The latest in Edolphus Towns

Toyota accused of 'withholding documents'

2010-02-27T07:15:51Z

<div><p>A top US lawmaker has attacked Toyota for allegedly withholding documents it was legally required to hand over in lawsuits by people injured in accidents in the Japanese auto giant's vehicles.</p><p>Toyota immediately denied the charge from Democratic Representative Edolphu...

US lawmaker blasts Toyota for withholding documents

2010-02-27T04:15:44Z

<div><p>A top US lawmaker has attacked Toyota for allegedly withholding documents it was legally required to hand over in lawsuits by people injured in accidents involving the Japanese auto giant's vehicles.</p><p>Toyota immediately denied the charge from Democratic Representative ...

Congress panel cites evidence of Toyota concealment

2010-02-26T18:15:14Z

<div><p>LOS ANGELES (Reuters) - A U.S. congressional panel has found evidence Toyota routinely withheld company records it should have turned over in court and settled personal injury cases to avoid revealing key engineering data dubbed the "Books of Knowledge," the panel's chairman said...

Business Highlights

2010-02-26T15:15:24Z

<div id="subtitle">Business Highlights</div><div><p>Growth likely slowing after big year-end spurt</p><p>WASHINGTON (AP) — The economy is now likely expanding at just half the brisk 5.9 percent pace at which the government on Friday estimated it grew last quarter. Business spending will make up for some of a slowdown in consumer spending — but not likely enough to reduce the jobless rate much.</p><p>In a fresh reading on the nation's economic stand...

Toyota Recall

2010-02-24T16:18:34Z

Chairman Edolphus Towns, D-N.Y.,, reaches to shake hands with Fe Lastrella, who lost family members in a car accident involving a Toyota Lexus in 2009, before she testifies at the House Oversight and Government Reform about Toyota on Capi...

Toyota to cover costs related to safety problems

2010-02-24T12:47:15Z

<div id="subtitle">Toyota agrees to cover consumer costs to help car, truck owners get recall repairs</div><div><p>Toyota Motor Corp. said Wednesday it will offer free at-home pickup of vehicles covered by the national safety recall, pay for customers' out-of-pocket transportation costs and provide drivers free rental cars during repairs.</p><p>The deal — costs to the company weren...

Toyota chief agrees to appear before US Congress

2010-02-22T08:32:07Z

<div><p>The head of embattled Japanese auto firm Toyota bowed to mounting pressure on Friday and agreed to appear before the United States Congress to answer concerns about safety, he said.</p><p>Akio Toyoda, scion of the Japanese car making family, is...

AIG probe widens to include Paulson, Friedman

2010-02-22T19:45:17Z

<div id="subtitle">House probe of AIG bailout widens to include Paulson, Friedman; GOP wants Bernanke affidavit</div><div><p>A House committee is broadening its probe of secretive bank bailouts to include former Treasury...

House lawmakers push ban on peer-to-peer software

2010-02-24T03:53:25Z

<div id="subtitle">Lawmakers want to restrict use of 'peer-to-peer' after disclosure of ethics committee report</div><div><p>Stung by an embarrassing electronic leak last month revealing ethics investigations into dozens of lawmakers, Congress moved Tuesday to prohibit federal employees from using the same type of Internet file-sharing software blamed for the disclosure.</p><p>The Secure Federal File Sharing Act,...

House panel's probe targets big mortgage lenders

2010-02-24T15:10:33Z

<div id="subtitle">House panel investigating role of mortgage lenders in crisis; subpoenas Countrywide Financial</div><div><p>A House panel is investigating the role of mortgage lenders in the financial crisis and is seeking information from some of the biggest U.S. companies to determin...

BofA's Countrywide to get subpoena over VIP program

2010-02-24T15:13:05Z

<div><p>WASHINGTON (Reuters) - A U.S. lawmaker said on Friday he will issue a subpoena to Countrywide Financial, now part of Bank of America Corp &lt;BAC.N&...

Congress calls on BofA directors to testify: source

2010-02-24T17:58:32Z

<div><p>WASHINGTON/CHARLOTTE, N.C (Reuters) - Two Bank of America directors have been asked to testify before Congress on the bank's acquisition of Merrill Lynch and ensuing fallout, a source familiar with the matter said on Friday.</p>...

TARP Inspector General Testifies Before House On AIG Bonuses

2009-10-14T11:32:40Z

WASHINGTON - OCTOBER 14: Committee Chairman Rep. Edolphus Towns (D-NY) pauses during a hearing before the House Oversight and Government Reform Committee on Capitol Hill October 14, 2009 in Washington, DC. The hearing focused on the fi...

Bank of America will give Congress more documents

2010-02-25T04:01:26Z

<div id="subtitle">Bank of America to hand over more documents in probe over Merrill deal, panel chair says</div><div><p>Bank of America Corp. will hand over more documents to a congressional committee probing its hastily arranged acquisition of troubled brokerage house Merri...

BofA skips Congress deadline, faces new SEC threat

2010-02-25T04:30:19Z

<div><p>WASHINGTON/NEW YORK (Reuters) - Bank of America &lt;BAC.N&gt; failed to meet a Monday deadline to hand lawmakers further details about its acquisition of Merrill Lynch and faces the possibility of new charges f...

BofA fails to meet congressional deadline

2010-02-25T04:35:47Z

<div><p>NEW YORK/WASHINGTON (Reuters) - Bank of America Corp &lt;BAC.N&gt; failed to meet a Monday midday deadline to hand over further details about its acquisition of Merrill Lynch to a congressional investigative co...

Lawmaker faults BofA's response to Merrill inquiry

2010-02-25T04:52:09Z

<div><p>NEW YORK (Reuters) - A congressman accused Bank of America Corp &lt;BAC.N&gt; of meeting his requests for information with volumes of irrelevant documents and has set a Monday deadline for more information, according to a letter obtained by Reuters.</p><p>The Septembe...

Democrat resists subpoenaing VIP mortgage records

2010-02-26T02:40:26Z

<div id="subtitle">Democratic chairman won't sign subpoena for Countrywide VIP mortgage records</div><div><p>House Democrats have declined to subpoena available records that might reveal whether other members of Congress got discounted VIP mortgages from subprime lender Count...

Lawmaker urges regulations for file-sharing

2010-02-26T03:16:25Z

<div><p>WASHINGTON (Reuters) - A senior U.S. lawmaker said on Wednesday that it may be time for the government to regulate companies that provide online file-sharing services after a number of people managed to access FBI files, medical records and Socia...

U.S. lawmaker probes device over minority radio data

2010-02-26T15:24:12Z

<div><p>WASHINGTON (Reuters) - A key U.S. lawmaker said on Monday he has launched an investigation into Arbitron Inc's device to track the public's listening habits because it may under represent some ethnic and age groups.</p><p>Arbitron is a media ratings serv...