Tuesday, March 6, 2012

Pace of Dodd-Frank rulemaking slows

Welcome to the morning roundup. Here's a look at today's banking and finance headlines.

Dodd-Frank rules slow. The pace of rule-writing by the U.S. Securities and Exchange Commission has slowed drastically, less than halfway through the process of implementing the Dodd-Frank financial reform legislation, Bloomberg reports. The holdup is dragging out a period of uncertainty for the financial firms affected.

Bank of America layoffs just beginning? The Charlotte bank's headcount is virtually unchanged from the end of 2009 - suggesting the 30,000 planned layoffs have barely begun, TheStreet writes.

The election and the economy. The recovery is progressing differently in the 10 Super Tuesday states, CNNMoney writes. Take a look at how each state's economy stacks up, from unemployment rates to median household incomes.

U.S. stocks fall. Stocks slipped 1 percent at the open today as investors worried Greece and private bondholders might not meet a deadline to complete a debt swap - and as broader concerns about the global economy continued, Reuters reports.

Something sleazy about finance? A Bloomberg opinion piece discusses human nature and high-dollar jobs - and says finance isn't as amoral as it might seem.