Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (08/25/2010)
* WASHINGTON (8/26/10)--A Federal Reserve official this week hinted that increasing the financial literacy of potential homebuyers may do more to prevent future housing market and foreclosure-related troubles than strengthened regulations would. As reported in American Banker on Aug. 25, Federal Reserve Bank of Chicago President Charles Evans indicated that while governmental elimination of so-called "nonstandard" mortgage loan products would reduce the number of risky loans, eliminating those types of loans would result in fewer options for qualified, knowledgeable homebuyers. Rather, promoting greater financial literacy could “keep those who shouldn't be in exotic mortgages from getting them while leaving such mortgages available to the small group of people for whom they are appropriate," Evans said…


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
7 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
8 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
10 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
11 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
12 hours ago