A House Democrat plans to introduce a bill Wednesday that would toughen anti-money laundering laws by placing an emphasis on penalties for executives and giving a Treasury Department bureau greater enforcement powers. The “Holding Individuals Accountable and Deterring Money Laundering Act” highlights some lawmakers’ dissatisfaction with recent money-laundering penalties and provides a… Read more »

Efforts to fight money laundering and empty shell companies would be strengthened by two bills introduced in the US Congress on Wednesday, by giving federal regulators enhanced powers to hold bank executives personally responsible for misdeeds. The move in the US House of Representatives comes after banks had to pay at least $5bn in fines and settlements to resolve allegations of… Read more »

A third bill will be introduced to the US Congress to tackle the last major remnant of the financial crisis: reform of the mortgage giants Fannie Mae and Freddie Mac. Maxine Waters, the top Democrat on the House Financial Services Committee, is the latest lawmaker to put forward a plan to overhaul Fannie and Freddie. The final version will probably reflect a combination of at least… Read more »

It has been only three years since the passage of the Dodd-Frank Act and five years since the 2008 financial crisis, but memories in Washington can be short. Even though we are still emerging from a foreclosure crisis that has affected tens of millions of American families, some in Congress are already pushing to weaken new rules designed to protect taxpayers and keep consumers safe… Read more »