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Washington
Inside Washington (10/15/2008)
* WASHINGTON (10/16/08)--Sen. Christopher Dodd (D-Conn.) announced that he intends to incorporate homeownership preservation, anti-predatory lending practices, credit card and bankruptcy reform into a legislative package to help the economy. In a statement on his website, Dodd said he supports the Bush Administration’s plan to use the authority granted by the Emergency Economic Stabilization Act passed last month by Congress. The legislation expands the options federal agencies can use to intervene in the economy, including injecting liquidity into the nation’s banks. Dodd also met with Treasury Secretary Henry Paulson to discuss the plan’s details ... * WASHINGTON (10/16/08)--The version of Basel II capital rules finalized this year may prevent competitive inequities that could hurt domestic banks, according to a Government Accountability Office report (American Banker Oct. 15). The report also said regulators have not yet addressed “areas of uncertainty” that could lead to competitive implications. Though the rule allows core banks to apply for exemptions, the criteria for the exemptions is not defined. Regulators need to present more details about what they will look at in a Basel II study of effects, the report added ....


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