Chances that Congress will move this year to wind down or transform Fannie Mae and Freddie Mac are dimming as lawmakers confront a split among Senate Democrats and a change at the regulator of the mortgage finance companies.
Federal Reserve policy makers have publicly debated whether to maintain their bond-buying pace since well before Janet Yellen was named last month to succeed Chairman Ben S. Bernanke. One voice has been missing: Yellen’s.
U.S. Senator Mike Crapo called President Barack Obama’s $447 billion jobs proposal discouraging, saying the administration is relying on unaffordable spending initiatives rather than the more fundamental policy changes needed to battle unemployment.
The U.S. Senate Banking Committee’s top Republican is asking the investigative arm of Congress to determine whether the Consumer Financial Protection Bureau is acting within its powers in a sweeping data collection effort.
The final version of the Volcker Rule was challenged in a lawsuit over claims that requiring small banks to divest their holdings in some collateralized debt obligations will cause them about $600 million in losses.
U.S. banking industry groups are pressing regulators to clarify accounting for certain securities under the Volcker Rule after lenders complained the Dodd-Frank Act measure may force them to take writedowns.
U.S. Senator Mike Crapo withdrew a plan to overhaul a Dodd-Frank Act derivatives measure after Democrats assured the Idaho Republican that they would work with him to address concerns about regulatory overreach.
Senator Mike Crapo said in an interview on Bloomberg Television’s ‘Political Capital with Al Hunt,” airing this weekend, that President Barack Obama’s $447 billion jobs proposal is discouraging because the administration is relying on unaffordable spending initiatives rather than more fundamental changes in economic policy needed to battle joblessness.