Geithner Urges Quick Resolution to Mortgage Servicing Settlement

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, March 15, 2011. Treasury Secretary Tim Geithner called for a quick resolution to negotiations on a proposed global mortgage servicing settlement involving mortgage servicers, federal agencies and state attorneys general. “I think all parties have a really strong interest in […]

Geithner Urges Quick Resolution to Mortgage Servicing Settlement

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, March 15, 2011. Treasury Secretary Tim Geithner called for a quick resolution to negotiations on a proposed global mortgage servicing settlement involving mortgage servicers, federal agencies and state attorneys general. “I think all parties have a really strong interest in […]

Fed Nominee Diamond Faces Continued Opposition from Shelby

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, March 8, 2011. Peter Diamond, a Nobel Prize-winning economist and Massachusetts Institute of Technology professor who has been nominated as a member of the Federal Reserve Board of Governors, continues to face opposition from Senate Banking Committee Ranking Member Sen. […]

Financial Services Committee Votes to End Foreclosure Programs

By Serena Lynn, Editor, the CCH Federal Banking Law Reporter and Bank Digest, March 4, 2011. The Financial Services Committee has approved bills that would terminate the FHA Refinance Program and the Emergency Mortgage Relief Program. “Continued government intervention and questionable use of taxpayer dollars only prolongs our current economic crisis and ensures that the […]

Treasury Says Dodd-Frank Systemic Risk Tools Need Time to Work

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, March 4, 2011. The Treasury Department rebuffed accusations that the government will lack courage in future to use the new tools provided by the Dodd-Frank Act allowing it to wind down systemically risky financial institutions. At the final hearing of […]

Fed’s Hoenig Says Systemic Risk “Even Worse” Post-Crisis

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Feb. 24, 2011. The soundness of the largest financial institutions, and the systemic risks they continue to pose, is “even worse” than before the financial crisis, Federal Reserve Bank of Kansas City President Thomas Hoenig said. “As well-intentioned as the […]

Bair Urges Banks to “Get Back To Basics” and Lend

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Feb. 23, 2011. The long-term health of the banking industry and the economy depends on a responsible expansion of bank lending, Federal Deposit Insurance Corp. Chairman Sheila Bair said Feb. 23, 2011. Bair urged banks to “get back to basics […]