Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (08/06/2008)
* WASHINGTON (8/7/08)--The Office of the Comptroller of the Currency Tuesday issued an interim final rule that provides guidance to national banks investing in public welfare projects (American Banker Aug. 6). Banks can invest in the projects regardless of community income levels under a provision in a recently approved housing rescue law. Banks have been able to participate in the projects since 1963, but in 1992, Congress capped the investments at 10% of a bank’s capital. John Dugan, comptroller of the currency, headed lobbying efforts for the change ... * WASHINGTON (8/7/08)--Rep. Barney Frank (D-Mass.) and members of the House Financial Services Committee sent letters to banking trade groups, the government-sponsored enterprises and mortgage servicers asking them to use a refinancing program that becomes effective Oct. 1. The program would allow the Federal Housing Administration to insure more mortgages (American Banker Aug. 6). Recipients of the letters include JP Morgan Chase and Co., Citigroup, Bank of America, Wells Fargo, Washington Mutual, Option One Mortgage Corp., HSBC Holdings PLC and Litton Loan Servicing LP. The lawmakers requested a response by Aug. 31. Frank’s committee scheduled a hearing on the matter Sept. 17 ...


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
1 Day ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
1 Day ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
1 Day ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
1 Day ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
1 Day ago