Latest Financial industry regulation News

Mobile homesick: Aurora struggles trying to help renters

Sep. 15, 2019 1:43 PM EDT

AURORA, Colorado (AP) — More than a year ago, Aurora was blazing trails in how to handle the battle between mobile home park owners and helpless renters. Now, Aurora lawmakers, like so many across the state, are struggling again with whether and how to preserve the dwindling stock of affordable housing....

The Latest: Bill to block Trump environmental changes passes

Sep. 14, 2019 5:02 AM EDT

SACRAMENTO, Calif. (AP) — The Latest on action on the final day of the California Legislature (all times local): 1:50 a.m. California lawmakers have passed a bill aimed at blocking the Trump administration's efforts to weaken environmental laws. The state Senate voted 26-14 early Saturday to send the bill...

California advances bill to cap consumer loan interest rates

Sep. 13, 2019 11:16 PM EDT

SACRAMENTO, Calif. (AP) — California lawmakers approved legislation Friday to cap interest rates for consumer loans, a measure that supporters say is designed to blunt predatory lending practices. The bill would cap consumer loan interest rates at 36 percentage points above the main interest rate set by...

PG&E reaches $11B deal with California wildfire insurers

Sep. 13, 2019 4:53 PM EDT

SAN FRANCISCO (AP) — Pacific Gas & Electric has agreed to pay $11 billion to a group of insurance companies representing claimants from deadly Northern California wildfires in 2017 and 2018 as the company tries to emerge from bankruptcy, the utility announced Friday. The utility said in a statement the...

California advances bill to cap consumer loan interest rates

Sep. 13, 2019 3:48 PM EDT

SACRAMENTO, Calif. (AP) — The California Senate has advanced legislation to cap interest rates for consumer loans. The bill caps interest rates for payday and other loans at roughly 38 percent. The cap will fluctuate slightly depending on a key interest rate set by the Federal Reserve. It affects loans...

Liberal, moderate divide on display in Democratic debate

Sep. 13, 2019 3:43 PM EDT

HOUSTON (AP) — Joe Biden parried attack after attack from liberal rivals Thursday night on everything from health care to immigration in a debate that showcased profound ideological divides between the Democratic Party's moderate and progressive wings. The prime-time debate also elevated several struggling...

Nebraska ballot drive seeks to cap payday loan rates

Sep. 13, 2019 12:00 PM EDT

LINCOLN, Neb. (AP) — Advocates for low-income families and children have announced a petition drive for a Nebraska ballot measure to cap the interest payday lenders can charge at 36% annually. The coalition said Friday it will start gathering signatures to put the issue on the 2020 general election ballot....

London Stock Exchange rejects Hong Kong takeover bid

Sep. 13, 2019 11:43 AM EDT

LONDON (AP) — The London Stock Exchange on Friday rejected an unsolicited takeover bid from its Hong Kong counterpart, citing "fundamental concerns" about the offer. The London Stock Exchange Group said strategic and regulatory problems were among the reasons it turned down the unexpected proposal by Hong...

California college athlete 'fair pay' bill goes to governor

Sep. 11, 2019 9:14 PM EDT

SACRAMENTO, Calif. (AP) — Athletes at California colleges could hire agents and sign endorsement deals under a bill the state Legislature sent to the governor Wednesday, setting up a potential confrontation with the NCAA that could jeopardize the athletic futures of powerhouse programs like USC, UCLA and...

Audit: Federal utility execs overspent on travel expenses

Sep. 11, 2019 7:00 PM EDT

NASHVILLE, Tenn. (AP) — An audit has found instances in which executives for the nation's largest public utility overspent on travel. The inspector general's report Wednesday audited about $1.8 million worth of Tennessee Valley Authority executive travel expenses from October 2016 through July 2018. The...