(Source: The New York Times By GRETCHEN MORGENSON) – Eric T. Schneiderman, the attorney general of New York, has come under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious [...]
Aug. 22 (Source: Bloomberg) – The U.S. Federal Reserve mounted an unprecedented campaign to head off a depression by providing as much as $1.2 trillion in public money to banks and other companies from August 2007 through April 2010, exceeding [...]
(Source: Bloomberg By Phil Kunto) – To rank companies by how much they borrowed from the U.S. Federal Reserve during the financial crisis, Bloomberg News examined data the central bank was forced to release about seven programs.
(Source: CBS News By Christopher Caldwell) – President Obama’s nomination of former Ohio attorney general Richard Cordray to head the new Consumer Financial Protection Bureau may finish off the brief political career of the most eccentric and poorly understood figure [...]
(Source: LA Times Blogs) – California will seek $5 billion in short-term loans from banks and other financial institutions next week, hoping to avoid the risk of being locked out of the markets if Congress fails to raise the federal [...]
(Source: American Indapendent By Mikhail Zinshteyn) – Two days after the Government Accountability Office’s one-time audit examining Federal Reserve activities during the economic downturn was published, Sen. Bernie Sanders (I-Vt.) called its lending decisions, “socialism for the rich and rugged.”
(Source: Bloomberg By Carter Dougherty) – Mark Seifert recalls being impressed when Richard Cordray, then the Ohio state treasurer, walked into the offices of his Cleveland activist group one day in August 2007.
(Source: FT By Peter Spiegel and Stanley Pignal) – The head of the European Central Bank placed a major obstacle on the path to a new agreement on a Greek financial bail-out, saying the bank could not accept defaulted bonds [...]
(Source: Think Progress By Lee Fang) – Previewing a hearing he’s holding today on the new Consumer Financial Protection Bureau, House Oversight Committee Chairman Darrell Issa (R-CA) told Fox Business yesterday that he plans to grill Professor Elizabeth Warren, who [...]
(Source: NY Times) – For years and much to their frustration, big banks have paid hundreds of millions of dollars to a tiny Texas company to use a patented system for processing digital copies of checks, making Claudio Ballard, the [...]
WASHINGTON -(Source: nasdaq By Alan Zibel)- The Obama administration is taking the first steps to punish mortgage companies for poor performance in its loan assistance program, withholding incentive payments for three of the nation’s largest banks.
(Source: Reuters) – The government’s pension guarantee agency has sued Morgan Stanley for $25 million over its selection of money-losing mortgage bonds as investments for the New York hospital system.
(Source: orlando sentinel By Mary Shanklin) – Ministers from Orlando and other parts of Florida intend to hold a prayer vigil for Florida Attorney General Pam Bondi on Thursday in hopes she will “stop siding with the Wall Street banks” [...]
(Source: Chicago Tribune) – It’s been a pretty good week for the Treasury Department’s bailout program.
May 20 (Source: The Philadelphia Inquirer By Alan J. Heavens) – The federal government on Thursday began testing simplified disclosure forms designed to help borrowers find the mortgage that’s right for them.
(Source: msnbc By John W. Schoen) – Almost a year after Congress created a new federal agency to protect consumers from shady lending practices, there is a move afoot on Capitol Hill to clip its wings before it takes flight.
May 12–ROME (Source: Adnkronos International) – An Italian court ruled on Thursday turned down a request for house arrest made by Italian dairy giant Parmalat’s jailed former founder and ex-CEO Calisto Tanzi. The 72-year-old last week began an eight year [...]
(CBS News: By Lucy Madison) – House Speaker John Boehner is “skeptical” there is “anything the government can do” to alleviate America’s housing crisis – arguing that, ultimately, “you’re not gonna have more buyers until the economy improves.”
(Source: By Mary Shanklin, Orlando Sentinel) – The attorney general of Florida — a state where almost half of all mortgaged homes are underwater — opposes efforts that would force the nation’s five largest mortgage servicers to reduce the principal [...]
(Source: Money Marketing) – The European Mortgage Federation says the European Commission should leave individual member states to formulate their own mortgage regulation.
May 12–CHARLESTON, W.Va. (Source: The Charleston Gazette By Eric Eyre) – A state agency modified a $2 million loan agreement with the South Charleston-based Mid-Atlantic Technology Research & Innovation Center Wednesday, after the research group was unable to meet a [...]
(Source: BBC Monitoring Asia Pacific) – Text of report by Kang Mi Jin headlined “Loans creating circle of poverty” published by South Korean newspaper The Daily NK website on 16 May
(Source: mauinow By Lisa Teichner) – Governor Neil Abercrombie signed Senate Bill 651 last week, which amends the Hawaii Revised Statutes Chapter 487, Section 667 as of Thursday, May 5, 2011. The bill/new law is lengthy (we’re told approximately 700 [...]
(By CNNMoney Senior Writer Jennifer Liberto) – Calling housing “the biggest headwind on the economy right now,” Obama broached two relatively new ideas for the White House: Longer-term mortgage modifications and principal reductions “in some cases.”
(Source: Money Marketing) – The Government has called on the mortgage market to fight the European Commission’s mortgage credit directive and “kill it dead”.
(Source: Record, The; Bergen County, N.J. By KATHLEEN LYNN) – New Jersey homeowners who have lost their jobs and are struggling to pay their mortgages can get no-interest loans from the state under a program announced Monday.
May 12 (Source: The Palm Beach Post By Laura Green) – If Florida homeowners fall victim to a hurricane this summer, they may end up paying for some repairs out of pocket, under provisions in a property insurance bill that [...]
PHOENIX -(Source: KPHO Elizabeth Erwin) – An amendment would have helped people in foreclosure get the information many say they deserve, but at the last minute, a lawmaker decided to drop it.
May 10 (Source: Chattanooga Times/Free Press By Ellis Smith) – Walter Perry, district director for the U.S. Small Business Administration, said today that homeowners and business owners hit by the storm should apply immediately for disaster loans.
(Source: PRNewswire) – The leader of the opposition in the UK, Ed Miliband, has said he believes that the rising cost of living is causing Britain to head towards a “crisis.” With the coalition government rolling out its programme of [...]
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