Treasury chief defends guidance given banks on marijuana shops
WASHINGTON (Reuters) – Treasury Secretary Jack Lew on Tuesday defended the Obama administration’s decision to let banks do business with marijuana dealers in states that have legalized the drug, insisting to lawmakers that it was not tacit approval und…
New Jersey Governor Christie picks chair of embattled Port Authority
(Reuters) – New Jersey Governor Chris Christie said on Tuesday he has tapped former state Attorney General John Degnan to chair the board of the embattled Port Authority of New York and New Jersey.
FBI creating unit to trace corrupt foreign assets
WASHINGTON (Reuters) – The FBI will create a unit to help trace the assets of corrupt foreign leaders, to complement an existing group of prosecutors focused on the issue, Attorney General Eric Holder said on Tuesday.
U.S. Senator Reid leaves door open to Keystone pipeline vote
WASHINGTON (Reuters) – U.S. Senate Majority Leader Harry Reid on Tuesday left open the possibility of voting on legislation forcing the approval of the long-delayed Keystone XL pipeline that would link Canada’s oil sands to refineries in Texas.
SEC chair to Congress: ‘The markets are not rigged’
WASHINGTON (Reuters) – U.S. Securities and Exchange Commission Chair Mary Jo White flatly rejected claims that retail investors are being fleeced by high-frequency traders who can use their speed to jump ahead with buy and sell orders that fetch better…
Prospects dim for Senate housing bill as panel postpones vote
WASHINGTON (Reuters) – The already dim prospects for a bill to wind down taxpayer-owned mortgage financiers Fannie Mae and Freddie Mac grew darker on Tuesday, as a Senate committee postponed a vote on the legislation.
U.S. Senate panel backs Fischer to be Fed’s No. 2
WASHINGTON (Reuters) – The Senate Banking Committee approved three nominees to the Federal Reserve’s board on Tuesday, including Stanley Fischer to be the U.S. central bank’s No. 2, in a big step toward replenishing the Fed’s governing body.
White House wades cautiously into effort to protect online privacy
WASHINGTON/SAN FRANCISCO (Reuters) – The White House will lay out ideas this week for protecting U.S. consumers’ privacy in an era in which the ubiquitous use of computers and mobile phones provides a constant data feed on individuals.
Massachusetts child welfare chief resigns after deaths
BOSTON (Reuters) – The head of Massachusetts’ child welfare department stepped down on Tuesday under fire from state politicians angered by the recent deaths of three children.
U.S. House tax panel backs bigger, permanent R&D tax credit
WASHINGTON (Reuters) – The U.S. business tax credit for research and development (R&D) costs would be expanded and made permanent under a measure approved on Tuesday by the U.S. House of Representatives’ tax-writing panel, but the legislation still has a long road ahead before it becomes law.
