Dodd-Frank Should Not Be Repealed: House Hearing Consensus
While they had many complaints about the Dodd-Frank Act, all of the financial services representatives testifying at a House Financial Services hearing stopped short of saying the law needs to be repealed.
What’s Behind the U.S. Suing Big Banks Over Mortgage-Backed Securities?
More bank stock declines and less lending could be in store as financial institutions face another massive round of lawsuits. The Federal Housing Finance Agency sued 17 banks on Sept. 2, alleging that the financial institutions committed securities violations in the lead-up to the recent financial crisis.
House Financial Services Releases List of Democrats to Fill Six Subcommittees
Rep. Barney Frank, D-Mass., Ranking Member of the House Financial Services Committee, has announced the Committee’s six subcommittee Ranking Members along with the Democratic members of those committees.
Predatory Lenders Targeted by New Legislation
In response to financial market disarray and dire straits for many homeowners caused by the structured mortgage securitization frenzy of the past several years, three Congressional Representatives have introduced legislation which would protect borrowers from predatory mortgage lending practices, and reform the mortgage origination and securitization process.