Neil Haggerty
ReporterNeil Haggerty is the Congress reporter for American Banker. He previously was a financial regulation reporter at MLex Market Insight.
Neil Haggerty is the Congress reporter for American Banker. He previously was a financial regulation reporter at MLex Market Insight.
Democrats’ latest proposal to back debt collectors, enable loans for nonprofits and provide other relief could help steer negotiations with the Senate on more stimulus.
Financial institutions could testify before the bipartisan commission overseeing the unprecedented economic aid for industries hit by the COVID-19 pandemic. But without subpoena authority, the panel’s impact may be limited.
A bipartisan group of lawmakers wrote in a letter to the Treasury secretary that the Financial Stability Oversight Council should create a liquidity facility to deal with a flood of forbearance requests brought on by the coronavirus pandemic.
The $2 trillion deal passed by the Senate late Wednesday would aim to put banks and consumers alike on stronger financial footing as they weather the coronavirus pandemic.
The temporary foreclosure moratorium on loans backed by HUD, Fannie Mae and Freddie Mac comes after lawmakers and housing advocates had pushed for steps to avoid consumers getting booted from their homes.
Sen. Mark Warner led a group of Democratic senators in calling on bank, credit union and GSE regulators to give detailed instructions on helping consumer and commercial borrowers hurt by the COVID-19 outbreak.
The agency's director said both steps will come as part of an ongoing review of agency rules and show her "commitment under the law to be effective and evidence based” in providing clarity to stakeholders.
Bernie Sanders’ rise to front-runner status for the Democratic nomination worries many bankers, but their opinions diverge on his electoral chances and whether a Sanders presidency would pose a direct threat.
Years after criticizing the Dodd-Frank Act, the Democratic presidential candidate and former New York City Mayor Michael Bloomberg is now taking a page from the Elizabeth Warren playbook.
Democrats on the Senate Banking Committee are pressuring Federal Housing Finance Agency Director Mark Calabria and Treasury Secretary Steven Mnuch to provide more details on administration plans to end the conservatorships of Fannie Mae and Freddie Mac.