Items Tagged with 'Joseph Otting'


  • [Pulse] Op-ed: The next steps for GSEs

    Policymakers, handle this with care
    If indeed we are weeks away from a plan for overhauling the GSEs, there is currently no telling what this might entail, leaving stakeholders to project onto the future whatever their hopes and fears might lead them to. The administration needs to clarify its position, and sooner rather than later. Signaling movement in the absence of any clear sense of direction comes at too high a cost for a market that shouldn't have to bear it.
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  • FHFA names new chief of staff

    Ohio Republican John Roscoe set to take over
    The Federal Housing Finance Agency has named John Roscoe its new chief of Staff. Roscoe worked previously at the Ohio Treasurer’s Office and on the presidential campaigns for Mitt Romney and President Donald Trump.
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  • White House walks back Otting comment on imminent GSE reform

    "At this time, no decisions have been made on any reform plan"
    Two weeks ago, FHFA Acting Director Joseph Otting told staffers the agency was weeks away from announcing a plan to take the GSEs out of conservatorship, but now it appears the White House is saying otherwise. A spokesperson said Tuesday that the administration expects to release a framework for reform shortly, and that it intends to work with Congress to implement a strategy.
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  • Shares of Fannie, Freddie soar as Wall Street bets on GSE privatization

    Common shares up 170%
    There’s been lots of noise lately that the end of Fannie Mae and Freddie Mac's conservatorship is looming, and the speculation is causing the GSEs' stocks to soar. The Wall Street Journal reports that common shares of Fannie and Freddie are up 170% as news hit that FHFA Acting Director Joseph Otting reportedly said he was weeks away from making an announcement.
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  • FHFA will not defend its constitutionality in court

    Acting Director Otting agrees agency is unconstitutionally structured
    The Federal Housing Finance Agency revealed it will no longer defend its own structure, calling itself unconstitutional. In a filing to the fifth circuit, FHFA Acting Director Joseph Otting urged the court to dismiss the case and leave the previous judgment intact.
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  • Is GSE reform just weeks away?

    Acting FHFA director plans to announce plan
    Calls for government-sponsored enterprise reform have gone on for years – but now that reform could be just weeks away from becoming a reality. FHFA Acting Director Joseph Otting is said to be just weeks away from releasing a plan.
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  • Watt out: OCC’s Otting officially takes over as FHFA director

    Otting will serve as interim director until Senate votes on Calabria
    Mel Watt’s time as the director of the Federal Housing Finance Agency is officially over. Watt became the first Senate-confirmed director of the FHFA back in 2014, and led the FHFA for five years, but his term as FHFA director ended on Jan. 6, 2019. Here's a look back at Watt's time at the FHFA and a look ahead at what's next.
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  • Trump taps OCC's Otting to replace Watt as FHFA director

    Will oversee agency after Watt's term ends in January
    President Trump designated Comptroller of the Currency Joseph Otting as the next acting director of the FHFA. Otting will take over the FHFA temporarily until a permanent director is approved by the Senate, and will start his tenure once current Director Mel Watt’s term ends on January 6, 2019.
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  • New York sues federal government over fintech bank charter plan

    NYDFS is taking the government to task over decision to offer bank charters to fintech companies
    New York state’s top banking regulator sued the federal government to void its decision to begin offering national bank charters to online lenders and payment companies, saying the decision was unconstitutional and posed a threat to consumers. According to Reuters, Maria Vullo, NYDFS superintendent called the Office of the Comptroller of Currency’s decision to allow fintech companies to obtain bank charters, “lawless, ill-conceived and destabilizing of financial markets.”
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  • Trump administration considering changes to Community Reinvestment Act

    OCC invites comments on how to “modernize” CRA regulations
    The Trump administration is considering making changes to the Community Reinvestment Act, the federal law that requires banks to meet the credit needs of all communities they serve, including low- and moderate-income neighborhoods. The Office of the Comptroller of the Currency announced Tuesday that it is looking to “modernize” the CRA and wants public comments on how best to do so.
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