Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (07/17/2009)
* WASHINGTON (7/20/09)—Sen. Christopher Dodd (D-Conn.) called it disgraceful that his Senate Banking Committee had to hold yet another hearing on the progress of government efforts to promote loan modifications intended to stave of mortgage foreclosure. Both Democrats and Republicans on the panel agreed. However, officials from the Departments of Treasury and Housing and Housing and Urban development reminded that the housing crisis was years in the making and the Obama loan modification program is just a few months old. Witness Herb Allison, Treasury's assistant secretary for financial stability, said 160,000 trial modifications have begun under its home foreclosure prevention program. (American Banker July 17)… * WASHINGTON (7/20/09)—Former Treasury Secretary Henry Paulson was unapologetic before the House Financial Services Committee as he acknowledged his agency pushed Bank of America’s chief executive Ken Lewis to agree to a merger with Merrill Lynch—or lose his job. Paulson said he and Federal Reserve Board Chairman Ben Bernanke were concerned that if B of A backed out of the deal, it could cause a collapse of the financial system, However, critics have questioned whether a bank chief executive's job should be used by the government to accomplish a policy goal. (American Banker July 17)…


RSS print
News Now LiveWire
.@TheNCUA open board meeting starts at 10 a.m. ET tomorrow. It is board member J. Mark McWatters' first. Watch @NewsNowLiveWire
13 hours ago
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
14 hours ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
17 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
17 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
17 hours ago