NEW YORK - (09/02/04) In contrast to their ubiquitouspresence at the Democratic Convention last month, Fannie Mae andFreddie Mac have stayed in the background here at the RepublicanNational Convention. The two secondary mortgage market giants,under fire in Congress, continue to mine for congressionalgoodwill, with the two reported to have contributed as much as $1million to the Republican National Committee to help fund theconvention. But the Fannie and Freddie names are on far fewerinvitations, the major one being at a press-excluded party atRockefeller Center Tuesday, on top of the famed ice skating rink.The event, also sponsored by the Mortgage Bankers Association, theNational Association of Home Builders, National Association ofRealtors, and Independent Community Bankers of America, was inhonor of Senate Majority Leader Bill Frist of Tennessee. Under thegiant gold statute of the Greek god Prometheus, party-goers wereinvited to play billiards, miniature basketball and other gameswhile dining on carved duck and dancing to the band, InTouch.
-
The top five banks and thrifts have combined total assets of nearly $13 trillion.
Just now -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
2h ago -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
8h ago -
Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
9h ago -
The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
11h ago -
The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
April 23