by Moe Bedard
Press Release from the FDIC
It is truly a sign of unusual economic times when a group of high tech leaders asks a bank regulator of all people to speak to them.
But bank regulation – or perhaps I should say weaknesses and holes in our bank regulatory structure — lie at the heart of our current [...]
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by Moe Bedard
WASHINGTON — The pace of loan modifications on adjustable subprime mortgages is lagging, which could prompt regulatory action on the mortgage industry, U.S. Federal Deposit Insurance Corp. Chairman Sheila Bair warned Thursday.
“Unfortunately, at this point, the available information seems to show that foreclosures continue at an unacceptably high level while true loan modifications are lagging,” [...]
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