Fed proposes expanding capital reviews to 35 banks
US Legal News
The Federal Reserve wants a broader group of banks to provide details each year about their finances, part of an effort to ensure banks can meet their capital requirements and avoid another financial crisis.
The Fed currently requires the nation's 19 largest banks to submit capital plans annually. The proposal unveiled Friday would expand the list to the 35 largest banks by requiring firms with assets of $50 billion or more to submit annual plans.
Capital is the amount of reserves that a bank holds as a cushion against losses. If the Fed determines a bank doesn't have adequate capital, it can order it to stop paying dividends to stockholders. The central bank is taking comments on the proposal through August and has plans to implement it by January.
The financial overhaul law passed last year directed federal regulators to do a better job monitoring the level of capital that banks keep on hand. Banks have been fighting many of the more stringent controls being imposed under last year's legislation. They contend the tighter rules are not necessary and will restrict their ability to make loans.
Related listings
-
Lawyer: Baseline Killer suspect a 'ravenous wolf'
US Legal News 06/07/2011Graphic images of dead people flashed across courtroom televisions as the victims' families looked on, weeping and consoling one another. Some had to leave to collect themselves. For the first time since the nine victims were killed in 2005 and 2006,...
-
Senate confirms Obama lawyer as solicitor general
US Legal News 06/07/2011The Senate has confirmed White House lawyer Donald Verrilli Jr. to succeed Justice Elena Kagan as U.S. solicitor general. With the 72-16 vote, Verrilli will fill a post that has been vacant since the Senate voted Kagan to her Supreme Court seat last ...
-
NJ mom accused of starving child pleads not guilty
US Legal News 06/02/2011Two women pleaded not guilty Wednesday to charges of child endangerment a week after an 8-year-old was found dead in their apartment from severe malnutrition and an untreated broken leg and her injured and emaciated siblings were removed alive. The c...
Is Now the Time to Really Call a Special Education Lawyer?
IDEA, FAPE, CHILD FIND and IEPs: The Individuals with Disabilities Education Act (IDEA) guarantees all children with disabilities to a free appropriate public education (FAPE). FAPE starts with a school’s responsibility to identify that a child has a disability (Child Find) and create an Individualized Education Program (IEP) to suit the needs of the child. Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer.” Here are a few things to consider when asking yourself that question.