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Washington
Inside Washington (01/20/2011)
* ALEXANDRIA, Va. (1/21/11)--“It's that time again!” says a National Credit Union Administration announcement of a free Credit Union Workshop scheduled for March 26 in Los Angeles. The agenda includes discussion of a wide range of topics, including such things as examination issues, what the agency’s new office of consumer protection means to credit unions, federal credit union directors’ fiduciary duties, and basic financial literacy requirements. The Los Angeles session follows three other scheduled workshops: one in Phoenix, Ariz., on March 5, one in Richmond, Va. on March 10, and another in Philadelphia on March 17 … * WASHINGTON (1/21/11)--Bank regulators are at odds over how best to launch national standards for servicing mortgage loans, although they appeared to be in accord that such standards should be established. The Federal Deposit Insurance Corp. (FDIC) backs the idea of tucking the standards into an existing Dodd-Frank Act risk-retention proposal, but the Office of the Comptroller of the Currency (OCC) does not (American Banker Jan. 20). FDIC Chairman Sheila Bair said in a speech this week that it is “imperative” that the risk-retention rule include provisions that improve loan servicing because of the effect it would have on preserving value for investors and preventing systemic instability. However, John Walsh, acting head of the OCC, countered that it would be “inappropriate” to include servicing standards in the Dodd-Frank qualified-residential-mortgages rule, and may not even fit legally. Also, Walsh said the OCC would rather see a broader set of standards, ones that could be applied across the system and enforced by federal regulators …


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