It’s looking that way.
Observers had expected a drawn-out battle over Senate Democrats’ plans to overhaul the nations financial regulations in favor of more oversight and consumer protection. The Senate bill is being marked up in the Banking Committee beginning at 5 p.m. today.
But sources on and off Capitol More…
The tax on the nation’s bailed-out banks, proposed by President Obama last week, has won the support of congressional liberals, and even some conservative commentators have jumped on board. But don’t try to convince Peter Morici. The University of Maryland business professor (and prominent voice on More…
Yesterday, it was revealed that officials at the New York Federal Reserve — then headed by now-Treasury Secretary Tim Geithner — asked AIG to keep quiet about tens of billions of dollars the insurance giant made to other Wall Street firms after AIG had received $85 billion in More…
Appearing on Wall Street today, President Obama accused some of the nation’s financial institutions of “misreading” the economy’s nascent recovery, and urged Congress to pass strict new banking regulations to prevent the industry’s “reckless behavior” from spurring another economic collapse.
We will not go back to the days
Just when you thought it was a tough time to be a banker comes this heartwarming tale of a bank executive effectively squatting in a $12 million Malibu foreclosure. From The Associated Press:
A Wells Fargo executive who oversees foreclosed properties hosted parties and spent long summer weekends
Here’s a fascinating exchange between Rep. Maxine Waters (D-Calif.), chairman of the House Financial Services subpanel on housing, and Mary Coffin, executive vice president of Wells Fargo‘s mortgage servicing division, during yesterday’s hearing to examine how effectively the administration’s voluntary mortgage modification program is preventing foreclosures. (More…
The percentage of homeowners either in foreclosure or late on a mortgage payment topped 13 percent nationwide in the second quarter of 2009, the Mortgage Bankers Association reported today. The figure is the highest since the MBA began keeping records 37 years ago.
And the trouble is expected More…
Even as some of Congress’ recently enacted credit card reforms go into effect today, a New York Times editorial reminds Washington that the banks are still cheating customers with overdraft fees charged to debit card users. These fees, which average $27 a More…
Less than two weeks after Goldman Sachs posted record quarterly profits, some congressional lawmakers are wondering if the Wall Street giant isn’t taking dangerous risks in its investment strategy — risks similar to those that led to the recent financial collapse.
In a letter today to Federal Reserve More…
Nearly three months after the Senate killed a House-passed proposal allowing homeowners to stave off foreclosure through bankruptcy, some upper-chamber Democrats are wondering if it isn’t time to revisit the issue.
Leaders of the Senate Judiciary Committee, not satisfied that mortgage lenders and servicers have done enough to More…
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