Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (03/25/2009)
* WASHINGTON (3/26/09)--Federal Reserve Board Chairman Ben Bernanke suggested giving more power to the Federal Deposit Insurance Corp. (FDIC) to regulate systemic risk during a House Financial Services Committee hearing Tuesday. The regulator does not have to be the same agency with resolution powers, he added. The Treasury and Fed both submitted proposals to create authority over struggling banks for systemically significant holding companies. House Financial Services Committee Chairman Barney Frank (D-Mass.) is drafting a bill to give the government resolution powers, but did not provide specifics on his legislation at the hearing (American Banker March 25). Treasury Secretary Timothy Geithner is expected to testify today before the Financial Services Committee and observers anticipate that the Obama administration will release more details on a plan to regulate systemic risk ... * WASHINGTON (3/26/09)--The role of CEO over Fannie Mae and Freddie Mac continues to change, and some observers say the position may be irrelevant. James Lockhart, director of the Federal Housing Finance Agency (FHFA), currently serves as conservator over the two enterprises. Fannie CEO Herbert Allison said he controls Fannie’s operations but he views FHFA as the controlling shareholder (American Banker March 25). Lockhart said his agency cannot run the enterprises itself. The CEO’s power will likely center on administrative tasks, according to Bert Ely, consultant in Alexandria, Va. A CEO is needed to run the enterprises, but the role is different than what it used to be--and that may make things simpler, added Brian Gardner, analyst for Keefe, Bruyette and Woods ... * WASHINGTON (3/26/09)--The Senate has confirmed Gov. Gary Locke of Washington as secretary of the Commerce Department. The Senate approved the nomination with a voice vote. President Barack Obama’s first two nominees--Sen. Judd Gregg (R-N.H.) and New Mexico Gov. Bill Richardson--withdrew (The New York Times March 25) ...


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
1 Day ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
1 Day ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
1 Day ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
1 Day ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
1 Day ago