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By Eileen Ambrose, The Baltimore Sun | July 3, 2011
On Capitol Hill, some lawmakers treat Elizabeth Warren as if she were Public Enemy No. 1. That's what happens when you're charged with setting up an agency whose purpose is to protect consumers on financial matters — a job that brings you up against supporters of banking interests. But in Baltimore, where the Harvard law professor spoke at a town hall meeting held by Rep. Elijah E. Cummings last week, she received rock-star treatment. In fact, she was called a "rock star" a few times and received two standing ovations from the overflowing crowd at the Enoch Pratt Free Library auditorium.
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NEWS
By Frederick N. Rasmussen and The Baltimore Sun | September 11, 2014
Robert W. Weinhold Sr., a decorated Army Airborne Ranger in the Vietnam War who later worked for several financial institutions, died Monday at the University of Maryland St. Joseph Medical Center of kidney failure. He was 75. The son of Herman W. Weinhold, a textile millworker, and Mary Alice Weinhold, a homemaker, Robert Winway Weinhold was born and raised in Methuen, Mass., where he graduated in 1956 from Methuen High School. He enrolled at Norwich University in Northfield, Vt., where he was captain and quarterback for the university's football team.
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NEWS
February 1, 2009
President Barack Obama has vowed to reform financial regulations and tighten oversight of banks to prevent a repeat of the financial crisis that has plunged the U.S. economy into deep recession. It's a promise that must be kept because it is vital to re-establishing the trust of the American people in the stability of the financial institutions that provide the lifeblood of commerce. Members of Mr. Obama's economic team are expected to propose stricter federal rules for hedge funds, credit rating agencies and mortgage brokers, and greater oversight of the complex financial instruments that have contributed to the current economic crisis.
NEWS
By Eileen Ambrose, The Baltimore Sun | August 25, 2013
Federal Reserve Chairman Ben Bernanke plans to step down when his term expires at the end of January - if not sooner - and President Barack Obama is expected to nominate a successor this fall. Right now, the front-runners appear to be former Treasury Secretary Lawrence Summers, an economic adviser to the president during his first term; and Fed Vice Chair Janet Yellen, No. 2 at the Fed but without close ties to the president. Some dark horses have emerged. Obama, for example, floated the name of Donald Kohn, Yellen's predecessor at the Fed before his retirement in 2010.
NEWS
January 14, 2009
Like the crew of a ship taking on water in the middle of a fierce storm, President-elect Barack Obama's financial advisers are facing a new threat that could derail or significantly impede their efforts to spark an economic recovery. The "too big to fail" financial institutions stabilized at a cost of hundreds of billions of dollars last fall are facing trouble again, and members of Congress are hesitant about funding possible future rescues. Many lawmakers are angry, and they have a right to be - management of the first bailout has been sketchy and lacked accountability.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | January 7, 1999
WASHINGTON -- With the blessing of the federal government, some of the world's largest financial institutions reached an agreement yesterday to try to set their own industry-wide standards in the huge and volatile market of complex securities known as derivatives.By setting its own voluntary guidelines, the industry hopes to both prevent recurrences of the problems that have arisen in the derivatives markets and keep stricter regulations from being imposed by Washington. But previous attempts at self-regulation in the derivatives markets have met with limited success.
NEWS
April 25, 1992
The Bush administration lightens regulation of financial institutions as it moves toward a decision on whether to extend a 90-day moratorium on government regulations that expires Tuesday.
NEWS
March 4, 1992
A bill in Congress would get rid of the current student loan system and replace it with a system in which colleges and universities would act as lenders and the Internal Revenue Service would collect payments. Banks and other financial institutions stand to lose out on a $4.8 billion operation.The Evening Sun would like to know what you think. Is the college loan program in need of reform? Does the proposal go too far by excluding banks and other financial institutions? To register your opinion, call SUNDIAL at 783-1800 (or 268-7736 in Anne Arundel County)
BUSINESS
By Knight-Ridder News Service | November 25, 1990
WASHINGTON -- The Federal Reserve announced last week that it was weighing new rules that would require financial institutions to hire certified appraisers to review real-estate related transactions worth more than $50,000.Currently, state-chartered banks and other financial institutions must obtain appraisals in cases of real-estate related transactions above $100,000.The Fed said it had set the $100,000 level after much discussion and in response to "concerns about increased costs and burdens imposed on small financial institutions and consumers seeking real estate loans."
