...Rob Nichols, president of the Financial Services Forum, a trade group representing CEOs of the largest financial firms, said any subsidy results mostly from investors’ preference for stability, diversity and liquidity of the large banks. “The [...]
Washington Examiner: Here’s what the much-anticipated GAO report on whether banks are ‘too big to fail’ found
Nevertheless, the GAO’s conclusions were welcomed by financial industry associations that have maintained that large banks do not enjoy an advantage from potential bailouts. “The GAO’s findings show the impact of the numerous legislative, regulatory [...]
…Some finance industry executives were confident that the industry had made substantial progress in cutting risk and improving standards in the six years since the financial crisis. "We have gone very far to put 'too [...]
Christine Lagarde, the managing director of the International Monetary Fund, has warned that “a fierce industry pushback” by the financial sector is delaying much-needed reforms and risks destabilising the global economy. Read More...
Financial trade groups are pushing back against a growing call to bar banks from actually owning physical commodities. Five of the nation’s biggest financial groups sent a joint letter to the Federal Reserve Wednesday, defending the [...]
By Cheyenne Hopkins and Craig Torres The largest U.S. banks, including JPMorgan Chase & Co. and Citigroup Inc., have been able to borrow more cheaply in bond markets than smaller rivals, in part because of [...]
By Ryan Tracy WASHINGTON—A senior House Republican is seeking to raise the tax bills of the largest U.S. financial firms as part of a broad proposal to overhaul the tax code, lending momentum to an [...]
By Victoria Finkle WASHINGTON — Congress is unlikely to pass a big bank tax into law this year, but House Republicans' surprising embrace of the idea suggests it is likely to return later to haunt [...]
By James Politi The top US Republican tax-writer on Wednesday unveiled a far-reaching plan to boost the world’s largest economy through an overhaul of the country’s tax code that lowers rates and slashes popular tax [...]
By Richard Rubin The top Republican tax-writer in Congress proposed restructuring the U.S. tax code to eliminate dozens of breaks to pay for reductions in the corporate and individual rates. Read more...