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Results: 1-10 of 19

Senator Nelson confirms support for financial reform legislation; Senate Democrats expected to overcome any potential Republican filibuster

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 13 2010

Today, Senator Ben Nelson (D-NE) confirmed that he will "vote for" the Dodd-Frank Wall Street Reform and Consumer Protection Act conference report, recently passed by the House before the July 4th recess, alleviating concerns that Senate Democrats might not have the 60 votes needed to overcome a Republican filibuster of the legislation

Senator Scott Brown declares opposition to $19 billion "bank tax"; House-Senate conference may reconvene

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 29 2010

Today, Senator Scott Brown (R-MA), one of the few Republicans to vote for passage of the financial reform bill, sent a letter to Senate Banking Committee Chairman Christopher Dodd (D-CT) and House Financial Services Committee Chairman Barney Frank (D-MA) declaring his opposition to the roughly $19 billion "bank tax" on large banks and hedge funds that is included in the recently reconciled Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act

Federal government and SEC charge former chairman of major mortgage lender with multiple counts of fraud and related TARP scheme

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 16 2010

Today, members of the Financial Fraud Enforcement Task Force announced a 16-count indictment for Lee Bentley Farkas (Farkas), the former chairman of a private mortgage lending company, Taylor, Bean & Whitaker (TBW), for "his alleged role in a more than $1.9 billion fraud scheme that contributed to the failure of Colonial Bank, one of the 50 largest banks in the United States in 2009, and TBW, one of the largest privately held mortgage lending companies in the United States" in 2009

House-Senate Conference Committee begins negotiations on financial regulatory reform legislation

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 15 2010

Today, the House-Senate Conference Committee (Conference Committee) met for its first day of negotiations on the Restoring American Financial Stability Act of 2010, focusing on the following Titles of the Senate base text

House Republican Leader Boehner requests live coverage of Financial Regulatory Reform Conference

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 23 2010

Following Senate approval of the Restoring American Financial Stability Act of 2010 this past Thursday, House Republican Leader John Boehner (R-OH) sent a letter to Speaker of the House Nancy Pelosi (D-CA) stressing the importance of an "open and fully bipartisan conference committee" to resolve differences between the Senate and House bills

Financial reform legislation: amendments to S. 3217 during the week of May 10

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 21 2010

Yesterday evening, the Senate passed its bill on financial reform, S. 3217, the “Restoring American Financial Stability Act of 2010.”

Republicans circulate substitute summary of Financial Regulatory Reform Bill; cloture motion on Senate bill fails for third time

  • Alston & Bird LLP
  • -
  • USA
  • -
  • April 28 2010

Yesterday, Senate Republicans circulated a brief summary of the Financial Regulatory Improvement and Taxpayer Protection Act, a Republican substitute to the Restoring American Financial Stability Act of 2010 (S.3217) previously passed by the Senate Banking Committee along party lines, and which has failed to reach the Senate floor for debate following three failed cloture motions by Senate Majority Leader Harry Reid (D-NV), including today's 56-42 rejection of the motion

Financial reform legislation clears Senate Banking Committee

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 23 2010

Yesterday afternoon, the Senate Banking, Housing and Urban Affairs Committee sent financial reform legislation to the full Senate by approving the manager's amendment to the bill proposed by Senator Dodd last week

European Parliament contemplates global financial institution tax

  • Alston & Bird LLP
  • -
  • European Union, USA
  • -
  • February 23 2010

Today, the European Parliament Economic Affairs Committee issued a press release stating that "a globally implemented tax to discourage excessive risk-taking by financial institutions and to ensure the industry pays for the damage caused by the financial crisis should be considered."

Federal Reserve Bank of New York creates new group to oversee investments

  • Alston & Bird LLP
  • -
  • USA
  • -
  • January 22 2010

Yesterday, the Federal Reserve Bank of New York announced the formation of a new Special Investments Management Group to assist with overseeing the FRBNY's governance and risk management "in light of the tremendous expansion of the Bank's balance sheet over the past eighteen months."