The Transportation Department will conduct an internal review of the National Highway Traffic Safety Administration in response to a series of recent safety failures, including this week's 7.8M vehicle recall, Reuters reports.
The House of Representatives' Energy and Commerce Committee is to hold an initial briefing with U.S. safety regulators next week to learn the details of the regional recalls affecting 10 automakers - Toyota (NYSE:TM), Honda (NYSE:HMC), Mazda (OTCPK:MZDAY), BMW (OTCPK:BAMXY), Nissan (OTCPK:NSANY), Mitsubishi (OTC:MMTOY), Subaru (OTCPK:FUJHY), Chrysler (NYSE:FCAU), Ford (NYSE:F) and General Motors (NYSE:GM).
It was reported on Friday that the Obama administration will likely nominate a permanent chief of the NHTSA within two weeks.
The results of the ECB stress tests aren't to be made public until this weekend, but an early leak from Bloomberg suggests 25 of the 150 or so lenders tested have failed - roughly inline with what was expected (and those failing are likely smaller names). Ten lenders, says Bloomberg, are in talks with regulators regarding capital shortfalls.