Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (07/16/2008)
* WASHINGTON (7/17/08)--The Federal Deposit Insurance Corp. (FDIC) said Tuesday it will charge higher premiums to banks who rely on secured debt and advances. Taking over a troubled institution is costly for the agency, FDIC Chairman Sheila Bair said, referencing Indymac, which was closed by the Office of Thrift Supervision last week. The bank had $10 billion worth of advances (American Banker July 16). FDIC also published a final policy statement on the treatment of covered bonds in a conservatorship or receivership, which provides guidance on the availability of expedited access to collateral pledged for certain covered bonds after the FDIC decides whether to terminate or continue the transaction ... * WASHINGTON (7/17/08)--Skeptics voiced their concerns Tuesday regarding a Treasury plan to backstop government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac and create a new regulator for them (American Banker July 16). Treasury Secretary Henry Paulson said the department should have unlimited ability to buy debt from Fannie and Freddie. Sen. Richard Shelby (R-Ala.) and Sen. Jim Bunning (R-Ky.), opposed the idea. Federal Reserve Board Chairman Ben Bernanke said he thought the central bank would be helpful to a GSE regulator, while Rep. Spencer Bachus (R-Ala.) said he wasn’t sure if the GSEs’ credit needed to be expanded now that they have access to the discount window. Rep. Barney Frank (D-Mass.) said authority will be granted to the Treasury and Fed immediately, but additional regulations will happen later ... * WASHINGTON (7/17/08)--The Office of the Comptroller of the Currency will host a conference Sept. 9-10 in New Orleans on statistical analysis and modeling for fair lending risk assessment. During the conference, attendees will discuss current fair lending trends with regulators and industry experts, get an in-depth look at the OCC’s fair lending examination process, learn about credit scoring and pricing from a fair lending perspective, gain insights from bankers on their experiences with fair lending compliance and explore current issues in the consumer protection arena with representatives of the government agencies responsible for fair lending supervision and enforcement ...


RSS print
News Now LiveWire
July 's Fed Bank's "FedFocus" has some interesting articles: incl cost/benefits of $1 currency 2 coin conversion ttp://tinyurl.com/nybmnhh
9 hours ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
9 hours ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
10 hours ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
11 hours ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
13 hours ago