WASHINGTON — Like a hard-fought draw in a World Cup soccer match, consumers won sweeping new protections under a revamp of financial regulation that lawmakers agreed to Friday but large banks dodged the biggest hits that had been coming their way.The sweeping regulatory revamp affects everything from credit cards and mortgages to the structure of large global banks and who regulates the fin
WASHINGTON — The revamp of financial regulation that was agreed to Friday and is going to a vote in both houses of Congress next week addresses head-on much of what brought about the financial crisis: — Mortgage and predatory lending.Numerous federal regulators lose consumer protection powers to a new Bureau of Consumer Financial Protection , which has the consumer as its sole focus.
Arizona Sen.John McCain has opened a big lead over his GOP primary opponent, former Rep.J.D.Hayworth.A new Magellan Strategies poll of likely Republican voters in the state finds McCain leading Hayworth by 23 points, 52 percent to 29 percent.While McCain has led Hayworth in the polls for months, this is the senator's biggest lead in the race.McCain led Hayworth by just 12 points last month —
David Brooks occupies a lofty perch on the op-ed page of the New York Times, one that permits the columnist to get inside the corridors of Washington power.He's got enough pull in the White House to reference President Obama as a senior background source.Brooks wrote Friday about how the most interesting part of my job is [getting] to observe powerful people at close quarters. There, he's heard
Washington Post blogger David Weigel resigned from the newspaper Friday, after the publication of emails that included harsh criticism of right-wing media personalities and some elements of the conservative movement. Dave offered his resignation and we accepted it, a Post spokeswoman told Yahoo! News.Weigel, a prolific reporter and blogger, covered the conservative movement for seve
The House and Senate hope to send a landmark financial regulatory overhaul to President Obama by the end of next week, after finalizing the legislation in a bruising 20-hour marathon conference early Friday that hinged on a compromise over derivatives trades by banks. The House is expected to take up the conference report on Tuesday or Wednesday and the Senate is expected to follow suit on Wednes
WASHINGTON – The Obama administration is telling North Korea not to link the case of a detained American with efforts to censure the communist nation for the sinking of a South Korean warship.The State Department said Thursday that North Korea should separate political rhetoric from this matter concerning a private American citizen. The call came after North Korea, citing hostile U.S poli
WASHINGTON – Congressional negotiators struck a deal Friday on the toughest financial regulations since the Great Depression, aiming to rein in Wall Street excess and tighten rules on everything from simple debit card swipes to the most complex securities.House and Senate bargainers approved the deal after an all-night meeting, giving President Barack Obama a fresh campaign-season triumph a