National business briefs for May 23 Updated: Tue, May 22, 2012 National business briefs for May 23 Read More

JPMorgan loss renews calls for oversight Updated: Fri, May 11, 2012 The big bank claims that a surprise $2 billion loss by one of its trading groups was the result of a well-intentioned strategy to manage financial risk. Read More

Can new consumer agency control greed in the marketplace? Published: Tue, Aug 2, 2011 You remember the old expression about "locking the barn door after the horse is out"? Well, that's what's happening in Washington this week. After many months of delay, the president is set to name a chief for the Consumer Financial Protection Bureau, just in time to meet the July 21 kickoff planned for the new... Read More

New Gift Card Rules and the Upcoming Holidays Published: Tue, Oct 19, 2010 If you've been following this column for a long time, you know that I am not a fan of gift cards: 1) Most gift cards are good in only one store. 2) That store could go bankrupt, making that gift card useless. 3) It is impossible to spend a gift card to the penny; you either leave a bit on the card to be lost forever... Read More

Ethics panel: Charges filed against Rep. Maxine Waters Published: Mon, Aug 2, 2010 WASHINGTON (AP) — A House investigative panel has charged California Democratic Rep. Maxine Waters with violating ethics rules. Waters, a senior member of the House Financial Services Committee, would face a trial in the fall unless she negotiates a settlement. If the case goes to trial, Democrats would have... Read More

California Rep. Waters may face fall ethics trial Published: Sat, Jul 31, 2010 WASHINGTON (AP) — A second House Democrat, Rep. Maxine Waters of California, could face an ethics trial this fall, further complicating the election outlook for the party as it battles to retain its majority. People familiar with the investigation, who were not authorized to be quoted about charges before they... Read More

Reforms Gone Wild Could Affect Rebound Published: Tue, May 4, 2010 Main Street Americans are justifiably angry at Wall Street because of the revelations that many financial firms may have had an unfair edge in the markets and the economy. Sadly, the results might lead to new regulations that could impact our economy's ability to rebound. Enforcement of existing regulations... Read More

Ignoring Lessons of History Will Cost the U.S. Dearly Published: Wed, Feb 3, 2010 "Those who cannot remember the past are condemned to repeat it." That profound statement was made more than 100 years ago, in 1905, by philosopher George Santayana. It has never been more true than in the financial and economic headlines of today. If you don't learn from history, it could be costly to your... Read More

Why You Should Use Your Gift Cards Soon Published: Tue, Dec 22, 2009 Remember last May, when the president signed the Credit Card Accountability Responsibility and Disclosure Act of 2009? Yes, that one. It's the law that is designed to protect credit card holders but does not fully go into effect until August 2010. It's the one that gave banks a 15-month heads-up, during which... Read More

Why You Can't Afford Credit Card Debt Published: Thu, Nov 19, 2009 Last year, the Federal Reserve Board announced new rules for banks that issue credit cards. The rules will remove unfair credit card practices. Months later, Congress passed into law the new Credit Card Accountability, Responsibility and Disclosure Act of 2009. Both of these become effective in February. That's like... Read More

Hard sell: Detroit links bailout, national defense Published: Wed, Nov 19, 2008 WASHINGTON - In an increasingly anxious campaign for a $25 billion government rescue, Detroit's Big Three car makers and their allies in Washington are warning the demise of the auto industry will damage U.S. national security. That argument is a hard sell. General Motors Corp., Ford Motor Co. and Chrysler LLC... Read More

Battered financial industry faces more oversight Published: Sun, Oct 5, 2008 WASHINGTON -- With the passage of the $700 billion rescue package, the financial industry will face greater congressional scrutiny in coming weeks and months. Further-reaching regulation is almost certain. Previously obscure corners of the industry now subject to few rules, such as complex derivatives and hedge... Read More

Proposed Revamp Taps Fed As Uber Cop Updated: Mon, Mar 31, 2008 WASHINGTON (AP) -- It's a Herculean task: revamping a financial regulatory system dating back to the Civil War to deal with 21st century crises imperiling the country. Under an ambitious Bush administration plan, the Federal Reserve would take on the unwieldy role of uber cop in charge of financial... Read More

Coburn seeks aid oversight Updated: Thu, Sep 15, 2005 WASHINGTON -- Sen. Tom Coburn, saying he wanted to assure Americans that there wouldn't be any "shenanigans" with federal hurricane relief aid for the Gulf Coast, introduced legislation on Wednesday to require strict financial oversight. "We need to make sure the money is going to where it's needed," Coburn, R-... Read More

Home buyer education to begin Updated: Sat, Apr 21, 2001 Q: How can you understand what's in all those home-mortgage documents if you can't understand the language? A: That is being addressed by many of today's mortgage industry leaders. Case in point: Recognizing the growing Latino population, the Mortgage Bankers Association of America recently announced that a... Read More