Bachus Urges Regulators to Minimize Volcker Rule Costs

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Nov. 4, 2010. Rep. Spencer Bachus, R-Ala., currently the ranking member of House Financial Services Committee, is urging regulators to implement the Volcker Rule in such a way as to minimize its “substantial and very real costs, given that the […]

Fed to Look for More Economic Stimulus

By Richard Roth, J.D., Editor, the CCH Federal Banking Law Reporter, CCH Bank Compliance Guide and Bank Digest, Nov. 3, 2010. The Federal Open Market Committee has decided to attempt to stimulate the economy by buying up to $600 billion of Treasury securities by the end of the second quarter of next year. It also […]

Warren Pledges Transparency, Tough Enforcement for CFPB

By James Hamilton, J.D., LL.M., Principal Analyst, CCH Federal Securities Law Reporter; and CCH Derivatives Regulation Law Reporter, Nov. 2, 2010. Assistant to the President Elizabeth Warren said that the new Bureau of Consumer Financial Protection created by the Dodd-Frank Act will operate with transparency and will strictly enforce its regulations. In remarks at the […]

Benefits Update – November 2010

From the editors of CCH’s BENE and BAN products, here are hot topics from recent Employee Benefits Management Directions newsletters as well as recent explanatory updates in Employee Benefits Management. Also included are recent explanatory updates to the Benefits Answers Now product. If you have any comments/suggestions concerning the information provided or the format used, […]

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. […]