Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (10/17/2008)
* WASHINGTON (10/20/08)--The Treasury may have wide powers to stabilize the market, according to observers. A provision in the $700 billion rescue bill gives the Treasury the ability to invest in banks directly, but the provision also provides for other options--such as rewriting mortgages, helping the auto industry and securing credit-default swaps (American Banker Oct. 17). The provision is “extraordinarily broad,” said Michael Barr, law professor at the University of Michigan and former Treasury official. Unlike other provisions in the bailout bill, which specify how the Treasury can purchase whole loans, securities or assets, there are no specifics on broad equity investments. The Treasury also could purchase student, auto, commercial construction and credit card loans as well ... * WASHINGTON (10/20/08)--Critics at a Senate Banking Committee hearing criticized the Federal Reserve Board, saying that it did not act quickly enough to stop abusive mortgage lending (American Banker Oct. 17). The crisis was preventable four or five years ago, said Senate Banking Committee Chairman Christopher Dodd (D-Conn.). New mortgage rules were finalized by the Fed earlier this year ...


RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
1 Day ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
1 Day ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
1 Day ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
1 Day ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
1 Day ago