Reuters Politics

WASHINGTON (Reuters) - Regulators are expected to give the public and the banking industry 30 more days to comment on a proposed framework to implement the controversial Volcker rule, which bans banks from trading with their own funds, according to a person with knowledge of the decision.Both congressional Republicans and bank lobbying groups have been asking regulators to provide more time for comments on a proposed rule that was released in October. The comment period on that rule is set to...Read Full Story

WASHINGTON (Reuters) - U.S. regulators are expected to give the public and the banking industry 30 more days to comment on a proposed framework to implement the controversial Volcker rule, which bans banks from trading with their own funds, according to a person with knowledge of the decision.Both congressional Republicans and bank lobbying groups have been asking regulators to provide more time for comments on a proposed rule that was released in October. The comment period on that rule is...Read Full Story

WASHINGTON (Reuters) - The Senate on Saturday approved a $1 trillion bill to fund the government and a two-month extension of the payroll tax cut, putting a cap on a contentious political year but setting up a fresh battle for 2012.Democrats and Republicans were unable to agree on how to cover the cost of extending payroll tax cuts and long-term unemployment benefits for a full year, as President Barack Obama requested. So senators settled for a two-month extension that ensures another round...Read Full Story

WASHINGTON (Reuters) - Republicans in the House of Representatives are pressuring regulators to delay implementation of the controversial Volcker rule, which bans banks from trading with their own funds.On Thursday Texas Republican Randy Neugebauer released a letter signed by 121 lawmakers, including four Democrats, that seeks the delay and requests that regulators ask for more public comment before issuing a final rule.Under the 2010 Dodd-Frank financial oversight law, enacted in response to...Read Full Story

WASHINGTON (Reuters) - Republicans were under growing pressure on Wednesday to agree to a 60-day extension of an expiring payroll tax cut for 160 million workers and end a stand-off with Democrats that threatens to undercut a fragile economic recovery.If the Congress cannot reach a deal by December 31, the payroll tax American workers pay to fund the Social Security federal retirement program will rise immediately to 6.2 percent, from 4.2 percent.Many economists and the White House warn that...Read Full Story