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Inside Washington (12/15/2011)
  • WASHINGTON (12/16/11)--Neil Barofsky, former special inspector general for the Troubled Asset Relief Program (TARP), criticized the Obama administration and Treasury Department for their response to the housing crisis. Barofsky, during a panel discussion on the foreclosure crisis the non-profit news organization ProPublica, said the administration's Home Affordable Modification Program (HAMP) was a failure because the White House feared being accused of helping "undeserving homeowners" (American Banker Dec. 15). The Obama administration backed away from its goal of helping three million to four million homeowners after CNBC editor Rick Santelli accused the government of promoting bad behavior with the HAMP program. Barofsky said the $28 billion left in TARP should be used to modify home loans …
  • WASHINGTON (12/16/11)--The U.S. Department of the Treasury's Community Development Financial Institution's (CDFI) Fund has certified Cascade Forest Products CU, Kent, Wash., as a CDFI. Incorporated in 1953, Cascade Forest Products CU provides access to capital for the low-income community of Clark County, Wash. Its services include financial counseling, youth accounts, workout loans, debt consolidation loans, and payday lending alternatives. Its targeted market is the low-income in Clark County, Wash. …


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