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Washington
Inside Washington (04/26/2010)
* WASHINGTON (4/27/10)--The best way to achieve a compromise on a hot topic in the regulatory reform bill is to study it, according to American Banker (April 26). Senate Banking Committee Chairman Christopher Dodd’s (D-Conn.) 1,300-page bill contains more than two dozen studies on topics including industrial loan companies and the Volcker Rule. The high number of studies indicates that many of the issues in the bill are intricate, and suggests lawmakers are serious about dealing with them in the future. Because the number of studies could grow before the bill becomes law, there might be a “long process” for regulatory reform, said Cornelius Hurley, Boston University School of Law professor. Some issues--like the Volcker Rule--may need multiple studies. Some financial observers said the studies aren’t a good use of time, but they may prove valuable. The studies are a way to compromise and move toward a consensus, said Jane D’Arista, research associate with the Political Economy Research Institute at the University of Massachusetts Amherst ... * WASHINGTON (4/27/10)--The Federal Deposit Insurance Corp. (FDIC) has reduced the number of projected bank failures for this year, said Chairman Sheila Bair. Things are improving, Bair told a cable news outlet on Friday (American Banker April 26). There will be more than 140 failures this year but there will be fewer than what the agency predicted three months ago, she said. The projection of failures will peak at the end of the year, and it’s likely predominantly smaller banks will be closed. Some institutions that were near insolvency and on the FDIC’s problem list have recovered ...


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