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News Now

Washington
Inside Washington (08/22/2012)
  • WASHINGTON (8/23/12)--Legislation backed by Democrats that would help more Americans to refinance Freddie Mac and Fannie Mae mortgages has stalled in the Senate. Republicans in the Senate Banking Committee have sought to add amendments to the bill that would address the reform of Fannie Mae, Freddie Mac and the Federal Housing Administration, said the American Banker (Aug. 22). Another amendment would provide lenders a legal safe harbor if they meet the terms of a "qualified mortgage." The amendments are "outside the scope" of the refinancing bill, according to a senior Senate Democratic aide. The standoff could prevent President Barack Obama from achieving one of his top economic agenda items for 2012 …
  • WASHINGTON (8/23/12)--The Federal Deposit Insurance Corp. will release its Quarterly Banking Profile for the second quarter at 10 a.m. on Tuesday. The profile is a quarterly update on earnings, loan growth and other indicators for the entire banking industry (American Banker Aug. 22). In the first quarter, banks and thrifts reported $63 billion in noninterest income, an 8% increase from a year earlier. Net income was $35.3 billion, with loan volume decreasing 0.8%, compared with the previous quarter. Net operating revenue rose 3% to $170 billion …


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