Federal Reserve Board nominees Elizabeth Duke and Larry Klane said they support the Fed's efforts to draft a rule that would provide better consumer protections for subprime borrowers and ban certain unfair lending practices."If confirmed, I will put my full energy" into using "all the arrows in the regulatory quiver to protect consumers under the Home Ownership and Equity Protection Act," Mr. Klane told the Senate Banking Committee during a confirmation hearing. The Fed is expected to issue a proposed HOEPA rule before the end of the year. Ms. Duke is a Virginia community banker, and Mr. Klane is a top executive at the credit company Capital One, which has a mortgage subsidiary that makes prime and alternative-A loans. President Bush nominated the two bankers to fill two vacancies on the Federal Reserve Board. The Fed can be found online at http://www.federalreserve.gov.
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Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18