Obama signs executive order establishing new unit to combat financial fraud
US President Barack Obama signed an executive order Tuesday creating a Financial Fraud Enforcement Task Force to be headed by the Department of Justice (DOJ) as lead agency. The task force, which continues the...
House committee approves consumer financial protection agency legislation
The US House Financial Services Committee voted 39-29 Thursday to approve a bill that would create a Consumer Financial Protection Agency. The agency would regulate mortgages, credit cards, and other consumer credit...
KindHearts ruling exposed Treasury Department's unconstitutional freezing of Muslim charity assets
Sahar Aziz : "A recent ruling by a federal district court signifies an encouraging shift for Muslim charities in the United States. For many such non-profits, mere investigation by the Department...
Kindhearts for Charitable Humanitarian Development, Inc. v. Geithner, US District Court for the Northern District of Ohio, August 18, 2009 ....
The US Securities and Exchange Commission (SEC) on Monday made permanent a temporary ban on the so-called 'naked' short selling of stocks. In a normal short sale, a trader borrows and sells a...
Obama administration sends financial system overhaul legislation to Congress
The Obama administration sent Congress draft legislation Wednesday that would put the Federal Reserve in charge of regulating the largest financial firms . The proposed legislation would create an eight-member Financial Services...
The European Commission (EC) on Thursday announced new rules including a number of specific criteria that European banks seeking government assistance must meet. Under the new guidelines, banks are required to show they...
House committee delays consumer financial protection agency legislation
The US House Financial Services Committee on Tuesday delayed action on legislation that would create a consumer financial protection agency, slowing progress on a key Obama administration project. The delay was granted at the...
Finance expert William Brodsky on Friday called for the merger of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) . Brodsky and others testified before the US House of...
Obama proposes broad financial regulations to increase confidence
US President Barack Obama proposed a broad series of financial regulatory reforms Wednesday intended to reestablish stability and confidence in the US financial system. The plan calls for the expansion of Federal Reserve...
