdown early next week on Wall Street reform, and lawmakers familiar with negotiations say a deal is unlikely by then. Democrats have set a 5 p.m. vote for Monday to begin consideration of the bill, giving negotiators only four more days to reach a deal on a document exceeding 1,400 pages.
  • Gerald Celente: Obama's Finance reform are just another episode of his reality show

    04/22/2010 2:30:51 PM PDT · by blueyon · 3 replies · 295+ views
    Trends and forcast ^ | 4/22/10 | Gerald Celenta
    Gerald Celente: Finance reform, just a show the same people who deregulated are now regulating ? asks Gerald Celente this is just another episode in the president reality show and show them they are doing something Wall Street regulation is the hot topic today; President Barack Obama gave a speech to the finance industry encouraging them to join him in reforming Wall Street. Gerald Celente says that there is a huge problem with Obamas Financial Reform bill because the same people that got us into this economic mess are the ones advising Obama.
  • Obama is winning the wrong battle… again

    04/21/2010 7:20:24 AM PDT · by Big Bureaucracy · 13 replies · 356+ views
    Big Bureaucracy ^ | April 21st, 2010 | Ellie Velinska
    The unemployed American who is filing his/her 867th on-line job resume is told these days that President Obama is winning on Financial Reform. The mother that is trying to find an answer for her son’s question (Where does Daddy work?) is made to believe that Obama is waging a war against his friends and main contributors on Wall-Street. The teenager who went to a Job Fair just to be told by smiling Human Resources reps to apply for the job on-line is lead to believe the bad guys who caused the unemployment are being punished. In fact President Obama left...