Echoing House members, five Republican senators called on the Federal Reserve Board to rethink its surcharge in order to eliminate “excessive” capital requirements.
The proposal released in May to clarify how banks comply with the proprietary trading ban would “undermine a fundamental provision" of Dodd-Frank, lawmakers said.
Fannie Mae’s treatment of a reperforming loan package helped drive up earnings by almost 41% to $4.5 billion, delivering a stronger dividend to Treasury ahead of a leadership change.
A new law exempts small lenders from expanded mortgage data reporting, but regulators are signaling that banks no longer have to collect the data either.
The $2.1 billion settlement is likely to be the last of the big toxic mortgage cases from the financial crisis; the move pressures rivals to lower prices.
