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Author Archives: Bloomberg News

Immigration foes seen getting no help from courts

The lifeline Barack Obama threw 5 million undocumented immigrants is seen as tough to sever in court, because he’s exercising discretion that historically only Congress can check, either through legislation or possibly impeachment.

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Honda may face record fine for underreporting

Honda Motor Co. said it failed to report more than 1,700 claims of injury or death involving its cars to U.S. regulators, a violation that would be one of the biggest in history and could lead to a fine of $35 million.

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Obama calls Hagel ‘exemplary’ as defense chief steps down

U.S. Defense Secretary Chuck Hagel is stepping down from his post after 21 months in office amid tension with the White House over strategy and the rise of new security challenges to the country.

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Regulators urged to set Fannie-Freddie free

The predictions of housing analysts is that there is no chance the Republican leadership taking over the Senate will reach an agreement with Democrats and President Barack Obama to reform a system that guarantees affordable mortgages to most Americans.

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Fed reviews bank supervision as Senate panel begins hearings

On the eve of a Senate hearing Friday into whether the Federal Reserve has been “captured” by the institutions it is supposed to regulate, the Fed announced a broad review of its supervision of the largest banks, and a top official acknowledged there’s a danger that examiners could be too easy on them.

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House Republicans sue Obama over delays in health-care law

U.S. House Republicans sued President Barack Obama’s administration over implementation of the 2010 health-care law, saying the president exceeded his authority by delaying part of the program.

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Congress can’t defund immigration order

Congress can’t use spending bills to defund the main agency that would carry out President Barack Obama’s immigration order, a House committee aide said, complicating Republicans’ plans to block executive action by choking off funds.

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Extension of lapsed tax breaks faces obstacles in Congress

U.S. lawmakers are trying to make a deal to extend dozens of lapsed tax breaks through 2015 and make a few of them permanent, said two Senate Democratic aides and a House Republican aide.

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U.S. said to pursue charges against other mortgage traders

The U.S. government is building potential securities fraud cases against more Wall Street mortgage-bond traders after winning a conviction this year against a former Jefferies Group LLC trader, according to two people with knowledge of the investigations.

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FAA’s power to police civilian drones bolstered by U.S. ruling

The Federal Aviation Administration’s authority to regulate civilian drones was upheld Tuesday in a ruling that gives the U.S. government more power to police the fast-growing use of unmanned aircraft.

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