NEWS
By LOS ANGELES TIMES | November 11, 2004
WASHINGTON - The government yesterday lowered the terror alert level for five high-visibility financial institutions in Washington, New York and Newark, N.J., citing improved protective measures at the buildings. The institutions affected are the World Bank and the International Monetary Fund, both a few blocks from the White House; the New York Stock Exchange and the Citigroup Center in New York; and the headquarters of Prudential Financial Inc. in Newark. Computer files seized in Pakistan this summer had identified the facilities as being under surveillance by al-Qaida.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | June 17, 2013
Marylanders are big complainers. At least when it comes to the financial services they receive. Maryland ranked No. 2 in the nation in mortgage complaints per capita, second only to New Hampshire, for grievances lodged with the Consumer Financial Protection Bureau. The state came in third for grousing about credit cards and placed fifth for gripes about banks and service. The CFPB's database, launched toward the end of 2011, catalogs thousands of gripes about banking, credit cards and mortgages that the newfound agency has received.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | October 1, 2012
The Consumer Financial Protection Bureau announced Monday that it had ordered three subsidiaries of American Express to refund about $85 million to roughly a quarter-million consumers for violating consumer protection laws. In addition, several federal agencies fined the credit card giant $27.5 million. The CFPB said illegal activity at the American Express subsidiaries was uncovered by the Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions during a regular examination of American Express Centurion Bank.
NEWS
By M.G. Quibria | April 10, 2012
Few people on the street may be familiar with the World Bank. Yet, it plays a critical role in the U.S. effort to engage the world through its contribution to economic development in poor and post-conflict societies. As current World Bank President Robert Zoellick steps down this summer, the bank will soon have a new leader. In the past, as per an unwritten convention, the U.S. — the largest single majority shareholder of the bank — got to select the president. Although the bank at its core is a development institution, it was, surprisingly, never led by a development professional.
NEWS
By Jason Judd | March 12, 2012
If our largest banks are the "one-percenters" of American capitalism, small business is our 99. And, just as our largest corporations are ruling the roost in Washington, so too do they rule in Annapolis. In fact, Maryland's politics have become so lopsided over the last decade that support for Maryland's small businesses has degenerated into a mere talking point - "backbone of our economy," "the engine of economic growth," etc. Here's Exhibit A. In spite of all the talk from big business groups about taxes and regulation in Maryland, the top issue for small businesses is lending.
NEWS
By Andrew L. Yarrow | November 3, 2011
Going to the bank used to be sort of fun. Lollipops for the little ones. The local manager you had known for years. Depositing your paycheck with the same tellers every Friday afternoon. Such patterns provided a rhythm to daily life and also helped to create a sense of virtuous wealth-building. How different it is today. When we think of "bankers" now, we are more likely to think of bean-counting downsizers, who don't know us and never will, receiving gargantuan bonuses each year.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 3, 2011
On Capitol Hill, some lawmakers treat Elizabeth Warren as if she were Public Enemy No. 1. That's what happens when you're charged with setting up an agency whose purpose is to protect consumers on financial matters — a job that brings you up against supporters of banking interests. But in Baltimore, where the Harvard law professor spoke at a town hall meeting held by Rep. Elijah E. Cummings last week, she received rock-star treatment. In fact, she was called a "rock star" a few times and received two standing ovations from the overflowing crowd at the Enoch Pratt Free Library auditorium.
BUSINESS
March 30, 1992
MONDAY, 2 p.m. Senate Economic and Environmental Affairs, Room 200, James dTC Senate Office BuildingHB 274 Collection Agency Licensing -- Fees; HB 961 State Board for Professional Land Surveyors; HB 1413 Home Improvement Contractors -- Liability Insurance; HB 1418 Home Improvement Contractor -- Experience or Education RequirementTUESDAY, 1 p.m. Senate Finance, Presidential Wing, James SOBHB 387 Insurance -- Filing of Underwriting Guidelines -- Termination Date;...
NEWS
By Ron Smith | May 1, 2009
The evidence mounts that the current economic troubles were set in motion because of systemic fraud. I keep thinking about Bernard L. Madoff's comment when F.B.I. agents were about to arrest him. Asked if he could explain what he had done in his Ponzi scheme, he replied, "There is no innocent explanation." Fact is, there is no innocent explanation for the actions of the financial elites and their bought-and-paid-for political lackeys. It's one thing for people like me to speak or write about the crimes that set this collapse in motion, but it's another and far more damaging thing to have well-placed experts in finance point the accusing finger at those responsible for the financial crisis.
BUSINESS
By Jim Puzzanghera and Walter Hamilton and Jim Puzzanghera and Walter Hamilton,Tribune Newspapers | March 27, 2009
The Obama administration is proposing the most far-reaching reforms of the financial industry since the Depression - including measures that would for the first time regulate hedge funds and give government the power to seize and dismantle companies deemed a threat to the economy. The measures, which must be approved by Congress, come in the wake of last fall's near-meltdown of the global banking system and in advance of next week's meeting of the Group of 20 economic powers. The key measures outlined by Treasury Secretary Timothy F. Geithner on Thursday include: * Giving the Federal Reserve or another agency the authority to oversee the entire economy for signs of "systemic risk."
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