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Inside Washington (09/26/2008)
* WASHINGTON (9/29/08)--On Thursday, Congressional leaders said they had reached a deal on the Treasury’s $700 billion proposal to bail out banks, but details of the plan were not announced and Republicans had not yet indicated if they would sign on (American Banker Sept. 25). Rep. Spencer Bachus (R-Ala.) said there was no agreement on the plan except to continue discussions. Sen. Richard Shelby (R-Ala.) agreed, saying there were a lot of differing opinions. Congress is not prepared to give $700 billion, but would give $250 billion with another $100 billion down the road, Sen. Charles Schumer (D-N.Y.) said, speaking on behalf of lawmakers who noted they had reached an agreement. The plan is good enough to stabilize the markets, and Republicans can support it, according to Sen. Robert Bennett (R-Utah) ... * WASHINGTON (9/29/08)--Federal regulators have proposed requiring institutions to submit more data on residential construction loans and structured investment products in call reports (American Banker Sept. 26). The proposed changes were published Tuesday in the Federal Register. Comments will be taken until Nov. 24. More changes could be down the road when the Treasury’s $700 billion proposal to bail out banks goes into effect, said a Federal Deposit Insurance Corp. (FDIC) official ...


* WASHINGTON (9/29/08)--National Credit Union Administration Chairman Michael Fryzel (center) met with delegations from the Wisconsin, Georgia, Ohio and Oregon credit union leagues. He encouraged credit union professionals and volunteers to get involved in the governmental affairs process. “It is crucial that lawmakers know the credit union story and by coming to Washington and conveying what your credit union does for its members,” he said. “I commend you on this outreach." (Photo provided by the National Credit Union Administration) ...


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