Financial Industry | featured news

The U.S. is destined to endure a new economic crisis that sticks taxpayers with the bill unless Congress tightens oversight of ...

President Obama's top economic adviser said Sunday he believes Congress will pass new oversight rules for the financial industry. Lawrence Summers also said putting even more Americans back to work is a White House "preoccupation."

The Treasury Department said Monday it will begin selling the stake it owns in Citigroup Inc., which could result in a profit to the government of about $7.5 billion. Government received 7.7B shares in exchange for $25B it gave the banking firm during credit crisis.

Four U.S. banks were seized Friday by state regulators, two in Georgia, one in Florida and one in Arizona, bringing the total number of bank failures to 41 in 2010.

Investors need to keep tabs on brokers and money managers.

House lawmakers hold their first hearing about how to restructure the mortgage system.

President Obama’s proposal for a direct tax on banks to pay for future bailouts is gaining momentum in Europe.

Several much-anticipated details of Sen. Chris Dodd's (D - Conn.) financial reform bill have been revealed, The New York Times and the Wall Street Journal report this morning.

An overwhelming majority of Americans wants Wall Street subjected to tougher regulation in the aftermath of the bank bailout and the bonus scandals that have rocked the U.S. financial sector, according to a Harris poll released on Thursday.

Wall Street paid out $20.3 billion in bonuses in 2009, up 17 percent from a year earlier, New York State's comptroller said, as the financial industry recovered fitfully from a near meltdown.