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Congress Economy EXIM President Donald Trump Senate Democrats Top News 

Senate Democrats question if they can trust EXIM Bank nominee to support its mission

August 2, 2017 WASHINGTON (Reuters) – Eight U.S. Senate Democrats questioned on Tuesday whether they could trust President Donald Trump’s nominee for the top job at the U.S. Export-Import Bank to support renewing the trade lender’s charter in 2019 and to believe in its mission. Scott Garrett, a former Republican congressman from New Jersey who was one of the EXIM Bank’s leading opponents during a 2015 fight in Congress to shut it down, “refused to confirm that he would unequivocally support reauthorizing the bank,” Senate Democratic leader Chuck Schumer and…

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accounts Congress fake Money Top News Wells Fargo Co 

Democrats want to grill Wells Fargo executives about auto insurance

August 1, 2017 By Patrick Rucker WASHINGTON (Reuters) – Democratic lawmakers pushed on Tuesday for another chance to question Wells Fargo & Co’s leadership about sales practices after the scandal-hit bank said it forced auto insurance on borrowers who did not need it. Democrats on the Senate Banking Committee asked its Republican leaders in a letter to summon Wells Fargo Chairman Stephen Sanger and Chief Executive Tim Sloan. That letter accompanied one sent by Representative Maxine Waters, the top Democrat on the House Financial Services Committee, who wants to know…

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Congress debt Economy pension Top News Treasury Mnuchin 

U.S. Treasury’s Mnuchin extends debt limit measure for two months

July 28, 2017 By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin on Friday said he would extend for two more months one of the extraordinary cash management measures that the Treasury is using to stave off a debt-limit default. Mnuchin said in a letter to House of Representative Speaker Paul Ryan that he would continue to withhold investments from the Civil Service Retirement and Disability Fund, until Sept. 29. The Treasury’s previous “debt issuance suspension period” for the federal employee pension fund was due to expire on…

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Amazon Whole Foods Business Congress Department of Justice Federal Trade Commission 

Democrats in U.S. Congress urge review of Amazon’s Whole Foods deal

July 21, 2017 By Ginger Gibson WASHINGTON (Reuters) – A group of Democrats in Congress urged the U.S. Department of Justice and Federal Trade Commission in a letter this week to conduct a more in-depth review of online retailer Inc’s plan to buy grocer Whole Foods Market Inc. The lawmakers asked that the review include consideration of what effect the $13.7 billion deal could have on access to healthy foods in so-called food deserts where residents may have limited access to fresh groceries. “While we do not oppose the…

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Congress election presidential Russian Tech Top News 

Russians targeted 21 election systems, U.S. official says

June 21, 2017 By Dustin Volz and Julia Edwards Ainsley WASHINGTON (Reuters) – Russian hackers targeted 21 U.S. state election systems in the 2016 presidential race and a small number were breached but there was no evidence any votes were manipulated, a Homeland Security Department official told Congress on Wednesday. Jeanette Manfra, the department’s acting deputy undersecretary of cyber security, testified before the Senate Intelligence Committee. U.S. intelligence agencies have concluded the Kremlin orchestrated a wide-ranging influence operation that included email hacking and online propaganda to discredit Democratic presidential candidate…

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BAT Business Congress tax free taxes 

Republicans debating remedies for corporate tax avoidance

June 18, 2017 By David Morgan WASHINGTON (Reuters) – President Donald Trump and Republican leaders in Congress will soon confront a complex challenge for tax reform: how to limit U.S. corporate tax avoidance schemes that take advantage of low tax rates in foreign countries.Congressional and administration staff have begun to examine options to address profit-shifting schemes that include so-called transfer pricing, earnings stripping and tax inversions. A decision on how to handle these in tax legislation could come before Congress leaves town for its one-week July 4 recess on June…

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Congress House Republican state Tech Top News Trump Administration 

U.S. states could not set self-driving car rules under Republican plan

June 15, 2017 By David Shepardson WASHINGTON (Reuters) – California and other states would be barred from setting their own rules governing design and testing of self-driving cars, while federal regulators would be blocked from demanding pre-market approval for autonomous vehicle technology, according to a U.S. House Republican proposal reviewed by Reuters on Thursday. The draft legislation, while far from becoming law, still represents a victory for General Motors Co, Alphabet Inc, Tesla Inc and other automakers and technology companies seeking to persuade Congress and the Trump administration to pre-empt…

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Business CFPB Congress Randal Quarles Trump Wall Street 

Trump’s Wall Street game plan needs players

June 13, 2017 By Pete Schroeder and Lisa Lambert Washington (Reuters) – Wall Street banks on Tuesday cheered U.S. President Donald Trump’s plans to loosen the leash put on them in the wake of the 2008 financial crisis but they do not expect significant change any time soon.     The Trump administration has said the bulk of its plan for overhauling bank regulation can be done via executive order and through regulators, rather than requiring legislation from Congress. But Trump is months away from installing top officials at key regulatory…

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Business CFPB Congress President Donald Trump report 

U.S. Treasury unveils financial reforms, critics attack

June 13, 2017 By Pete Schroeder and Lisa Lambert (Reuters) – The U.S. Treasury Department unveiled a sweeping plan on Monday to upend the country’s financial regulatory framework, which, if successful, would grant many items on Wall Street’s wishlist. The nearly 150-page report that suggested more than 100 changes, most of which would be made through regulators rather than Congress. Republican President Donald Trump has gradually been nominating heads of financial agencies like the Office of the Comptroller of the Currency and the Securities and Exchange Commission to carry out…

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Big oil, small U.S. towns see new reward in old production technique

June 5, 2017 By Ernest Scheyder HOBBS, New Mexico (Reuters) – Amid the frenetic activity of American shale oilfields recovering from a two-year recession sit a handful of oil towns that seemed impervious as many producers went into bankruptcy and the economy around them sank. Occidental Petroleum Corp and a few other oil producers with wells near this town on New Mexico’s border with Texas steadily pumped low-cost oil through the downturn, using a technique that has been heralded worldwide as a way to reduce carbon emissions and boost oil…

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