Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (12/07/2007)
* WASHINGTON (12/10/07)--A loan modification bill by Rep. Mike Castle (R-Del.) could be revised to ease opposition from federal banking regulators, who stated that the bill could trigger problems in the secondary market. Castle stated that he is open to changes, but has not yet decided on how he should proceed. Castle’s legislation would provide protection to loan servicers, who engage in loan modification, from lawsuits. At a House Financial Services Committee hearing, Comptroller of the Currency John Dugan said that Castle’s bill could “create a new field of potential litigation that is more challenging and inhibits loan modification efforts” (American Banker Dec. 7). Sheila Bair, Federal Deposit Insurance Corp. chairman, commented that the bill, if passed in its current form, could be in violation of the Constitution. She also said that she was unsure if the bill is even needed, a statement also supported by House Financial Services Committee Chairman Barney Frank (D-Mass.) … * ALEXANDRIA, Va. (12/10/07)—National Credit Union Administration (NCUA) Vice Chairman Rodney Hood last week said he would “look forward wholeheartedly’ to supporting Michael Fryzel as new chairman of the agency. President George W. Bush announced his intention to nominate Fryzel, an Illinois real estate lawyer and former director of the state's Department of Financial Institutions, to the NCUA board and designate him as chairman. The current chairman’s term expired in August, but JoAnn Johnson said she would remain as the agency’s leader until Fryzel can be nominated and confirmed for the position…


RSS





print
News Now LiveWire
16.9% of U.S. homeowners underwater, down from peak 31.4% in 2012, reports @zillow http://t.co/EbILqY1HMz
1 hours ago
Breaking at #NewsNow: President Obama signs IOLTA bill into law. http://t.co/5N741Bygmn
3 hours ago
.@edmunds says the week between Christmas and New Year's is the busiest car shopping time of the year.
4 hours ago
.@CFPB sues Sprint for cramming 3rd-party service fees onto consumers' bills http://t.co/mhlMWqLKku
4 hours ago
#HomeDepot #databreach lawsuits consolidated in Georgia http://t.co/A4bei5z0mV
5 hours ago