Michael Edwards, group executive vice president and treasurer of Citizens Bank of Rhode Island and Citizens Financial Group Inc., has been elected to the board of directors of the Federal Home Loan Bank of Boston.Mr. Edwards was elected to a three-year directorship that had been redesignated by the Federal Housing Finance Board from Connecticut to Rhode Island effective Jan. 1, 2007. The Finance Board redesignated one of the two Connecticut seats, creating a second Rhode Island seat, in response to an increase in proportionate shareholdings of the bank's Rhode Island members, the FHLBank said. The bank can be found on the Web at http://www.fhlbboston.com.
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The Senate passed a bipartisan housing package, which includes certain community bank provisions, in an 85-5 vote. The House is set to vote on the package Wednesday.
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Ralo uses artificial intelligence to automate the entire process, saving consumers money by cutting out commissioned loan officers, processors and underwriters.
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Part of the proposal affects the risk weighting for certain "investment properties and other cashflow-dependent" mortgages, according to a new Pennymac report.
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William Isaac led the Federal Deposit Insurance Corp. through the banking and thrift crises of the 1980s and was a frequent commentator on bank regulation after his time in public service.
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The longtime Federal Reserve chair served under four presidents and presided over the deregulatory and pro-market push of the 1990s and early 2000s that set the stage for the 2008 mortgage crisis.
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Life insurers have offloaded long-term policyholder liabilities into offshore reinsurance and captive subsidiaries, raising concerns over state oversight of opaque investment vehicles and whether insurers have adequately funded claims.
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