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August 18, 2008
Cuomo Continues Auction-Rate Securities Campaign
New York Attorney General Andrew Cuomo has warned the banks and securities firms that his investigation into their sale of auction-rate securities will continue.
August 11, 2008
ABA Resists New FCA Powers
The bankers’ trade group has filed a comment letter opposing legislation giving FCA new investment powers.
August 04, 2008
SEC Extends Naked Short Sale Rule
The SEC extended to Aug. 12 its order to bar naked short selling in the securities of financial institutions to which the Federal Reserve has granted temporary access to liquidity facilities on an emergency basis.
July 14, 2008
Rating Agencies Rate Low
Fitch, Moody’s, and Standard and Poor’s need to take “remedial action” to provide meaningful ratings and the necessary levels of disclosure to investors, the SEC said.
May 26, 2008
FACT Act Fixed
Congress acted quickly to clarify a provision that threatened bankruptcy for many card issuers.
May 19, 2008
President Signs Student Loan Bill
The emergency measure is designed to assure liquidity in the student loan market.
The Bloan Wars
The Farm Credit Administration proposes new investment powers for FCS institutions.
May 05, 2008
Cuomo Settlement Panned
Lenders and other real estate settlement service providers are bitterly unhappy with New York State Attorney General Andrew Cuomo’s efforts to regulate real estate appraisers.
April 21, 2008
Student Loan Crisis Looms
Student loans are an unexpected casualty of the current financial market turmoil.
February 18, 2008
ILC Legislation Advance in Senate
A Senate bill to close the industrial loan company loophole is more controversial than its House counterpart is.
February 11, 2008
Treasury to Propose Regulatory Changes Soon
It’s an election year, the President’s term is nearly up, Congress is distracted by economic issues — it’s an odd time to propose reorganizing the financial regulatory agencies, but that’s what the Treasury is going to do.
ILC Vote Looms
Now that Wal-Mart has withdrawn its application, the heat is off with regard to industrial loan company legislation. Nonetheless, the Senate Banking Committee expects to take a vote on the measure soon.
January 21, 2008
FHFB Encourages Affordable Housing Program
The FHFB develops an Affordable Housing pilot program.
January 14, 2008
Fannie Mae CEO Sees Tough Times Ahead
“Happy New Year — I hope,” says Fannie Mae CEO Daniel Mudd.
Tougher Rules for Servicemember Borrowers?
Banks largely dodged a bullet when the Defense Department first issued rules to protect servicemembers from abusive lenders. Now DoD may reopen the whole issue.
January 07, 2008
Super SIV Ended
The private lending program intended to relieve the credit crunch has died from lack of interest.
October 01, 2007
Agencies Remind Banks of New DoD Lending Rule
Additional protections now apply to certain loans if the borrower is in the military or a military dependant.
July 30, 2007
FTC Reviews Credit-Based Insurance Scores
FTC finds no readily available alternative to credit-based scores.
July 23, 2007
Fannie, Freddie Change Rules
Fannie Mae and Freddie Mac are changing their criteria for purchasing nontraditional mortgages.
July 09, 2007
Service Member Protection Rules Panned
No one is entirely happy with the proposed rules to implement the service members’ protection law.
July 02, 2007
Paulson Plans Reforms
The Treasury Secretary has outlined a second part of his capital markets reform program.
June 25, 2007
Wal-Mart to Expand Financial Services
Banks blocked Wal-Mart’s efforts to obtain an industrial bank charter, but the big retailer isn’t going away. It’s jumping into banks’ business in a big way.
May 14, 2007
Student Loan Scandal Continues
Were the monitors wearing blinders?
May 07, 2007
ILC Bill Advances
A House committee has approved legislation barring commercial firms from acquiring an industrial loan company.
April 30, 2007
Student Loan Scandal Persists
New York State Attorney General Andrew Cuomo continued his crusade against student-loan corruption.
