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Results: 1-10 of 33

Fed Chairman Bernanke and former Fed Chairman Volcker send letters to Senator Dodd opposing amendment permitting GAO to audit the Fed
  • Alston & Bird LLP
  • USA
  • May 7 2010

Yesterday, current Federal Reserve Chairman Ben Bernanke and former Federal Reserve Chairman Paul Volcker sent separate letters to Senator Christopher Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, expressing their opposition to proposed amendments to the Senate financial regulatory reform bill that would permit the Government Accountability Office (GAO) to audit the Federal Reserve


Federal Reserve schedules small-value auctions under Term Deposit Facility
  • Alston & Bird LLP
  • USA
  • May 28 2010

The Federal Reserve announced today that, through its Term Deposit Facility, it had scheduled three small-value auctions of term deposits over the next two months, the structure of which the Federal Reserve authorized two weeks ago


House Financial Services Committee holds mark-up on Consumer Financial Protection Agency Act
  • Alston & Bird LLP
  • USA
  • October 16 2009

Following the passage of the OTC Derivatives Markets Act of 2009, the House Financial Services Committee began the mark-up of the Consumer Financial Protection Agency Act of 2009, H.R. 3126, which was circulated by Chairman Frank late last month


Obama administration hosts Conference on the Future of Housing Finance
  • Alston & Bird LLP
  • USA
  • August 18 2010

As previously announced, the Obama administration yesterday held a "Conference on the Future of Housing Finance" to receive input from a diverse group of experts, including citizen advocacy groups, economists, investors, market researchers, originators, securitizers, servicers, and private mortgage insurers, on critical issues surrounding housing finance reform


SEC charges Citigroup and two executives in connection with misleading information regarding exposure to subprime assets
  • Alston & Bird LLP
  • USA
  • July 30 2010

Yesterday, the Securities and Exchange Commission ("SEC") charged Citigroup with misleading investors concerning the company's exposure to subprime mortgage-related assets


Federal banking agencies issue report to congressional committees on differences in accounting and capital standards
  • Alston & Bird LLP
  • USA
  • August 9 2010

Today, the federal banking agencies, including the OCC, Federal Reserve, FDIC and OTS issued their joint annual report to the House Financial Services Committee and the Senate Banking Committee describing the differences between the accounting and capital standards used by the agencies


Multiple state attorneys general initiate probe of foreclosure practices of Ally Financial
  • Alston & Bird LLP
  • USA
  • September 28 2010

Various state attorneys general have initiated probes of the foreclosure practices of Ally Financial Inc.’s GMAC mortgage unit after Ally announced last week that it had not instituted a moratorium on residential foreclosures in 23 states, but rather that it had suspended evictions and post-foreclosure closings in the 23 states while it conducted a review of defective foreclosure practices


Financial Crisis Inquiry Commission holds field hearing in Miami, Florida
  • Alston & Bird LLP
  • USA
  • September 21 2010

Today, the Financial Crisis Inquiry Commission (FCIC) held the third in a series of four field hearings, entitled "The Impact of the Financial Crisis - Miami, Florida" to examine the role and impact of mortgage fraud in Miami


Latest developments in the foreclosure documentation crisis
  • Alston & Bird LLP
  • USA
  • October 19 2010

Various developments have occurred this week relating to the heightened concern over defective foreclosure processes and the moratoriums on foreclosure proceedings instituted by certain financial services companies, including Bank of America and GMAC, a subsidiary of Ally Financial


Bank of the Ozarks assumes all of the deposits of Woodlands Bank
  • Alston & Bird LLP
  • USA
  • July 19 2010

On Friday, the Office of Thrift Supervision closed Woodlands Bank, headquartered in Bluffton, South Carolina, and appointed the FDIC as receiver for the bank