Financial Transparency Coalition

Chairman Dodd, Ranking Member Shelby, members of the Banking Committee. I'm pleased to be here today to testify about the Administration's plan for financial regulatory reform.

WASHINGTON – President Obama will lay out a comprehensive regulatory reform plan this afternoon to modernize and protect the integrity of our financial system. While this crisis has had many causes, it is clear now that the government could have done more to prevent these problems from growing out of control and threatening our overall economy.

ZURICH (Dow Jones)--UBS AG (UBS) was again at the center of relations between Switzerland and the U.S. Tuesday as the two countries launched talks aimed at agreeing a double-tax treaty which experts say could have implications for the Swiss bank's ongoing legal battle with the Internal Revenue Service.

Switzerland's largest bank, UBS, has proposed giving United States tax authorities banking data on some of its clients but with no names or account numbers attached.