WASHINGTON - (04/06/05) -- Republican House leaders introducedlegislation Tuesday that would set a new regulatory scheme overFannie Mae and Freddie Mac and give the new regulator powers to setthe portfolio size of the two secondary mortgage market giants. Thebill, sponsored by House Financial Services Chairman Michael Oxleyand Rep. Richard Baker, would give the new regulator the authorityto order the two companies to adjust the size of their portfoliosbut would not set specific limits on their portfolios. Baker, along-time critic of the two companies, said he was not swayed byrecommendations by Federal Reserve Chairman Alan Greenspan andTreasury Secretary John Snow to limit Fannie's and Freddie'smortgage holdings to $200 billion each and to limit their purchasesof mortgage-backed securities, a key investment vehicle for creditunions. The bill would also set new capital standards for Fannieand Freddie and allow the regulator to determine new products andservices the two companies could offer. It would also include aseparate regulator for the 12 Federal Home Loan Banks under thesame roof as the new regulator for Fannie and Freddie.
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
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New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
April 19 -
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
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The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
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