Does anyone have a handle on how much the Feds spend on banking regulation?
I tried to find out how much is spent on enforcing just the Home Mortgage Disclosure Act (HMDA) and the Real Estate Settlement Procedures Act (RESPA), which entails an army of government lawyers and statisticians, but neither my Congressman or my Senators could come up with an answer and didn't seem particularly concerned that no one knew.
My guess is that more money is spent by the lending industry itself in government mandated reporting and by the Feds in excessive monitoring and regulating than would be needed to fund every loan ever turned down by any lender for any reason whatever, including fraud and bad credit, let alone illegal discrimination.
Anyone know how to light a fire under Congress and make them come up with a figure?
probably millions.
2007-07-06 08:07:22 by Cool Dude
Array
Ferguson: No change on the finance side is due to the fact that US has a money-driven political system
What is the sanctity of good for payment cheque as per banking regulation?
cases if any regarding the subject please advice
2008-08-24 09:34:19 by San K
Who monitors banking regulation and lending criteria of the banks in the UK?
any legal info would be great fanks!!!
2009-02-22 16:15:22 by faz k
Distinguish between deregulation and re-regulation of the banking industry.?
Distinguish between deregulation and re-regulation of the banking industry.
can anyone help me with this and also tell me the source/link for the information. thanks :)
Different words: DE- means cessation, stop; RE- means doing something again, mostly with the purpose of renovation, restructuring of the processes in order to achieve better results.
Check more @
http://financial-dictionary.thefreedictionary.com/deregulation
And
http://www.energyvortex.com/energydictionary/reregulation.html
Best of luck!
2009-03-04 00:38:01 by ATENKOV
Who is responsible for gutting the banking regulations?
it gets tiring hearing all the pubbies complain about irresponsible mortgage borrowing when the problem began with the deregulation of mortgages allowing the scams where the interest shoots up after a few years.
Where can I go to see who deregulated banking and got us into this mess?
The real question that no one is asking (but should be) is, what ever happened to all the energy brokers who left Enron after its collapse, and why were none of them ever held accountable for the illegal manipulation of the energy markets in California?
Going after the Enron chiefs was not enough. They simply looked the other way at the illegal practices. But meanwhile, those brokers moved on to other sectors, where they used the exact same methodology again.
Some went to the mortgage industry. Some went to the credit industry. Most went to the oil and gas industry. And it's no coincidence this is where our problems are... again.
If you want to demand anything from Congress or the presidential candidates, it should be that all of the people involved in these scandalous practices -- NOT just the CEO's and CFO's -- be punished accordingly and appropriately.
2008-09-15 19:41:37 by Jbushkey
banking regulation
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Jefferson County Public Schools Superintendent Sheldon Berman has failed to show the same kind of selfless leadership demonstrated by the governor, mayor and university president. Superintendent Berman makes more than $270,000 a year and has accepted a 1 percent raise for the upcoming school year. In our current economic downturn — with regular layoffs and pay cuts — his salary must seem staggering to most citizens. I don't fault the salary paid the superintendent. After all, he has an incredibly important job — leading our public schools so they can effectively educate some 100,000 of our children. But Superintendent Berman just received a less-than-glowing performance evaluation. He has sagging morale among certified employees. He has often shown a lack of respect for our elected school board. He has a widely unpopular student assignment plan, when other options were recommended that would have achieved diversity and not caused the mass dissatisfaction of parents. He has dismantled the
Source:
Where Europe and America differ on global banking regulation
by Avinash Persaud
It’s tempting to base ideas for global financial regulation on “bashing big banks”, says Avinash Persaud, who chaired the UN’s “Stiglitz Commission” on financial reform. But he warns that the greater problem is that of diverging American and European views on a safer rulebook.
It seemed that a new model for global governance had been forged in the white heat of the financial crisis. When the G7 gave way to the G20, leaders representing 80% of the world’s population began to call for a global policy response to the crisis. After governments opened the fiscal sluice gates, interest rates were slashed and the IMF was given additional resources. But now the ashes are cooling and senior U.S. officials are saying “nobody is going to tell us how to regulate our banks.” Different national perspectives are emerging in the area of international bank regulation.
PARIS (Dow Jones)--French President Nicolas Sarkozy pleaded Tuesday for a stronger role for the European Union on several fronts, including gas supply and banking regulation, outlining the French agenda for the 27-nation bloc.
Fed's Stern: Too Big To Fail Threat To Financial SystemStern told the Senate Banking Committee that the key to addressing TBTF is to reduce substantially the negative spillover effects stemming from the failure of a systemically important financial institution. At its heart, the problem of TBTF is
Straits TimesSingapore to Refine Islamic Finance Rules to Boost IndustryBloomberg - Shamim Adam the central bank's Managing Director Heng Swee Keat said in an interview in Singapore yesterday. The city state will maintain its regulation standards as it grows its Islamic finance market, he said. “Maintaining a very high standard of regulation Crisis will drive more Mid-East funds to Singapore
EU lawmakers back new banking rulesEuropean banks have pledge to set up their own clearing house this summer to avoid regulation of the derivatives that were partly blamed for the financial crisis by opening up huge liabilities for some traders. The Parliament also agreed to strengthen
22 [ID:nn28448776] > TEXT-G7 communique-April 24 [ID:nn24515491] > World government actions to limit bank bad loan damage [ID:nll193589] > Major US financial regulation reform initiatives [ID:nn20382395] > Where has all the US bailout money gone ?
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Regulation (GPO) | Recent amendments. Proposed Amendments. To establish criteria for the ... Governs the international banking operations of U.S. banking organizations and the ...
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The Federal Reserve Board of Governors in Washington DC. ... Banking. Information & Regulation. Payment. Systems. Economic. Research & Data. Consumer. Information. Community ...
Straits TimesSingapore to Refine Islamic Finance Rules to Boost IndustryBloomberg - Shamim Adam the central bank's Managing Director Heng Swee Keat said in an interview in Singapore yesterday. The city state will maintain its regulation standards as it grows its Islamic finance market, he said. “Maintaining a very high standard of regulation Crisis will drive more Mid-East funds to Singapore