Senate GOP loses leverage over new consumer watchdog
After a three year fight Republicans concede power over the Consumer Financial Protection Bureau by confirming Richard Cordray as director. Obama secures a victory as GOP drops bid to curb the agency funded by the Federal Reserve. Cordray approved 66 to 34 with 12 Republicans in favor.
MENTIONED IN THIS ARTICLE
Washington
GOP
Richard Cordray
Consumer Financial Protection Bureau
Barack Obama
Consumer Agency
Cordray
Federal Reserve
Fed
Obama
Senate
Rich
Harry Reid
Nevada
National Labor Relations Board
White House
Rise in bank earnings masks concerns
U S banks show strong quarterly profits driven by cost cuts and higher rates rather than loan growth. Mortgage refinancing may slow, regulators eye stricter liquidity rules, and experts warn full year gains depend on loan demand and economy.
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New York
U.S
Anthony Polini
Raymond James
Polini
Bank of America
Jpmorgan Chase
Wells Fargo
Citigroup
KFC tests upmarket KFC eleven near Louisville
KFC plans a test restaurant named KFC eleven near its Louisville headquarters that will serve boneless Original Recipe chicken with flatbreads rice bowls salads and side dishes while omitting Sanders image on the exterior. The concept targets younger diners and contrasts with fast casual rivals shaping a broader menu.
MENTIONED IN THIS ARTICLE
Louisville
New York
KFC
Col. Harland Sanders
KFC Eleven
Sanders
McDonald’s
Burger King
Wendy’s
Janney
Mark Kalinowski
John Cywinski
Bernanke signals bond flexibility and slow taper
Federal Reserve Chair Ben Bernanke told Congress the economy is improving gradually and policymakers are not on a preset timetable for scaling back bond purchases. He warned the program could be maintained or increased if growth weakens, as markets rallied on the prospect of a slower pace of stimulus reduction.
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Washington
Ben Bernanke
U.S
Federal Reserve
Fed
Congress
Bernanke
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