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30 11, 2022

DAILY113022

2022-11-30T17:09:02-05:00November 30th, 2022|2- Daily Briefing|

Brown Again Asks Treasury for Crypto Action, Recommendations

In a letter today, Senate Banking Chairman Brown (D-OH) continued his press for regulators to do something soon about cryptoassets.  He called on Secretary Yellen to work quickly with regulators to advance the policy recommendations in recent Treasury reports (see Client Report CRYPTO32), noting in particular his concerns with vertical integration, calling for rules as well as recommendations regarding any needed statutory changes.

Confirmation Seems Assured for Full FDIC Board

At today’s confirmation hearing, Republicans raised numerous concerns with Acting Chairman Gruenberg, but appear reconciled to accepting his nomination in order to win confirmation for the two Republican nominees who would fill out the board.  Ranking Member Toomey (R-PA) blasted Mr. Gruenberg over the alleged “power grab” last year and his support for climate risk initiatives, but the bulk of questioning centered around cryptoassets.

Brown Presses CFPB to Stop Silent Second Foreclosures

Chairman Brown (D-OH) today sent a letter today to CFPB Director Chopra urging the Bureau to sanction servicers foreclosing on “zombie” second liens.  These are second liens that were often piggybacks in pre-2008 high-LTV mortgages designed to ensure that first loans could be sold to the GSEs without private mortgage insurance.

Daily113022.pdf

21 11, 2022

GSE-112122

2022-11-21T16:42:15-05:00November 21st, 2022|4- GSE Activity Report|

We’re Starting to See SIFIs

As came out into the open last week, FSOC will finally turn to rewriting the Trump era rewrite of the Obama Administration’s FSOC protocols regarding systemic financial institutions and activities.  Could the SIFI reaper be coming for Fannie and Freddie?  We doubt it, but then again…

GSE-112122.pdf

21 11, 2022

FedFin: We’re Starting to See SIFIs

2022-11-22T13:21:33-05:00November 21st, 2022|The Vault|

As came out into the open last week, FSOC will finally turn to rewriting the Trump era rewrite of the Obama Administration’s FSOC protocols regarding systemic financial institutions and activities.  Could the SIFI reaper be coming for Fannie and Freddie?  We doubt it, but then again…

The full report is available to subscription clients. To find out how you can sign up for the service, click here.…

9 11, 2022

Al090522

2022-11-09T16:27:23-05:00November 9th, 2022|3- This Week|

Summer’s Over

Last week marked the end of meteorological summer and this week the end of Congressional recesses and the bit of downtime global and U.S. regulators and other officials allow themselves.  We’re gearing up for a busy session ahead of the midterms in which U.S. regulators will try to finalize as much as they can as fast as they can to avoid political obstacles should the GOP gain Congressional control and members of Congress position bills for possible enactment in the lame-duck or, should anything occur before then, as riders to a must-pass bill.  Last week did include an important announcement of a new initiative assessing the future of the Federal Home Loan Banks which, as we noted, raises big issues about a little-noticed GSE with big implications for housing policy, funding strategy, and much more….

Al090522.pdf

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