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Banking & Finance

The latest coverage of the banking and financial sectors.

Rep. Paul Broun. (Associated Press) ** FILE **

House approves Ron Paul's 'Audit the Fed' bill

By Stephen Dinan - The Washington Times

Former Rep. Ron Paul's push to audit the Federal Reserve got another boost Wednesday when the House passed the bill for the second time in three years, and by a bigger margin than before. Published September 17, 2014

Recent Stories

Alibaba poised to surge on the NYSE

- Associated Press

Alibaba's stock is surging as the Chinese e-commerce powerhouse begins its first day trading as a public company.

Yahoo rakes in another jackpot from Alibaba's IPO

- Associated Press

Yahoo is making amends for years of blundering with one smart move: an early investment in Alibaba Group that has turned into a multibillion-dollar boon.

Attorney Karen Wagner, representing Citibank in the ongoing Argentine debt issues, refuses to answer questions from reporters while leaving a courthouse in New York, Wednesday, Sept. 10, 2014.  (AP Photo/Seth Wenig)

Federal appeals judge: Argentina's bullying a bank

Associated Press

Judges on a federal appeals panel in New York say they suspect Argentina has gone rogue, ignoring court orders and bullying a U.S. bank to try to prevent it from obeying a court order.

Federal Reserve Chair Janet Yellen arrives for a Board of Governors meeting at the Federal Reserve in Washington, Wednesday, Sept. 3, 2014. The meeting is to discuss a final rulemaking to implement a quantitative liquidity requirement in the United States as well as a proposed rule on margin requirements for non-cleared swaps of prudentially regulated swap entities. (AP Photo/Susan Walsh)

Fed cuts back bond-buying again as economy strengthens

- The Washington Times

The Federal Reserve moved another step toward more normal policies on interest rates Wednesday, noting a gradual improvement in the outlook for the economy and cutting back again on its bond-buying program to stimulate the economy.

** FILE ** The Securities and Exchange Commission (SEC) headquarters in Washington. (AP Photo/File)

SEC obtains order freezing assets in alleged scam

Associated Press

The Securities and Exchange Commission has obtained a court order freezing the assets of an alleged South Florida fraud scheme operated out of the Turks and Caicos Islands.

New rules established for NY debt collection cases

- Associated Press

New York court administrators have adopted new filing requirements for debt collectors meant to prevent unfair claims and defaults in credit card collection cases against consumers.

New York Attorney General Andrew Cuomo reportedly has been quietly laying the groundwork for a gubernatorial campaign, but not necessarily in 2010. (Bloomberg News)Andrew Cuomo, attorney general for New York state, center, Benjamin Lawsky, assistant U.S. attorney, left, and Eric Corngold, deputy attorney general for Economic Justice, hold a news conference on Wall Street in New York, U.S., on Wednesday, Oct. 15, 2008. Cuomo demanded that American International Group Inc.'s board stop "unwarranted and outrageous expenditures" and recover any past ones that were "unreasonable." Photographer: Jin Lee/Bloomberg News

NY probes short-term, high-interest secured loans

Associated Press

New York regulators have begun investigating short-term, high-interest loans secured by borrowers' homes or other real estate to determine if they violate state laws against predatory lending.

Virginia Attorney General Mark Herring leaves Federal Court after a hearing on Virginia's ban on gay marriage in Norfolk, Va., Tuesday, Feb. 4, 2014.  Herring the state's newly elected Democratic attorney general has already decided to side with the plaintiffs and will not defend the ban.  (AP Photo/Steve Helber)

Va. attorney general sues major banks for $1.1B

- Associated Press

Virginia Attorney General Mark Herring is suing some of the world's largest banks for $1.15 billion in damages related to the housing market crash.

Analysts say the latest round of sanctions announced tightens the noose around Russia's energy sector, making it particularly hard to invest in long-term projects to tap into new sources of oil and gas. Such sanctions might tempt Moscow to halt the flow of gas and oil, particularly the large share of gas exported through the Gazprom pipeline that crosses through Ukraine. (Associated Press)

Russia sanctions risk lasting damage to Europe's shaky economy

- The Washington Times

The tit-for-tat sanctions between Russia and the West that heated up last week are only adding to fears that Europe's economy will fall back into recession or experience "lost decades" comparable to the downturn in Japan that left the Asian giant's economy drifting, deflated and diminished in global influence.

Russian President Vladimir Putin visits the Lifegiving Trinity Church in Moscow, Russia, Wednesday, Sept. 10, 2014. President Vladimir Putin said Wednesday that Russia will develop an array of new nuclear and conventional weapons to counter recent moves by the U.S. and NATO. (AP Photo/RIA-Novosti, Alexei Druzhinin, Presidential Press Service)

Obama slaps Putin with more sanctions

- The Washington Times

The Obama administration slapped more sanctions Friday against the Russian financial, energy and defense industries as punishment for Moscow's continued military aggression in eastern Ukraine.

Russian President Vladimir Putin, right, speaks during his meeting with Chinese President Xi Jinping, in Dushanbe, Tajikistan, as Russian Foreign Minister, Sergey Lavrov listens Thursday, Sept. 11, 2014. Putin takes part in the two-day summit of the Shanghai Cooperation Organization, which brings together Russia, China and four former Soviet republics in Central Asia. (AP Photo/RIA Novosti, Mikhail Klementyev, Presidential Press Service)

EU sanctions hit Russian oil companies, lawmakers

- Associated Press

New European Union sanctions against Russia announced Friday toughen financial penalties on the country's banks, arms makers and its biggest oil company, to punish Moscow for what the West sees as efforts to destabilize Ukraine.

Recent Opinion Columns

Illustration on selling Freddie Mac and Fannie Mae by Alexander Hunter/The Washington Times

Sell Fannie and Freddie, don't kill them

It's time for the U.S. government to sell its ownership stake in Fannie Mae and Freddie Mac, the two giant mortgage funders, and let them sink or swim by themselves.