Bernanke Says “Grave Mistake” to Strip Fed of Supervisory Authorities

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Feb. 25, 2010. Stripping the Federal Reserve Board of its supervisory authorities, in light of the recent financial crisis, would be a “grave mistake,” Fed Chairman Ben Bernanke told the Senate Banking Committee Feb. 25, 2010. In the second day […]

CRE Loans Probably “Biggest Threat” to Smaller Banks: Bernanke

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Feb. 24, 2010. Commercial real estate (CRE) loans are probably the “biggest threat” to smaller and regional banks at this time, Federal Reserve Board Chairman Ben Bernanke told Congress February 24, 2010. Appearing before the House Financial Services Committee, Bernanke […]

White House Continues Push for Standalone Consumer Protection Agency

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Feb. 23, 2010. The White House continued to make its case for a separate consumer financial protection agency February 23, as the proposed agency proves to be a major stumbling block in efforts to enact financial regulatory reform. Senate Banking […]

FinCEN Expands Special Information Sharing Procedures

By J. Preston Carter, J.D., LL.M., Editor, Financial Privacy Law Guide, CCH Federal Banking Law Reporter, State Banking Law Reporter and Bank Digest, Feb. 18, 2010. The Financial Crimes Enforcement Network has amended the Bank Secrecy Act information sharing rules to allow certain foreign, state and local law enforcement agencies to submit requests for information […]

President Set to Create Bipartisan Fiscal Commission

By Paula Cruickshank, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Feb. 18, 2010. President Obama on February 18 will sign an executive order to create a bipartisan commission on deficit reduction.  The president has selected former Wyoming Republican Senator Alan Simpson and Erskine Bowles, former White House Chief of Staff […]

Corker Says Standalone Consumer Protection Agency a “Nonstarter”

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Feb. 16, 2010. A standalone financial consumer protection agency is a “nonstarter,” according to Sen. Bob Corker, R-Tenn., tapped by Senate Banking Committee Chairman Chris Dodd, D-Conn., to lead negotiations on the Republican side. Corker said February 12 that consumer […]

IP and Computer Law – February 2010

From the editors of Wolters Kluwer Law & Business, this update describes important developments from CCH and Aspen Publishers intellectual property and computer law publications. If you have any comments or suggestions concerning the information provided or the format used, we’d like to hear from you. Please send your comments to john.arden@wolterskluwer.com. COPYRIGHTS File Sharing […]

Dodd Turns to Corker after Reaching Impasse with Shelby

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Feb. 11, 2010. Senate Banking Committee Chairman Chris Dodd, D-Conn., said February 11 that he will work with committee member Sen. Bob Corker, R-Tenn., to negotiate an overhaul of financial regulation. The statement follows Dodd’s previous announcement that he and […]

European Parliament Rejects SWIFT Interim Agreement

By J. Preston Carter, J.D., LL.M., Editor, CCH Federal Banking Law Reporter, Financial Privacy Law Guide, State Banking Law Reporter and Bank Digest, Feb. 11, 2010. The European Parliament, on Feb. 10, 2010, voted 378-196 to reject the interim agreement between the European Union and the United States on the processing and transfer of Financial […]

Industry Groups Ask Supreme Court to Overturn Ruling That IRS Can Obtain Tax Work Papers Done for Financial Statements

Financial industry groups have asked the U.S. Supreme Court to review a First Circuit Court of Appeals ruling that tax accrual work papers are discoverable by the IRS since they are done for SEC-mandated financial statements and not litigation. The groups have filed amicus briefs with the Court generally arguing that letting the decision stand […]