U.S. Government

  • 2015-03-25 19:08


    --House Approves Modified GOP Budget on Party Line Vote
    --Senate to Vote on Dozens of Budget Amendments Thursday

    WASHINGTON (MNI) - After mowing down five alternatives, the House Wednesday passed a modified Republican budget that purports to balance the federal budget within in a decade by securing about $5.5 trillion in 10-year spending savings.

    The House approved the Republican budget plan on a 228 to 199, party-line vote.

    This was the plan that was approved by the House Budget Committee last week, but only after modifying it by increasing FY 2016 defense spending by $2 billion.

  • 2015-03-25 17:55


    WASHINGTON (MNI) - The following is a Treasury Department announcement published late Wednesday:

    U.S. TREASURY SECRETARY LEW TO TRAVEL TO CHINA, MARCH 28-31, 2015

    Trip to Advance Ongoing U.S.-China Discussions and Prepare for the Upcoming Strategic and Economic Dialogue

    WASHINGTON - The U.S. Department of the Treasury today announced that Secretary Jacob J. Lew will travel to Beijing, China next week to hold discussions with senior Chinese officials on the U.S., Chinese, and global economies.

  • 2015-03-25 17:21


    WASHINGTON (MNI) - The following is the text of a statement released Wednesday evening by a bipartisan group of U.S. Senators offering an amendment to the FY2016 budget resolution that would require congressional approval for any sale of the Treasury's preferred shares in Fannie Mae and Freddie Mac:

    In an effort to spur substantive and structural housing finance reform, U.S. Senators Bob Corker (R-Tenn.) and Mark Warner (D-Va.), members of the Senate Banking Committee, today offered a component of the Jumpstart GSE Reform Act as an amendment to S.Con.Res.11, the fiscal year 2016 budget resolution.

  • 2015-03-25 16:48


    --Updating 14:00 ET Story; Committee Q&A, Second Panel Testimony

    WASHINGTON (MNI) - Facing enemies of Dodd Frank in both the Senate and the House, Treasury Secretary Jack Lew Wednesday pledged to protect Wall Street reform and, in particular, the Financial Stability Oversight Council of regulators.

    "No law is perfect," Lew told the Senate Banking Committee in prepared testimony.

  • 2015-03-25 14:52


    --Congress To Employ Peculiar Procedures for Budget Votes
    --House To Vote Wed On Six FY 2016 Budget Resolutions
    --Senate To Vote On Dozens of Budget Amendments Thurs

    WASHINGTON (MNI) - In a perfect world, Congress would deal with its budget in a careful, organized, and efficient way.

    But of the many things the U.S.

  • 2015-03-25 14:29


    --OKs FINRA Registration Rule Comment Period for HFT

    WASHINGTON (MNI) - Wary Republicans joined the Democratic majority on the Securities and Exchange Commission Wednesday to begin in a small way the oversight of the secret sauce of high speed trading, proposing the forced FINRA membership and so the beginnings of oversight of anyone who composes the algorithms that execute proprietary trading strategies.

    The SEC proposal follows the industry's regulator, FINRA, by a week, in its own request for comments on a requirement that the people behind the algorithms identify themselves so if something goes wrong, they can be quickly asked to explain.

  • 2015-03-25 14:00


    By Denny Gulino

    WASHINGTON (MNI) - Facing enemies of Dodd Frank in both the Senate and the House, Treasury Secretary Jack Lew Wednesday pledged to protect Wall Street reform and, in particular, the Financial Stability Oversight Council of regulators.

    "No law is perfect," Lew told the Senate Banking Committee in prepared testimony.

  • 2015-03-25 10:14


    --House To Vote On Six FY 2016 Budget Resolutions
    --House Expected To Clear Budget Panel Plan W/Defense Add On

    WASHINGTON (MNI) - The House will vote Wednesday on six fiscal year 2016 budget resolution alternatives, including the plan approved by the House Budget Committee last week and another one which is identical to the Budget Committee plan except that it increases FY 2016 defense spending by $2 billion.

  • 2015-03-25 09:30


    --FHFA Has Switched Emphasis to Maintaining Access to Mtg Credit

    WASHINGTON (MNI) - The Office of Inspector General for the federal regulator of Fannie Mae and Freddie Mac has taken another look Wednesday at the future of U.S.

  • 2015-03-24 17:40


    By Denny Gulino

    WASHINGTON (MNI) - Three years after its passage as a new streamlined route for entrepreneurs to raise capital, the rules necessary to make the JOBS Act work may be finished this year, SEC Chair Mary Jo White told the House Financial Services Committee Tuesday, though whether it will be by October seemed to still be in question.

    Although some experts have questioned whether the law will do enough to protect investors as they participate in so-called crowd-funding exercises to funnel money to fresh untested businesses, a sizable number of congressional backers have been frustrated that it's taking so long to get started.

    One of the several committee members who took the opportunity to express that frustration was Arizona Republican David Schweikert, one of