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Federal Reserve Places Restriction on Future Bank Bailouts

The Federal Reserve has adopted new rules restricting its ability to bail out financially strained banks, complying with provisions in the Dodd–Frank Wall Street Reform and Consumer Protection Act. The new rule limits the Federal Reserve’s emergency lending powers to “broad-based” programs, as opposed to targeted lending to individual banks. Escaping Accountability Norbert Michel, a financial regulatory research fellow with The Heritage Foundation, says the Fed’s self-imposed rules amount to...

Lawmakers Hit Brakes On Proposed Fiduciary Broker Rules

Lawmakers in Congress are fighting with U.S. Department Labor Secretary Thomas Perez and President Barack Obama over proposed new regulations on the investment industry. Congressional Democrats are calling on the Department of Labor (DOL) to open a period for public comment after a final version of the rule is published next year, adding delays to the rule change’s implementation, during the final days of the Obama administration. If DOL’s proposed rule takes effect, investment brokers would be...

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