Items Tagged with 'Federal Reserve Board'

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Wells Fargo fails living wills test; slapped with even more sanctions

Another day of bad news for megabank
Lately, it seems that Wells Fargo can’t even go a few days without another round of bad news. And Tuesday was another one of those bad-news days. Now, Wells Fargo is in trouble as the Federal Deposit Insurance Corp. and the Federal Reserve Board announced that the bank failed some of its “living will” tests and will be subject to business restrictions until the failures are remedied.
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Fed continues to send signals on looming interest rate hike

So, what does it mean for the mortgage market?
It appears that the Federal Reserve is continuing its tact of jumping through as many hoops as possible to prepare the market for the potential of another rate hike. So, what happens to the mortgage market whenever the Fed actually does raise rates? Here are a few insights.
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Federal Reserve: Mortgage debt rises to 4-year high

Mortgage debt increased by $120 billion in first quarter
The amount of money that Americans owe to mortgage lenders rose to the highest level in more than four years during the first quarter, according to a new report from the Federal Reserve Bank of New York. Click through to read the full details.
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Trump: If I win, Yellen's days at the Fed will be numbered

Republican frontrunner tells Fortune he'd replace Fed Chair
If Republican frontrunner Donald Trump secures a victory in November’s election and is sworn in on Jan. 20, 2017 as this country's next president, Federal Reserve Chair Janet Yellen may shortly find herself out of a job.
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Five major banks fail bailout test, would need taxpayer money in crisis

Bank of America, JPMorgan Chase, Wells Fargo, others must improve 'living wills'
Five of the nation’s largest banks are not prepared for a financial crisis and would need taxpayer bailouts, the Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation announced Wednesday.
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Bernie Sanders: Fed's decision to raise interest rates is a disaster

Democratic Presidential hopeful hammers Federal Reserve in scathing editorial
Count Senator Bernie Sanders, I-Vt, among those who think the Federal Open Market Committee’s recent decision to raise the federal funds rate for the first time since June 2006 was a bad decision. In fact, in a scathing editorial published by the New York Times, Sanders lambastes the Federal Reserve, its decision-making, its policies, and its sheer existence.
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Fed adopts new rule limiting 'too big to fail' bailouts

New emergency lending policy targets 'broad-based' issues, not specific firms
Amid pressure from Congress to rein in its power to prop up a troubled financial institution, the Federal Reserve did just that Monday, adopting a new rule that will limit its ability to bail out failing financial institutions.
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Feds announce 2016 threshold for smaller, 'higher-priced’ loan appraisal exemption

Exemption amount remains at same level as 2015
The Federal Reserve Board, the Consumer Financial Protection Bureau, and the Office of the Comptroller of the Currency announced the annual adjustment of the dollar amount used to determine whether a small loan is exempt from the special appraisal requirements that apply to higher-priced mortgage loans.
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