Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (04/19/2011)
* WASHINGTON (4/20/11)--A Federal Deposit Insurance Corp. (FDIC) report issued earlier this week claims that regulators in 2008 could have successfully wound down Lehman Brothers Holdings Inc., avoiding further shock to the market and preventing a taxpayer-funded bailout, if the powers given to the agency by the Dodd-Frank Act had been in place. (Reuters, 4/19/11) Critics have said that the FDIC’s claims, which were made in a 19 page document, are overly optimistic. The FDIC’s pending resolution authority, which is set to come into effect later this year, would allow that agency, with the approval of other regulators, to temporarily operate troubled holding companies or insurance firms until they can be sold or shut down… * WASHINGTON (4/20/11)—A 43-member group of House Democrats late last week called for “reforms that reduce the risk to taxpayers and that create conditions for the private sector to play a larger role in the secondary mortgage market." The group has also called for the eventual winding down of mortgage backers Fannie Mae and Freddie Mac, American Banker reported. Among the mortgage reforms touted by Reps. Jim Himes (D-Conn.), Gary Peters (D-Mich.) and others are a strong private market and maintaining 30-year fixed-rate mortgages.


RSS print
News Now LiveWire
Tech. advances don't dampen consumer #cybersecurity concerns #NewsNow http://t.co/HNn4Hojadv
10 hours ago
.@TheNCUA board unanimously voted today to designate board member Rick Metsger as vice chairman, effective immediately.
11 hours ago
We really want to hear from our readers. Please take the News Now survey: http://t.co/BYiQ5vr5Ob
12 hours ago
Advanced technologies don't quell cybersecurity fears #NewsNow http://t.co/ZJ20bimRvv
13 hours ago
.@CentralMaineCom reports #creditunions have issued thousands of new cards to proactively protect members from Home Depot data breach.
14 hours ago