Rep. Bob Ney, R-Ohio, has agreed to step aside temporarily as chairman of the House Administration Committee because of allegations about his links to a lobbying scandal, but he will continue to chair a housing subcommittee."He plans to continue to chair the [House Financial Services] housing subcommittee," a Ney spokesman said. House Speaker Dennis Hastert, R-Ill., urged the Ohio congressman to step down as chairman of the Administration Committee because of his relationship with lobbyist Jack Abramoff, who recently pleaded guilty to conspiracy to bribe public officials, including Rep. Ney. Rep. Ney has denied any wrongdoing and maintains that he will be vindicated when the investigations are completed. But the Speaker's spokesman, Ron Bonjean, said it would be a "big problem" having Rep. Ney lead the Administration Committee, which is expected to take up lobbying reforms early this year. "There are people that have pled guilty who have conspired to bribe him," Mr. Bonjean said. Rep. Ney announced his decision to relinquish the Administration Committee post after chairing housing subcommittee hearings Jan. 13-14 in New Orleans and Gulfport, Miss, on housing problems related to Hurricane Katrina.
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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.
June 22 -
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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