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Washington
Inside Washington (03/13/2008)
* WASHINGTON (3/14/08)--The Federal Deposit Insurance Corp. (FDIC) is set to vote today on premium rates, and bankers are waiting to see if the agency will lower the rates as it said it would two years ago--when a law giving the agency power to adjust rates was enacted (American Banker March 13). Some industry observers doubt the FDIC will lower rates. John Douglas, a former FDIC general counsel, said he would be surprised if the rates were cut. Jaret Seiberg, Stanford Group Co. analyst, said the agency will want to be perceived as healthy, so it would likely not defer to banks if failures soon rise ... * WASHINGTON (3/14/08)--Dean Schultz has been named as president/chief executive of the Federal Home Loan Bank (FHLB) of San Francisco, succeeding David Hehman, president/CEO of FHLB Cincinnati (American Banker March 13). Schultz’s appointment ends March 31, 2011 ... * WASHINGTON (3/14/08)--The President’s Working Group on Financial Markets recommends stronger oversight of mortgage lenders, Treasury Secretary Henry Paulson said yesterday (Forbes March 13). The group released a statement with recommendations on how to improve the future state of U.S. and global financial markets, earning the support of Federal Reserve Board Chairman Ben Bernanke. “The recommendations constitute an appropriate and effective response to the deficiencies in our financial framework that contributed to the current turmoil in the financial markets,” Bernanke said. One recommendation would be to improve oversight of mortgage lenders by federal and state regulators, while another would implement licensing standards for mortgage brokers across the U.S. ... * WASHINGTON (3/14/08)--Former Sen. Howard M. Metzenbaum (D-Ohio) died Wednesday at the age of 90 (Associated Press March 13). He was a former union lobbyist and labor lawyer and spent 18 years on Capitol Hill, from 1977 to 1995. After his third term in the Senate, he headed the Consumer Federation of America (CFA), of which the Credit Union National Association was a founding member ...


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