The banking industry and Republicans have criticized a White House proposal to increase taxes on Wall Street and the wealthy as President Barack Obama steps up efforts to seize the initiative on economic policy. Read more.
State of the Union or 2016 stump speech? That's what Washington's financial regulatory watchers are wondering as they review the tax policy plan President Obama will formally unveil on Tuesday during his State of the Union address. Read more.
Fact Sheet: Compromise To Fix Swaps Push-Out Rule Will Boost U.S. Economy And Improve Financial Stability
Big U.S. banks' ability to borrow at lower rates than smaller competitors has eroded since the 2007-2009 meltdown but could return in a crisis, a U.S. official said, previewing a highly anticipated report on whether banks remain "too big to fail." Read more
…The industry liked much of what it saw in the report, contending that it showed that the overhaul since the crisis, particularly the Dodd-Frank Act of 2010, had done what is was supposed to do: strengthen banks and reduce the likelihood of bailouts. “The G.A.O.’s findings show the impact of the numerous legislative, regulatory and [...]