Monthly Archives: October 2010

Roundtable Encourages Fed-CFPB Coordination

According to CNN Money, the Consumer Financial Protection Board, the Treasury Department and the Federal Reserve are working together to speed the new financial rulemaking mandated under Dodd-Frank.

The Financial Services Roundtable supports this joint effort. We believe that all the agencies should work together and should be united on these common goals. Continue reading

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The short story on short sales: Industry working hard to prevent foreclosures

Paul Krugman is simply wrong when he says that the mortgage lending industry doesn’t want to do short sales. Continue reading

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HAMP helped prevent foreclosures

Did the efforts of the Home Affordable Modification Program help homeowners regain financial stability and rally private markets to prevent foreclosures?

According to those who testified before the Congressional Oversight Panel, the answer is yes. Continue reading

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The End of Free Checking?

“The decline of free checking is the first of many middle-class perks likely to vanish in the rush to regulate.”

That was the conlcusion of John Berlau, director of the Center for Investors and Entrepreneurs at the Competitive Enterprise Institute. Berlau’s recent oped in the Wall Street Journal lamented the loss of certain conveniences that banks have sacrificed to comply with new financial legislation and regulations. Continue reading

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Steve Bartlett: Setting the Record Straight on Mortgages

The foreclosure freeze has sent a scare through the housing market and has become a key political issue. Steve Bartlett, CEO of the Financial Services Roundtable, discusses the issue with CNBC on October 11, 2010.

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Steve Bartlett: Update on Recent Events in Mortgage Industry

Steve Bartlett, President and CEO of the Financial Services Roundtable, recently updated member institutions about current events in the mortgage sector.

Much has happened in the past ten days in the mortgage and foreclosure world. While things are not as bad as the headlines, there remain some risks. Here is a quick summary. Continue reading

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Fast Facts on Dodd-Frank Rulemaking

Perhaps the most salient feature of the Dodd-Frank Act is the number of rulemakings required in a short period of time. The industry and regulators alike will need to coordinate to give adequate consideration to each rule and its impact on the economy and financial services sector. Continue reading

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Fast Facts on the Foreclosure Process

It is important to review the facts about the foreclosure process in the midst of recent reports about what the industry is doing.  FACT:  Homeowners who cannot afford their mortgage payments have several options to deal with the situation, such … Continue reading

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Fast Facts on Life Insurance – Retained Asset Accounts

Recent media and Congressional attention has raised many myths about Retained Asset Accounts. FACT:  Retained Asset Accounts were created in the 1980s to give grieving family members more time to decide what to do with life insurance benefits. FACT:  Beneficiaries … Continue reading

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Fast Facts on Expiring Tax Cuts

Unless Congress acts before the end of 2010, federal taxes will increase substantially. Numerous proposals have been introduced to extend portions of the tax cuts. FACT: Based on a simulation of the Moody’s Analytics macroeconomic model, an across-the-board tax increase … Continue reading

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