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Washington
Inside Washington (06/26/2008)
* WASHINGTON (6/27/08)--Time is running short as Senate Banking Committee Chairman Christopher Dodd (D-Conn.) and House Financial Services Committee Chairman Barney Frank (D-Mass.) struggle to pass housing legislation (American Banker June 26). Dodd said he has compromised with Senate Republicans as much as he can and met with Frank Tuesday to earn his support on the bill. Last week, Frank said he could not support the Senate package because measures to reform regulation of Fannie Mae and Freddie Mac don’t provide enough time to implement a new supervisor. Dodd also is being pressured by a deal he made with Sen. Richard Shelby (R-Ala.). Shelby agreed to raise the enterprises’ conforming loan limits. The senators originally hoped to pass the legislation by July 4 ... * WASHINGTON (6/27/08)--Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair and Sir Callum McCarthy, chairman of the United Kingdom Financial Services Authority (FSA), yesterday signed a memorandum of understanding (MOU) that will provide formal information-sharing and contingency planning arrangements in connection with cross-border banking activities in the U.S. and the United Kingdom. The MOU is designed to enhance the ongoing working relationship between the two authorities, the FDIC said in a release. “The MOU will provide tremendous assistance to both countries in promoting opportunities to learn from each other's experience and expertise--and could serve as a template for future agreements with other countries,” Bair said ...


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