The Fed wants to ensure the country's largest banks are prepared to weather another recession. The move comes as the debt crisis in Europe threatens to destabilize global markets. Banks will be required to show they have enough capital to continue lending money under severe economic conditions.
The pharmaceutical company Merck has agreed to pay nearly a billion dollars to settle charges that it illegally marketed its painkiller, Vioxx. The drug was taken off the market in 2004 after questions were raised about its safety. NPR's Jim Zarroli reports.
On Long Island in New York, a high school cheating scandal is widening. The local district attorney says 13 additional people now face charges for trying to cheat on college entrance exams. More from NPR's Larry Abramson.
The big theme out of Tuesday night's Republican presidential debate in Washington was Newt Gingrich's compassionate stance toward illegal immigrants who have put down deep roots in the U.S.
That position by Gingrich, who has recently surged to join Mitt Romney at the head of the Republican field according to recent polls, conflicted with the more hardline views of many conservative voters.
Many of those GOP voters who will decide their party's nominee oppose allowing illegal immigrants to remain in the U.S., period.