Friday, 27 March 2015
Last updated 2 hours ago
Feb 13 2014 | 11:05am ET
A banking industry group has dropped its lawsuit against U.S. regulators after the latter amended part of the Volcker rule barring community banks from holding trust-preferred collateralized debt obligations.
The regulators recently agreed to a narrow exception for the CDOs, and remain in talks with the American Bankers Association, it said yesterday. The group's president, Frank Keating, said it dropped the December litigation "to constructively engage with the regulators without the chilling impediment of pending litigation."
"The interim final rule has allowed many banks to avoid taking hundreds of millions of dollars in unnecessary write-downs and has helped minimize the cost and compliance burden for those that are affected," Keating added.
The Volcker rule is designed to limit bank risk, and, among other provisions, bars banks from proprietary trading and strictly constricts their alternative-investment activities.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…