Reuters: Regulatory News: PRESS DIGEST - New York Times business news - May 10

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PRESS DIGEST - New York Times business news - May 10 May 10th 2012, 05:48 Thu May 10, 2012 1:48am EDT May 10 (Reuters) - The following were the top stories on the New York Times business pages on Thursday. Reuters has not verified these stories and does not vouch for their accuracy. * The Securities and Exchange Commission disclosed Wednesday that it was investigating another Chinese client of the Shanghai affiliate of Deloitte, the large accounting group, on suspicion of accounting fraud. It did not identify the company, but an official said the investigation, which began in 2010, was continuing. * Despite noisy protests inside and outside Bank of America's annual meeting here Wednesday, shareholders signed off on the $7 million 2011 pay package for the Chief Executive, Brian Moynihan. * The Consumer Financial Protection Bureau said it planned to propose tighter mortgage lending regulations that would limit the ability of banks and mortgage brokers to charge certain transaction fees, possibly ending one of the most abusive costs levied on consumers when they buy a house. * The Obama administration and the nation's chief privacy regulator pressed Congress on Wednesday to enact online privacy legislation, saying new laws would level the playing field between companies that already had privacy policies and those that lacked them, and thus escape regulatory oversight.

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