Expanding exemptions for initial margin requirements on swaps transactions “would harm financial stability and U.S. taxpayers,” said the top Democrats on the House and Senate banking panels.
The FBI is looking into whether Italy’s largest bank was also hacked; about 4.5 million people have already inquired about getting a cash settlement with the credit bureau.
Under a proposal yet to be officially unveiled, plaintiffs relying on the so-called “disparate impact” doctrine would have to show a more direct link between a lender’s policy and discriminatory effect.
Barclays will stop providing future financing to companies that manage private prisons and immigration holding facilities, joining other major lenders in shunning the industry.
“It wouldn't be unusual” for the Federal Reserve to work alongside private-sector operators in the creation of a U.S. real-time payments system, its chairman said.
