Financial Industry | featured news

The Senate this week could hand President Obama his second major legislative victory of the year, both on administration priorities that seemed in doubt not long ago.

President Obama pushed on Saturday for passage of a financial overhaul bill being debated on Capitol Hill, saying it would empower ...

The Senate's top Republican signaled Wednesday that a GOP filibuster of Wall Street reform legislation will end.

Senate Republicans, attacked for twice blocking legislation to rein in Wall Street, floated a partial alternative proposal Tuesday and said it could lead to election-year compromise on an issue that commands strong public support....

Top Republicans appeared nearer to a deal with Democrats on a financial regulation bill, with the ranking senator on the banking committee saying that they were “very close” on the key particulars.

A Senate investigation into the financial crisis has found that Goldman Sachs, the storied Wall Street investment bank, sought to profit from the historic decline in housing prices by betting against the US mortgage market.

President Obama said on Wednesday that the Securities and Exchange Commission never discussed civil fraud charges against Goldman Sachs with the White House before they were publicly announced.

Goldman Sachs said Tuesday its first-quarter earnings almost doubled to $3.3 billion as its trading business again surpassed the rest of the financial industry. A top lawyer for the bank, which is facing civil fraud charges, said Goldman would "never intentionally mislead anyone."

Senate leaders on Tuesday began their sparring over the financial reform bill, setting the tone for what is expected to weeks of debate on lawmakers' next pitched battle.

Citigroup Inc. provided more evidence that the nation's big banks may have turned a corner. The bank reported a surprise first-quarter profit Monday as trading revenue offset losses from failed loans....