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Exclusive: Treasury secretly weighs options to avert default
Jul 07, 2011 07:26 EDT
WASHINGTON (Reuters) - A small team of Treasury officials is discussing options to stave off default if Congress fails to raise the country's borrowing limit by an August 2 deadline, sources familiar with the matter said on Wednesday.
Administration faults firms in foreclosures
Nov 23, 2010 16:39 EST
Administration official calls problems involving mortgage foreclosures inexcusable. An Obama administration official says a preliminary investigation into the foreclosure process has found inexcusable breakdowns in the basic controls mortgage lenders should have been using.
Banks warned on loan-loss provisions
Nov 23, 2010 16:35 EST
WASHINGTON (Reuters) - Banks showed further signs of recovery in the third quarter, helped by the lowest level of loan-loss provisions since before the 2007-2009 financial crisis, but drew a warning from a top regulator not to go too far.
U.S. cites "inexcusable" breakdown of foreclosure process
Nov 23, 2010 12:28 EST
WASHINGTON (Reuters) - A senior U.S. Treasury Department official said on Tuesday there has been a significant breakdown in the process by which banks foreclose on homes and said regulators were looking at it closely.
Human ingenuity saved the day for plane in crisis
Nov 19, 2010 03:43 EST
Pilots' teamwork saves the day for Qantas super-sized airliner after engine explosion. One moment, the super-sized airliner was climbing thousands of feet over Indonesia. The next, the engine exploded, shooting flames and shrapnel through one wing. Computer warnings of impending systems failures throughout the aircraft started flashing on cockpit screens.
Obama aides: mortgage woes not "systemic"
Oct 20, 2010 18:35 EDT
WASHINGTON (Reuters) - The Obama administration said it found no sign so far of "systemic" home foreclosure troubles that threaten U.S. financial stability, or structural problems that could undermine investments linked to mortgages.
Obama aides: mortgage woes not "systemic"
Oct 20, 2010 18:35 EDT
WASHINGTON (Reuters) - The Obama administration said it found no sign so far of "systemic" home foreclosure troubles that threaten U.S. financial stability, or structural problems that could undermine investments linked to mortgages.
Gov't: Banks should share Fannie, Freddie costs
Sep 15, 2010 16:47 EDT
Government regulator says banks bear some responsibility in Fannie Mae, Freddie Mac rescue. The nation's largest banks have an obligation to pay some of the cost for bailing out mortgage buyers Fannie Mae and Freddie Mac because they sold them bad mortgages, a government regulator said Wednesday.
Treasury's Barr to testify on Fannie and Freddie
Sep 10, 2010 12:09 EDT
WASHINGTON (Reuters) - Michael Barr, assistant treasury secretary for financial institutions, and Edward DeMarco, acting director of the Federal Housing Finance Agency will testify on Capitol Hill next week on the future of Fannie Mae <FNMA.OB> and Freddie Mac <FMCC.OB>.
Consumer agency candidate Warren meets with Obama
Sep 09, 2010 10:04 EDT
Warren, leading candidate to lead consumer protection agency, meets with Obama. Elizabeth Warren, a popular but polarizing consumer advocate, met with President Barack Obama at the White House Tuesday, adding to speculation she could be named to head a new consumer protection agency.
No bank account? Get your tax refund on plastic
Sep 02, 2010 08:18 EDT
Treasury to deliver some tax refunds on debit cards, saving money but raising fee fears. A new Treasury Department program to give people without bank accounts faster access to their tax refunds will help some avoid costly short-term loans. But careless consumers could end up racking up fees and padding bank profits.
Folksy Warren is symbol in debate over Wall Street
Aug 30, 2010 12:23 EDT
WASHINGTON (Reuters) - Elizabeth Warren is folksy and plain-spoken and favors cardigans over Washington power suits. Many on Wall Street view her as their worst nightmare but she is a hero to liberal activists and consumer groups.
Folksy Warren is symbol in debate over Wall Street
Aug 30, 2010 12:23 EDT
WASHINGTON (Reuters) - Elizabeth Warren is folksy and plain-spoken and favors cardigans over Washington power suits. Many on Wall Street view her as their worst nightmare but she is a hero to liberal activists and consumer groups.
Housing summit may yield Fannie and Freddie clues
Aug 12, 2010 14:23 EDT
WASHINGTON (Reuters) - An Obama administration summit of housing industry leaders next week may yield clues on the future of Fannie Mae <FNMA.OB> and Freddie Mac <FNMA.OB>, the two mortgage heavyweights that so far have sucked up close to $150 billion in taxpayer bailout funds.
US officials discuss new consumer agency
Jul 29, 2010 18:08 EDT
Top officials meet on new consumer protection agency; staff at 7 agencies may be transferred. High-level government officials met Thursday to discuss the new consumer protection agency established by the financial overhaul law, and employees at seven federal agencies are being told they may be transferred to work at it.
Geithner: Choosing consumer chief is up to Obama
Jul 21, 2010 19:52 EDT
Geithner praises Elizabeth Warren but says Obama will decide on new head of consumer agency. Treasury Secretary Timothy Geithner had praise Wednesday for one of the top candidates to head a new consumer protection agency but said that who fills the post is up to the president.
Geithner: Obama to pick consumer protection chief
Jul 21, 2010 19:47 EDT
Geithner praises Elizabeth Warren but says Obama will decide on new head of consumer agency. Treasury Secretary Timothy Geithner had praise Wednesday for one of the top candidates to head a new consumer protection agency but said it would be up to the president to decide who will fill the post.
Obama to consider consumer chief "fairly quickly"
Jul 20, 2010 16:00 EDT
WASHINGTON (Reuters) - U.S. President Barack Obama will move "fairly quickly" to choose a head for the new Bureau of Consumer Financial Protection, Deputy Treasury Secretary Neal Wolin said on Tuesday.
Congress acts on bank overhaul, but work ahead
Jul 16, 2010 21:50 EDT
Congress acts on bank overhaul, now regulators will have to write new rules. In the end, it's only a beginning. The far-reaching new banking and consumer protection bill that President Barack Obama intends to sign on Wednesday now shifts from the politicians to the technocrats.
White House eyes Warren for new consumer watchdog
Jul 16, 2010 16:24 EDT
WASHINGTON (Reuters) - Elizabeth Warren, an outspoken consumer rights advocate feared by Wall Street, is among top contenders to head a new financial consumer watchdog bureau, a senior White House adviser said on Friday.
