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Inside Washington (08/20/2010)
* WASHINGTON (8/23/10)--National Credit Union Administration (NCUA) Board Member Michael E. Fryzel met last week with delegates from Uzbekistan at the Illinois Credit Union League’s office in Naperville, Ill. The event was part of an exchange program administered by the Council of International Programs Chicago to give the delegation an opportunity to learn about U.S. credit unions, their supervision and management role in the financial system, and their relationship with the federal and state governments and credit union associations and different institutions supporting the development of credit unions. “It is my hope that the information they receive will assist them in overcoming the challenges facing the credit union system of Uzbekistan and help them create a thriving structure for their members,” Fryzel said. (Photo provided by the National Credit Union Administration) ... * WASHINGTON (8/23/10)--Community Reinvestment Act data released by regulators Thursday indicate that the credit crisis has triggered a slowdown in lending. The report, which has data from 941 lenders, said small business loans originated or purchased in 2009 dropped 42% from the previous year--to 6.2 million. The value of the loans fell 30%, to $206 billion (American Banker Aug. 20). Small loans to farms dropped 29%, and the amount of those loans fell 18%. The total amount of community development loans originated or purchased dropped 52%, to $34.7 billion. Regulators said this was due to the high number of loans purchased in 2008. Total community development originations dropped 29%, to more than 15,800 ... * WASHINGTON (8/23/10)--Housing’s hold on government policy won’t weaken, according to a news analysis in The Wall Street Journal (Aug. 20). The “foreclosure wave” could subside by the end of 2011, which reduces the need for the government’s intervention. Foreclosures likely will continue to fall, even if the economy continues to struggle, the newspaper said. However, chances that the government will retreat from the housing sector are slim. Government entities back all new mortgages, while banks guarantee almost zero because few borrowers will take out mortgages from those banks when the government is offering 30-year fixed-rate loans with low rates. For the housing market to recover completely, it must draw participation from investors or private banks, the analysis said. That may not happen until Fannie and Freddie are “scaled back” and the housing market clears, the newspaper added ... * WASHINGTON (8/23/10)--The Federal Deposit Insurance Corp. (FDIC) has been granted supervisory powers over large companies the Federal Reserve Board oversees, and financial observers are questioning the dynamics of FDIC’s and Fed’s relationship. Douglas Landy, former Fed lawyer, said he could see a “rocky road” ahead because it’s “difficult to bring in people whose agenda is not exactly the same as yours,” he told American Banker (Aug. 20). Under the reform bill, the FDIC can examine systemically important financial institutions with more than $50 billion in assets. The agency has received backup enforcement authority over bank holding companies that pose a risk to the Deposit Insurance Fund ...


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