Latest news with #DoddFrank
Globe and Mail
21 hours ago
- Business
- Globe and Mail
Freddie Mac Discloses Dodd-Frank Act Stress Test Results
MCLEAN, Va., Aug. 15, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today posted the results of its 2024 and 2025 stress tests for the severely adverse scenario conducted under U.S. Federal Housing's implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The results are available at Freddie Mac's mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube MEDIA CONTACT: Fred Solomon 703-903-3861 Frederick_Solomon@ 571-382-3630
Yahoo
a day ago
- Business
- Yahoo
Freddie Mac Discloses Dodd-Frank Act Stress Test Results
MCLEAN, Va., Aug. 15, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today posted the results of its 2024 and 2025 stress tests for the severely adverse scenario conducted under U.S. Federal Housing's implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The results are available at Freddie Mac's mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube MEDIA CONTACT: Fred Solomon703-903-3861Frederick_Solomon@ INVESTOR CONTACT: Mahesh Lal571-382-3630Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Globe and Mail
01-07-2025
- Business
- Globe and Mail
JPMorganChase Announces 2025 Dodd-Frank Act Stress Test Results
JPMorgan Chase & Co. (NYSE: JPM) ('JPMorganChase' or the 'Firm') announced today that it has released the results of its company-run 2025 Dodd-Frank Act Stress Test for JPMorganChase and JPMorgan Chase Bank, National Association. Information can be found on the Firm's website at under Investor Relations, Events & Presentations. JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ('U.S.'), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $351 billion in stockholders' equity as of March 31, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at
Yahoo
21-06-2025
- Business
- Yahoo
Senate parliamentarian knocks pieces out of Trump's megabill
Senate Parliamentarian Elizabeth MacDonough has ruled that several key pieces of the massive bill to implement President Trump's agenda run afoul of the Byrd Rule and must be taken out of the package to allow it to pass with a simple majority vote on a special procedural fast track. The parliamentarian ruled against several provisions under the jurisdictions of the Senate committees on Banking, Environment and Public Works, and Armed Services. These included a provision that would have placed a funding cap on the Consumer Financial Protection Bureau (CFPB), which would have cut $6.4 billion from the agency by reducing its maximum funding to zero percent of the Federal Reserve's operating expenses. The funding cut would have eliminated the agency. The creation of the CFPB was one of the central reforms of the Dodd-Frank Act that Democrats passed in the wake of the 2008 financial crisis. She also ruled against language cutting $1.4 billion in costs by reducing the pay of Federal Reserve staff, cutting $293 million by reducing the Office of Financial Research funding and cutting $771 million by eliminating the Public Company Accounting Oversight Board. Sen. Jeff Merkley (Ore.), the ranking Democrat on the Senate Budget Committee, touted the parliamentary rulings. 'The Senate Parliamentarian advised that certain provisions in the Republicans' One Big, Beautiful Betrayal will be subject to the Byrd Rule – ultimately meaning they will need to be stripped from the bill to ensure it complies with the rules of reconciliation,' Merkley said. 'As much as Senate Republicans would prefer to throw out the rule book and advance their families lose and billionaires win agenda, there are rules that must be followed and Democrats are making sure those rules are enforced,' he added. Senate Republicans will need to remove the provisions from the bill or otherwise would have to muster 60 voters to overcome a point of order against the bill. Senate Republicans hold a 53-47 seat majority. Senate Majority Leader John Thune (R-S.D.) could opt to override the parliamentarian's ruling with a simple majority vote on the floor, establishing a new Senate precedent, but he has indicated he does not plan to do that. The parliamentarian ruled several sections of the bill under the jurisdiction of the Environment and Public Works Committee also violated the Byrd Rule. She ruled against the repeal of funding authorizations in the Inflation Reduction Act and the repeal of the Environmental Protection Agency's multipollutant emissions standards for light-duty and medium-duty vehicles for model years 2027 and later. She also ruled against a provision under the Armed Services panel's jurisdiction that would reduce appropriations to the Department of Defense if spending plans are not submitted on time. Sen. Elizabeth Warren (D-Mass.), the ranking member on the Senate Banking Committee, applauded the parliamentarian's rulings on the issues under her committee's jurisdiction. 'These proposals are a reckless, dangerous attack on consumers and would lead to more Americans being tricked and trapped by giant financial institutions and put the stability of our entire financial system at risk,' she said. 'Democrats fought back, and we will keep fighting back against this ugly bill,' she said. Warren's Banking staff submitted in-depth written briefs to the parliamentarian in advance of her ruling. Warren's staff and Senate Banking Committee Chair Tim Scott's (R-S.C.) staff also presented oral arguments to the parliamentarian during a June 16 meeting that lasted for 90 minutes. Updated at 12:55 p.m. EDT Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Forbes
13-06-2025
- Business
- Forbes
Legislation That Cuts Your Credit Card Miles And Points Inches Closer
Your airline miles and points earning could be at risk. getty Are your credit card miles and points at risk? They could be if the ongoing battle for credit card legislation, initiated by the Durbin-Marshall amendment (Senators Roger Marshall and Dick Durbin), passes in Congress. Bipartisan negotiations continue, but a final vote is inching closer. The amendment, part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, would reduce the cost charged to merchants that accept credit cards. It says that businesses pay more than $100 million in swipe fees annually. But, opponents to the change say it would wipe out the miles, points and perks that consumers enjoy from their credit cards. Credit card payment is now the preferred method of payment by many consumers. getty This week, airlines, travel unions and aircraft manufacturers have stepped up their campaigning against these proposed changes, according to a Business Insider article. They say that weakening loyalty programs (and their associated perks) could have a detrimental effect to the aviation and travel industry as a whole. It could affect travel demand, which would hurt employment in the industry and eventually aircraft orders. The trade group Airlines for America is spearheading the efforts and has partnered with various travel companies and unions in a recent letter to senators, which includes support from the Allied Pilots Association, Airbus, American Airlines, Boeing, Southwest Airlines and United Airlines among others. America Airlines planes waiting for passengers at Miami International Airport. getty According to the group, credit cards had a nearly $25 billion effect on the economy in 2023, representing over 31 million American consumers. Limiting credit card benefits could put a dent in the loyalty miles and points game for consumers and a proverbial crater in the bottom line for airlines and hotels that rely on credit card revenue to offset slim margins elsewhere. In the December quarter alone, Delta brought in nearly $2 billion in credit card remuneration, which represented a 14% year-over-year increase from the same period last year. Airlines for America points to research that says that more than half of the loyalty miles and points redeemed in 2023 came from credit cards rather than via flights or hotel stays. A Delta Air Lines Airbus A330-300 getty The Electronic Payments Coalition (EPC), which represents credit card companies adds that this legislation would only benefit mega-stores and does not have the same effect for consumers. The group says that interchange fees have not increased in recent years and that credit card fees are hardly the highest expense that most businesses have to pay. In fact, it believes that small businesses stand to suffer the most if this legislation were to pass. According to a public document from EPC: 'credit card routing mandates would not lower the cost of goods for consumers, and in some cases, may raise costs for consumers.' United Airlines Boeing 777 Aircraft (777-200), Los Angeles International Airport (LAX). getty It counters that the argument that low-income individuals are footing the bill for these rewards programs is not accurate. Studies show that 'low-income individuals use rewards credit cards at a rate similar to high-income individuals' and 'there is substantial evidence that caps placed on credit cards transactions reduces rewards offered to consumers while increasing the cost of holding a card, ensuring consumers across income levels are left worse off.' Current, bipartisan negotiations are taking place on the Senate floor with a vote potentially taking place next week.
