WATCH: Former Wells Fargo CEO calls BofA fine “extortion”

WATCH: Former Wells Fargo CEO calls BofA fine “extortion”

Kovacevich says fine is political and has “nothing to do with justice”

BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch

KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny

Items Tagged with 'reform'


Fed reform legislation increases oversight

"Lifts this veil of secrecy"
Brena Swanson
Two congressmen introduced the Federal Reserve Accountability and Transparency Act in order to increase oversight of the Federal Reserve.
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House passes CFPB reform bill

Dramatic bureau overhaul goes to Senate
Trey Garrison
The Consumer Financial Freedom and Washington Accountability Act, sponsored by House Financial Services Committee member Rep. Sean Duffy, R-Wisc., passed on a largely party line vote Thursday evening.
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Congratulations, Mr. Watt — now lower the rent

Federal regulators urge funding for National Housing Trust Fund
Brena Swanson
Before Mel Watt could even get his name plate on the door as head of the Federal Housing Finance Agency, top federal regulators are already urging him to end contributions to the National Housing Trust Fund and the Capital Magnet Fund.
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Latest Fannie Mae payment to Treasury nearly evens out

CEO: Guarantee fee rise to continue
Brena Swanson
Fannie Mae’s third-quarter net income continued to lift higher and hit $8.7 billion. However, the underlying question of a possible government reforms helped to increase guarantee fees.
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Experts pull back reins on FHA bailout rumors

Will FHA reform immediately follow the shortfall? Doubtful.
Christina Mlynski
While rumor has it the FHA will require a first-time Treasury draw this year, industry analysts are cautioning the industry not to buy into those reports just yet.
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