Do you have more questions than answers when it comes to Community Development? If so, attend this FREE* webinar featuring industry expert and President of GeoDataVision, Len Suzio.
New York Times (03/28/07) P. C2
In testimony before a House Financial Services subcommittee, Federal Deposit Insurance Corp. Chairman Sheila Bair urged lawmakers to pass national anti-predatory-lending legislation that would beef up existing rules and govern both federally and state-governed lenders. Bair is the first top regulator to call for such a measure. Meanwhile, Securities and Exchange Commission Chairman Christopher Cox told lawmakers at a House Appropriations subcommittee hearing that an enforcement unit has been established by the agency to determine whether some subprime lenders engaged in fraud by failing to make proper disclosures to investors of securities backed by such mortgages. Companies under investigation were not named.
The most recent data show delinquencies are low in states where house prices have risen the most in recent years. They are high in states where the local economy is weak and in those still recovering from hurricane Katrina.
Celent looks at strategies for selling to China-based banks.
The state of Wyoming has recently enacted a Data Security Bill, S.B.53. Similar to other legislation enacted on the state level addressing this issue, S.B. 53 obligates institutions to inform consumers of a breach if “misuse of personal identifying information ha occurred or is reasonably likely to occur.” The legislation also enables consumers to implement a “security freeze” of their credit report for a fee. “Victims of identity theft’ are provided the security freeze option for no charge. The effective date is July 1, 2007.
This proposed Statement on Subprime Mortgage Lending (Statement) discusses criteria and factors, including payment shock, that an institution should assess in determining a borrower’s ability to repay a subprime loan. The Statement also discusses consumer protection issues and practices, including reminders about some of the existing statutes, regulations, and guidance intended to protect consumers from unfair, deceptive, and other predatory practices. Finally, the Statement discusses the need for policies, procedures, and systems to assure that institutions’ subprime mortgage lending is conducted in a safe and sound manner.
The Office of Thrift Supervision (OTS) announced that it is publishing a final rule revising four areas of its Community Reinvestment Act (CRA) regulations to reestablish uniformity between its rules and those of the other federal banking agencies.
Banking and services chalked up a healthy number of mergers and acquisitions in 2006 totaling nearly US$20 billion. Celent expects 2007 will be an even bigger year for deals.
Celent conseille les societes de services financiers en matiere de externalisation du developpement des systemes centraux vers des fournisseurs de technologie indiens.
SRI is a booming market in both the US and Europe.
Strange things are occurring on the Mississippi Gulf Coast… c
Commonly known as the Beige Book, this report is published eight times per year. Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its District through reports from Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources. The Beige Book summarizes this information by District and sector.
The Atlanta Fed tracks the performance of the U.S. dollar relative to fifteen major currencies. Find the most recent index data and archives.
The Atlanta Fed tracks the performance of the U.S. dollar relative to fifteen major currencies. Find the most recent index data and archives.
Celent encourages banks to foray into accounts payable outsourcing and accounts receivable outsourcing, but with a targeted, incremental approach and third party help.
Featuring research published in February 2007.
Featuring research published in February 2007.
Online banking has reached the milestone of 40% of households, but attracting additional users will be a challenge.
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