The inclination of Congress is to take a pass on the issue of GSE reform until after the election. The problem is that the Treasury support expires in December.
Joseph Smith, the appointed monitor for the state attorneys general settlement, should start coordinating with the OCC and Fed on their foreclosure abuse agreements now.
Is the right way to hold banks accountable for servicing errors to require them to disgorge funds to borrowers who themselves may have been equally complicit in the process of helping to create mortgage fraud?
What the former Fed chairman does not tell us, because he cannot, is the name of a single bank that went under and required taxpayer support because of proprietary trading gone bad.
Competition between Amex, Discover, MasterCard, PayPal and Visa is fierce and intensifying. What would Facebook's angle be if it aspired to build a broader payments business?
Supervisors must reach out to bankers and encourage appeals where the bank and the agency's front line are at an impasse, and hammer out procedures that give bankers no reason to fear retribution.
