The Fed should stay out of the bank supervision business

As the Senate begins to focus on how to fix financial regulation, one of the remaining unresolved issues is what role the Federal Reserve should have in supervising banks.

Obama rounds out bipartisan debt commission

President Obama on Friday appointed the remaining members of a bipartisan commission tasked with reining in the nation's soaring debt, choosing a Republican businessman, a union chief, a longtime Democratic budget guru and the former president of advertising giant Young and Rubicam Brands.

Wal-Mart presses vendors in China to meet higher standards

SHENZHEN, CHINA -- Benny Fung, the head of Hong Kong-based soap and cosmetics maker Lutex, seems to have an eye for detail. The meeting room at his factory here in southern China is lined with neatly packed gift baskets. His jacket has a thin purple velvet accent around the lapel to match his pu...

Featured Advertiser

FDIC to test principal reduction for underwater borrowers

The Federal Deposit Insurance Corp. is developing a program to test whether cutting the mortgage balances of distressed borrowers who owe significantly more than their homes are worth is an effective method for saving homeowners from foreclosure.

Lawmakers question GMAC rescue

The federal government went to extraordinary lengths to save the auto financing company GMAC. It was the only bank to get three separate rounds of federal aid -- the most recent in December, even as the broader bailout was winding down -- and it is the only bank in which the government now owns a...

Testing the waters: This year, vacation buyers can afford to be picky

As every beachcomber knows, salvaging treasure can require patience. ¶ Vacation areas around the Washington region have been buffeted by the real estate market collapse and the recession. Going into spring, optimistic market watchers are focusing hard on any glimmers of a revival while bargain...

Be aware of good-faith estimate' rules, or it could cost you

If you are planning to take out a mortgage or refinance, you might want to hear this blunt message from federal officials: Don't fly blind. When you're shopping among competing lenders for the best terms and fees, make sure you know which quotes come with a guarantee and which do not.

Toyota president apologizes under fire of U.S. officials

From the moment the witnesses raised their rights hands and bowed their heads, through the halting mistranslations and the offerings of "konnichiwa" -- good afternoon -- it was clear that the normal rituals of a congressional hearing would be bent, if not broken.

Obama may compromise on consumer agency to pass financial regulation

The Obama administration is no longer insisting on the creation of a stand-alone consumer protection agency as a central element of the plan to remake regulation of the financial system.

Bernanke seeks to preserve Fed's power by compromising with Congress

Federal Reserve Chairman Ben S. Bernanke launched a wide-ranging effort Wednesday to fend off congressional efforts to take powers away from the central bank, laying out a series of compromises and olive branches meant to defuse lawmakers' criticism.

Hoping to prevent stock meltdowns, SEC passes short-selling rules

The Securities and Exchange Commission enacted new restrictions on short selling on Wednesday aimed at restoring investor confidence by preventing speculators from pouncing on stocks already in a tailspin.