Financial Industry, Regulation | featured news

...The boom in resource markets that started 10 years ago attracted many big banks to trade oil, metals and agriculture, but the 2008 financial crisis forced a painful retreat and tighter regulation now means some banks may throw in the towel.

Lawmakers were locked in an impasse over derivatives on Thursday as they struggled to finish their historic rewrite of U.S. financial regulations.

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....

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.

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.

Sen. Christopher J. Dodd indicated that Democrats would forge ahead with their own bill, following months of talks that had been aimed at reaching a bipartisan consensus.

The world's top bankers are at odds about how to fight back against a global push for tougher financial regulation, with commercial and investment banks struggling to reach agreement.

The Fed should be in charge of regulating financial institutions, but a council of regulators could monitor broader risks, the Fed chairman said.

Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke squared off Friday in a public dispute on who should become the nation’s top consumer watchdog.

The Obama administration's proposal to overhaul financial regulations, aimed in part at restoring global confidence in America's economic system, triggered a welcome but largely wait-and-see response from overseas investors and analysts.