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Washington
Inside Washington (09/09/2010)
* WASHINGTON (9/10/10)--Elizabeth Warren had a meeting with President Barack Obama on Tuesday, possibly regarding a role to lead the new Bureau of Consumer Financial Protection (The Washington Post Sept. 8). Warren was not expected to be in Washington, D.C. until later this morn, when the Congressional Oversight Panel plans to release a report on the government’s $700 billion bailout fund. A White House official confirmed Warren visited the White House Tuesday but did not say why she was there ... * WASHINGTON (9/10/10)--Federal Deposit Insurance Corp. Chairman Sheila Bair said that regulators should be concerned about the risk of exposure the government is taking on in the mortgage market. There should be stricter underwriting standards, and “we can do a better job of having consistent, strong lending standards” for banks and nonbanks, she said. Fannie Mae and Freddie Mac back about 90% of new U.S. mortgages. Treasury Secretary Timothy Geithner has said the government’s role in housing should undergo a fundamental change but that it should also provide some backing in the mortgage market (Reuters Sept. 9) ... * WASHINGTON (9/10/10)—The House Financial Services Committee has announced a Sept. 15 hearing on the future and the progress of government-sponsored housing agencies Fannie Mae and Freddie Mac. Rep. Barney Frank (D-Mass.), who leads the committee, and Paul Kanjorski (D-Penn.) in July announced a slate of housing finance hearings set for September. The U.S. Treasury and the Department of Housing and Urban Development held a panel discussion on housing finance reform and its impact on the financial markets and housing policy in mid-August, and the Obama administration is planning to provide its own housing finance reform proposal to Congress in early 2011… * WASHINGTON (9/10/10)--The Senate Banking Committee will be much different next year, as chairman Christopher Dodd (D-Conn.) and four other members are set to leave at the end of this Congress. Sens. Evan Bayh (D-Ind.), Jim Bunning (R-Ken.) and Judd Gregg (R-N.H.) are retiring. Sen. Robert Bennett (R-Utah) also is not returning after losing his primary race. Some financial industry representatives anticipate the committee may be more moderate in the next two years, said American Banker (Sept. 9), whether or not Republicans take control of the Senate in the November elections ...


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