Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (01/26/2010)
* WASHINGTON (1/27/10)--President Barack Obama will deliver the State of the Union address tonight, and his speech is expected to be of significant interest to the banking industry, according to financial observers. Obama may use his speech to garner support for his proposed tax on big banks, said Brian Gardner, KBW Inc. analyst. In addition to the tax, Obama last week proposed to ban proprietary trading and curb growth of large financial institutions. Obama also could use his speech to convince the Senate to reappoint Ben Bernanke as Federal Reserve Board chairman, said Chris Whalen, managing director at Lord, Whalen LLC. Bernanke’s nomination is expected to generate one of the closest votes in history for the re-election of a Fed chairman. Camden Fine, president/CEO of the Independent Community Bankers of America, told American Banker (Jan. 26) that he hopes Obama will announce programs to help financial institutions provide credit to small businesses ... * WASHINGTON (1/27/10)--The Treasury Department will spend the next couple weeks drafting legislation that will be shared with lawmakers working on financial reform, according to Neal Wolin, department deputy secretary. The legislation aims to control companies’ growth by restricting financial firms from owning hedge funds and participating in proprietary trading (American Banker Jan. 26). It will attempt to constrain growth by acquisition as opposed to organic growth, Wolin said. Commercial banks that do not accept consumer deposits and are not insured by the Federal Deposit Insurance Corp. are not subject to restrictions, but they will be subject to more aggressive supervision, he added ... * WASHINGTON (1/27/10)--Treasury Secretary Timothy Geithner is scheduled to testify today before a House committee on oversight and government reform as part of an investigation regarding allegations that American International Group (AIG) improperly limited disclosures while it was being bailed out by the government (MarketWatch Jan. 26). Geithner was president of the New York Fed when the bailout took place. The bank has said Geithner was not involved with AIG’s discussions regarding the disclosures. Thomas Baxter, the New York Fed’s general counsel, is also slated to testify ...


RSS





print
News Now LiveWire
Fed. FI regulators' statmnts on compromised credentials/destructive malware #cybersecurity http://t.co/f4uTBDm1PU http://t.co/zP5Iw6VxZc
51 minutes ago
Home prices rising faster than wages: @RealtyTrac #NewsNow #Market http://t.co/wa74mnw3Cu
2 hours ago
.@Nussle dropped by the @ACUMuseum recently. Read about his visit http://t.co/bYe8RRgYLP
3 hours ago
.@PCISSC issues new pen test guidelines for businesses to identify network vulnerabilities @CUinfosecurity http://t.co/ENeGTPSMjf
4 hours ago
#Georgia credit union parity bill awaits signature from @NathanDeal http://t.co/zbS4IZsOp6
4 hours ago