Treasury Sees No Systemic Risk from Foreclosure Crisis

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Oct. 27, 2010. Widespread problems surrounding the processing of mortgage foreclosure documents do not appear to be creating a systemic risk to the broader financial system at this time, a Treasury Department official told the Congressional Oversight Panel Oct. 27, […]

Bernanke Says Regulators Cooperating on Mortgage Policy Review

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Oct. 25, 2010. Federal banking regulators are working together to complete an in-depth review of practices at the largest mortgage servicing operations, and preliminary results are expected by next month, Federal Reserve Board Chairman Ben Bernanke said Oct. 25, 2010. […]

Fannie, Freddie Funding Needs May Total $363 Billion

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Oct. 21, 2010. Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac may need from $221 billion to $363 billion in government funding to support them in the period up to 2013, according to projections from the Federal Housing Finance […]

FDIC Lowers Bank Failure Cost Estimates; Adopts DIF Plan

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Oct. 19, 2010. The Federal Deposit Insurance Corp. now expects the cost of bank failures in the period 2010 to 2014 to total about $52 billion, down from its estimate of $60 billion projected in June. At an Oct. 19, […]

TARP Watchdog Concerned by Treasury Use of Contractors

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Oct. 14, 2010. The Treasury Department’s extensive use of contractors in implementing the Troubled Asset Relief Program (TARP) creates “significant concerns” about transparency and potential conflicts of interest, the Congressional Oversight Panel said in its latest report “Examining Treasury’s Use […]

Minnesota Bank Challenges Dodd-Frank Interchange Fee Provision

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Oct. 13, 2010. Minnesota-based TCF National Bank has filed a lawsuit challenging the constitutionality of a provision within the Dodd-Frank Wall Street Reform and Consumer Protection Act that attempts to restrict interchange fees that debit card issuers can charge merchants. […]

Multistate Group Formed to Review Mortgage Foreclosure Process

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Oct. 13, 2010. Attorneys General from all 50 states have formed a bipartisan multistate group to investigate whether or not individual mortgage servicers improperly submitted affidavits or other documents in support of foreclosures. Iowa Attorney General Tom Miller, who is […]

How to Control Defense Litigation Costs under FDCPA

THIS EVENT HAS BEEN ARCHIVED AND IS AVAILABLE ON-DEMAND   Date: Wednesday, October 13 Time: 12:00 PM EDT  / 11:00 AM CDT / 10:00 AM MDT / 9:00 AM PDT Duration: 60 minutes Jay Winston, lead author of The Complete Guide to Credit and Collection will discuss latest strategies for reducing defense litigation costs and […]

SEC Removes Credit Rating Agency Exemption From Regulation FD

The SEC has amended Regulation FD to remove an exemption for disclosures made to nationally recognized statistical rating organizations and credit rating agencies for the purpose of determining or monitoring credit ratings (Rel. No. 33-9146, September 29, 2010). The amendment was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The amendment removed […]

White House Warns of “Downsides” to Nationwide Foreclosure Moratorium

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Oct. 12, 2010. The White House said it supports steps that state attorneys general and federal regulators are taking to get to the bottom of the housing foreclosure issue, but warned of “downsides” to imposing a nationwide foreclosure freeze. “We […]