Monthly Archives: February 2011

Time for GSE Reform

 Over the course of the financial crisis, the Treasury Department injected $134 billion of taxpayer dollars into Fannie Mae and Freddie Mac to keep them solvent so they could honor their debt and guarantees.   This level of assistance is unsustainable. In … Continue reading

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Top 20 Takeaways from the Dodd-Frank Act, #15

Regulation is only part of the process of rebuilding our financial system and our economy. Outside the scope of the Dodd Frank Act, there are other forces occurring simultaneously: #15 Outside Directors “Huge Responsibility, Huge Liability”   Now listen carefully … Continue reading

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Top 20 Takeaways from the Dodd-Frank Act. #14

#14. Resolution Authority “End of Too Big Too Fail” This one also is still in the TBD category. During the last crisis, the statutory authority to provide an orderly closing to a large, complex, nonbank financial institution was somewhere between … Continue reading

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Possible Monetary Caps on Debit Purchases

Are you one of the 520 million people in the United States who  use a debit card? I’ve written extensively over the past month about the changes to debit being mulled over by the Federal Reserve.  Here is another take from the NY … Continue reading

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FSOC divides non-bank financial firms into four categories

The Dodd-Frank law created the new Financial Stability Oversight Council (FSOC) to designate ”systemically important financial institutions” or “SIFIs” that could pose a threat to financial markets and the US economy.  Once designated, these firms will be overseen by the Federal Reserve … Continue reading

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Debit Card Hearing: Delay, Delay, Delay

The theme of today’s debit card hearing was “Delay, Delay, Delay.” The great majority of members on the House Financial Services Committee were in agreement that the Fed’s proposed rules would benefit greatly from additional time, research, and engagement with … Continue reading

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Reps. Royce and Himes Lead Bipartisan Letter Calling on the President to Name Critical Insurance Positions

Reps. Royce and Himes sent a letter to the President encouraging him to fill two positions created by the Dodd-Frank Act: the Director of the Federal Insurance Office and the insurance expert on the Financial Stability Oversight Council. These positions were … Continue reading

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The Consequences of Debit Interchange Price Fixing

“The Consequences of Debit Interchange Price Fixing , ” a financial services industry collaboration, is a white paper  that outlines recommendations and proposals to keep the economy, consumers ,  and business unharmed and competitive, as well as identifies the pitfalls of the current regulation being … Continue reading

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Top 20 Takeaways from the Dodd-Frank Act. #13

#13. Derivatives  “Big Unknown” This could be biggest hit on the industry, and it is the least understood. There are just over 40 rules that have to be made by July concerning derivatives.  It is still unknown which derivatives will … Continue reading

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Top 20 Takeaways from the Dodd-Frank Act. #12

#12. Corporate Governance “Shareholders Rule” Under Dodd-Frank, shareholders will get a non-binding vote on executive compensation, golden parachutes, and proxy access.   Additionally, the Federal Reserve and government agencies are given power to comment on your compensation plans – and when … Continue reading

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