Headlines

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Format: 11-20-2014
November 20, 2014
Federal Reserve Governor Daniel Tarullo says that new liquidity rules will give regulators just a little time — time they didn’t have during the 2008 meltdown — to assess the financial health of a firm, the Wall Street Journal reported today. Tarullo said that the new rules are necessary because...
November 20, 2014
A federal judge yesterday allowed a lawsuit challenging the constitutionality of Michigan's emergency manager law to move forward on grounds that it might discriminate on the basis of race, Reuters reported yesterday. U.S. District Court Judge George Caram Steeh dismissed other counts in the...
November 20, 2014
Creditors of GT Advanced Technologies complained in a bankruptcy court filing that the sapphire company may have gotten too little in its proposed settlement with Apple Inc. over legal claims stemming from a deal to supply sapphire screens, Reuters reported yesterday. GT Advanced's chief operating...
November 20, 2014
Brookfield Asset Management is dropping its plan to buy Atlantic City's Revel Hotel Casino for $110 million, the Philadelphia Inquirer reported today. The deal fell apart over how much Brookfield would have to pay in fixed costs to the owners of the $129 million utility plant next door that chills...
November 20, 2014
A U.S. judge granted bankruptcy protection to China's Suntech Power Holdings Co. over an objection from the remnants of failed solar panel maker Solyndra LLC, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Stuart M. Bernstein on Monday granted recognition to the company under...
November 20, 2014
A U.S. Senate report on commodity-market activities at big Wall Street banks accuses the firms of being so powerful they were able to influence prices, gain trading advantages and put the broader financial system at risk by entering volatile businesses such as uranium trading and coal production,...
November 20, 2014
A Senate panel on Friday is scheduled to hold a hearing examining whether regulators are beholden to the big banks that they oversee, the New York Times reported today. The Senate Banking Committee's Financial Institutions and Consumer Protection Subcommittee decided to hold the hearing after news...
November 20, 2014
Robert Keach, the bankruptcy trustee in the Montreal, Maine and Atlantic Railway case, is casting a wide net in an effort to reach into deep corporate pockets to create a fund to compensate victims and help pay the enormous costs related to the Lac-Megantic rail disaster in Quebec last year, the...
November 20, 2014
The attorney general of Arizona said yesterday that the state had filed suit against General Motors, claiming that the automaker had defrauded the state’s consumers of an estimated $3 billion, the New York Times reported today. The suit is the first major legal action against GM over its record...
November 20, 2014
The U.S. Court of Appeals for the D.C. Circuit spent several hours yesterday weighing whether corporations and state attorneys general had legal standing to challenge the existence of the federal Consumer Financial Protection Board, the merits of their challenges notwithstanding, the Legal Times...
November 19, 2014
More than two years after San Bernardino filed for bankruptcy, Bankruptcy Judge Meredith Jury yesterday set a deadline for the California city to propose a plan to manage its chapter 9 protection, Reuters reported yesterday. Judge Jury set a May 30 deadline for the city to submit a blueprint to...
November 19, 2014
Lawyers for the U.S. and Wells Fargo & Co. told a judge they doubt they can reach a settlement in a government lawsuit accusing the bank of home-mortgage fraud, Bloomberg News reported today. The U.S. sued San Francisco-based Wells Fargo in 2012, claiming that it made reckless mortgage loans...