U.S. banking rules must protect the financial system but they need “some refinement,” President Donald Trump’s nominee for the Federal Reserve’s top regulatory post told lawmakers on Wednesday.
“As with any complex undertaking, after the first wave of reform, and with the benefit of experience and reflection, some refinements will undoubtedly be in order,” Randal Quarles told the Senate Banking Committee in prepared testimony ahead of his confirmation hearing.
If confirmed by the Senate, Quarles will be the central bank’s top official tasked with protecting the stability of the financial system.
(Reporting by Patrick Rucker and Pete Schroeder; Editing by Lisa Shumaker)
American neo-Nazis now see 9/11 mastermind Osama Bin Laden as a role model: report
A new report from Vice claims that white supremacist organizations are increasingly viewing Osama Bin Laden, the late mastermind of the 9/11 terrorist attacks, as a role model whose actions can influence the future of their movement.
The report finds that neo-Nazi group Atomwaffen Division has recently started using Bin Laden's image in its propaganda while also promoting Islamist extremists' willingness to commit mass murder in the name of their religion as something that should be inspiring to American white nationalists.
‘My prayers aren’t working’: GOP Florida mayor calls for ban on ‘military-style’ weapons
A Republican mayor from Florida is asking City Council members to call for a ban on "military-style" weapons and other restrictions on gun sales, because he said his prayers have not yet been answered to stop gun violence.
State lawmakers have prohibited Florida cities from regulating firearms on their own, but Clearwater mayor George Cretekos has asked for elected officials to press Congress to ban assault weapons and high capacity magazines, and to pass a national "red flag" law and expanded background checks, reported the Tampa Bay Times.
Trump’s childhood home fails to sell — and is now scheduled for the auction block
Donald Trump's childhood home in Queens, New York, is set to go on auction after failing to sell for $2.9 million, reports The New York Times.
The real estate company facilitating the bidding is banking on either Trump haters or Trump fans taking an interest in the five-bedroom property, which is filled with images of Trump. “I’m sure there are investors, especially Trump supporters—and maybe even some Trump haters—who would love to buy the property,” Misha Haghani, founder of Paramount Realty, told the New York Times.