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Washington
Inside Washington (08/26/2011)
* WASHINGTON (8/29/11)--JP Morgan Chase & Co. has reached an $88.3 million settlement for alleged violations of international sanctions programs, including Cuban assets control and anti-terrorism regulations (American Banker Aug. 26). The violations include more than 1,700 wire transfers, totaling about $178.5 million, involving Cuban nationals who were processed in apparent violation of the Cuban Assets Control Regulations. The settlement represents the largest civil penalty against a U.S. bank for sanctions violations … * WASHINGTON (8/29/11)--The Obama administration’s plan to ease criteria for refinancing Fannie Mae or Freddie Mac mortgages could strengthen the economy and help troubled homeowners--without requiring the approval of Republicans (American Banker Aug. 26). The plan would allow homeowners to reduce their monthly mortgage payments, giving borrowers more money to spend and possibly stimulating the economy. It also would reduce the chance that taxpayers would have to pay for defaulted mortgage loans. The plan would not necessarily require the approval of Congress, where Obama’s proposals have met opposition from Republicans …


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