Reporter

Finance Brief: Wells Fargo Hit With $1 Billion Fine

By Ryan Rainey Top Stories The Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency are expected to announce a settlement with Wells Fargo & Co. that involves a fine of as much as $1 billion, according to unnamed sources familiar with the talks. The settlement, which is said to deal […]

Proponents of Labor Department’s Fiduciary Rule Split on SEC’s Efforts

Finance Brief: SEC Proposes Rewrite of Obama-Era Broker Conflict Rules

By Ryan Rainey Top Stories The Securities and Exchange Commission voted to propose a new rule setting out conduct and disclosure requirements aimed at making brokers act in their clients’ best interests. The proposed regulation, which comes in the shadow of the Trump administration’s rollback of the Labor Department’s fiduciary rule, would require brokers to […]

Finance Brief: IRS Gives Taxpayers Extra Day to File After Payment Site Crashes

By Ryan Rainey Top Stories The Internal Revenue Service said it will give taxpayers an extra day to file their returns and pay balances after parts of the agency’s online filing system crashed. The IRS page that allows taxpayers to make direct payments is now back online, and the new filing deadline is the end […]

Finance Brief: Quarles Suggests Fed Could Take ‘Further Measures’ to Ease Certain Post-Crisis Rules

By Ryan Rainey Top Stories Federal Reserve Vice Chairman for Supervision Randal Quarles suggested in prepared testimony for his congressional hearings this week that the Fed could take “further measures” that supplement Congress’ efforts to ease regulations for banks. Revising the living wills timeline for banks and liquidity rules for small and regional institutions are […]

Conservatives Lay Out Concerns About Supreme Court’s Internet Sales Tax Case

Finance Brief: SEC Reportedly Investigating Guggenheim Partners’ Asset-Management Unit

By Ryan Rainey Top Stories The Securities and Exchange Commission launched an investigation into the asset-management unit at Guggenheim Partners LLC, according to three unnamed sources familiar with the probe, and the agency is focusing on deals the firm has made with ABS Capital Co. LLC, which is owned by former Guggenheim employees. The investigation is […]

Finance Brief: Week in Review & What’s Ahead

By Ryan Rainey Week in Review Executive branch President Donald Trump signaled a willingness to re-enter talks for the Trans-Pacific Partnership, a move that could play into his administration’s broader attempt to be more economically competitive with China, which is not a TPP member. Leading trade officials in Australia, Japan and New Zealand — all […]

Finance Brief: OMB Gains New Authority to Review Tax Rules Crafted by Treasury Department

By Ryan Rainey Top Stories The Office of Management and Budget and the Treasury Department reached an agreement that will give OMB the authority to conduct reviews of rules the Treasury Department crafts for implementation of the tax law enacted in December. The Treasury Department will not be permitted to publish rules until OMB concludes […]