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“On the 4th anniversary of the passage of the Dodd-Frank law and nearly 6 years since the financial collapse of 2008, American voters still distrust Wall Street and big banks and strongly support tough financial regulation of them, according to a new national survey of likely 2014 voters. The result is a strong majority of voters supporting stricter regulations of the …
Becky Yerak and Kristin Samuelson, Chicago Tribune reporters: “A report released Wednesday by Barclays notes that 15.5 percent of outstanding student loan debt is owed by people 50 and older, including 4.2 percent held by people 60 and older. Those are staggering amounts given that outstanding student loan debt has surpassed $1 trillion, exceeding the …
“Empowering people to take more control over their economic lives is essential to our mission. That’s why we’ve made financial education a critical component of our work. Our financial education strategy focuses on providing information and tools to help consumers navigate financial choices, and integrating financial capability training into other programs and services where consumers …
Mapping and Sizing the U.S. Repo Market – Adam Copeland, Isaac Davis, Eric LeSueur, and Antoine Martin “The U.S. repurchase agreement (repo) market is a large financial market where participants effectively provide collateralized loans to one another. This market played a central role in the recent financial crisis; for example, both Bear Stearns and Lehman Brothers experienced problems borrowing …
“The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) on Wednesday announced the finalization of a technical correction to the definition of “eligible guarantee” in the agencies’ risk-based capital rules. In April, the agencies proposed a rule to correct the definition of eligible guarantee by …
BloombergBusinessWeek – Mike Riley: “In October 2010, a Federal Bureau of Investigation system monitoring U.S. Internet traffic picked up an alert. The signal was coming from Nasdaq. It looked like malware had snuck into the company’s central servers. There were indications that the intruder was not a kid somewhere, but the intelligence agency of another country. …
“Summary of Commentary on Current Economic Conditions by Federal Reserve District – Prepared at the Federal Reserve Bank of Kansas City and based on information collected before July 7, 2014. This document summarizes comments received from businesses and other contacts outside the Federal Reserve and is not a commentary on the views of Federal Reserve officials. All …
Privacy Protection for Customer Financial Information – M. Maureen Murphy, Legislative Attorney. July 14, 2014 “One of the functions transferred to the Consumer Financial Protection Bureau (CFPB) under P.L. 111-203, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), is authority to issue regulations and take enforcement actions under the two major federal statutes that specify conditions under which customer …
“The Bipartisan Policy Center’s (BPC) Financial Regulatory Reform Initiative today released three top ten lists highlighting key areas of progress made since the passage of the Dodd-Frank Act four years ago, along with 20 proposed action items for regulators and Congress to address the significant challenges that remain. These include: Top Ten Areas Where Dodd-Frank Made Progress Top Ten …
Simpler and Less Volatile Capital Calculations — Will Impact Capital Planning, M&A and Investment Strategy. Thomas W. Killian, Principal – Sandler ONeill “After receiving more than 2,500 comment letters from U.S. banks and other interested parties, raising over 400 different concerns, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the …
“With Americans increasingly having to borrow to pay for college, a new report from the Institute for College Access & Success (TICAS) finds that nearly one million community college students cannot get federal student loans because their school chooses not to offer them. Without access to federal student loans, students may not be able to …
“Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, causing its debt to soar. The total amount of federal debt held by the public is now equivalent to about 74 percent of the economy’s annual output, or gross domestic product (GDP)—a higher percentage …
