Items Tagged with 'Charles Schumer'


  • Waters and 61 legislators demand Congress keeps NFIP active

    Reps. Beto O’Rourke, Eleanor Norton and Gregory Meeks back Waters
    Ranking Member of the House Committee on Financial Services Maxine Waters, D-Calif., and 61 members of Congress are demanding a long-term reauthorization of the National Flood Insurance Program. Waters, a prominent critic of H.R. 2874, believes American families are not financially prepared for the growing threat of natural disasters.
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  • Senate Democrats to Trump: Do not fire CFPB director, you've been warned

    "Why would Trump want to go after the bureau in his first week of office?"
    Senate Democrats are adamantly fighting back against growing calls for President-elect Donald Trump to fire Consumer Financial Protection Bureau Director Richard Cordray. This time around Senate Democrats held a press call to emphasize the importance of Cordray and what the consequences would be if Trump attempted to fire him.
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  • Democrats Push for Foreclosure Freeze at Fannie, Freddie

    Four Democratic Senators, led by Charles Schumer (D-NY), are pushing federal regulators and new chief executives at Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] to freeze all foreclosures on loans they own for 90 days. Numerous news outlets reported on the move Thursday afternoon, citing a letter sent by Schumer, Sherrod Brown (D-OH), Bob Casey (D-PAU), Bob Menendez (D-NJ) earlier this week.
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  • IndyMac Fails; OTS, Schumer Point Fingers

    It's over for the Pasadena-based thrift that once ruled the Alt-A mortgage roost. On Friday evening, the Federal Deposit Insurance Corp. closed Indymac Bancorp Inc. [stock IMB][/stock] and its $32.01 billion in total assets, and total deposits of $19.06 billion.
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  • Schumer: IndyMac's Troubles Don't Extend to Regional Banks

    In the wake of the troubles now facing Indymac Bancorp Inc. [stock IMB][/stock], Senator Charles Schumer (D-NY) came out Tuesday suggesting that the bank's troubles "were not replicated by other regional banks." "Neither depositors nor investors should read IndyMac’s unique troubles as an omen for other institutions," he said in a statement released by his office early Tuesday afternoon, clearly looking to assuage investor concern and perhaps looking to take a conciliatory tack with frustrated banking regulators.
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  • Consumer Group Targets IndyMac Over Alt-A Mortgages

    As if IndyMac Bancorp Inc. [stock IMB][/stock] didn't have enough problems of the real variety right now -- trying to find sources of capital among them, as bank losses tied to Alt-A mortgages mount -- the Center for Responsible Lending on Monday took aim at what many expect to be the next target for consumer groups' ire, now that Countrywide Financial is no more.
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  • IndyMac: Mini Bank Run, Thanks to Schumer

    IndyMac Bancorp, Inc. [stock IMB][/stock] felt the pain of a mini bank run this past week, thanks to a leaked letter from New York Senator Charles Schumer that questioned the bank's solvency and led to widespread press coverage last week, the Pasadena-based thrift said in a filing with the Securities and Exchange Commission late Monday.
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