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 (09/16/2008)
* WASHINGTON (9/17/08)--The Merrill Lynch-Bank of America deal may have increased risks faced by the Federal Deposit Insurance Corp. (FDIC), according to industry observers. Over the weekend, the Federal Reserve Board waived long-standing limits, which are aimed to prevent commercial banks from bailing out their affiliates (American Banker Sept. 16). Observers say the waiver may have paved the way for Merrill Lynch to agree to sell itself to Bank of America. Lawmakers worry the FDIC will run out of funds to pay for bank failures because barriers designed to prevent commercial banks from bailing out their affiliates are being relaxed. FDIC Chairman Sheila Bair said the agency is monitoring risks posed by the investment bank sector; and has taken steps to mitigate impact from the Lehman Brothers bankruptcy filing. On Thursday, regulators will testify before the Senate Banking Committee on the IndyMac Bank failure ... * WASHINGTON (9/17/08)--The Federal Reserve Banks Monday announced “significant progress” converting customers to the FedLine Direct access solution ahead of sunset date Dec. 31 for legacy computer-interface technology. The conversion does not involve changes to message or file formats. The solution leverages a financial institution’s investment in Internet protocol-based technology. “As with all Federal Reserve access solutions, security and reliability are top priorities,” said Tony Fressola, assistant vice president of the Fed’s wholesale product office ... * WASHINGTON (9/17/08)--John A. Koskinen and Philip A. Laskawy will serve as the non-executive chairmen of Fannie Mae and Freddie Mac, respectively, the Federal Housing Finance Agency announced Tuesday. Koskinen worked at Palmieri Co., serving as president/CEO from 1979 to 1993. He also has served in several senior positions with the federal government, including deputy director for management in the Office of Management and Budget. Laskawy served as chairman/CEO of Ernst and Young from 1994 to September 2001. In 2006-2007, he served as chairman of the International Accounting Standards Committee Foundation ...


RSS





print
News Now LiveWire
Construction spending drops in January, according to @CommerceGov http://t.co/W9J1mDyF8X #Market #NewsNow
14 hours ago
During Nat'l Consumer Protection Week, @TheNCUA reminds #CU members of agency resources re: rights as consumers. http://t.co/aYgW1HoDmF
15 hours ago
.@TransUnion: #millennials climbing into driver's seat with loans http://t.co/S4H9OIB3Av
16 hours ago
Breaking at #NewsNow: @CUNA backed bill introduced by @RepEdRoyce @GregoryMeeks would raise MBL cap. #CUSmallBiz http://t.co/ZDAb2UMoQz
18 hours ago
Loan growth at federally insured #creditunions in 2014 climbed to highest level since 2005, @TheNCUA reported today. Watch News Now Tues.
18 hours ago