Banking Law Prof Blog
The Banking Law Prof Blog is a law professor blog authored by Ann Graham, Associate Professor of Law at Texas Tech University School of Law.
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Recent Articles
Fannie & Freddie in Conservatorship - Another Sunday Announcement Intended to Stabilize the U.S. Housing Mortgage Market and Reassure U.S. & Global Financial Markets
The Perils of Fannie and Freddie (playing out somewhat like that old cliff-hanger series, "The Perils of Pauline") have kept financial commentators on the edge of their seats all summer. Today, regulators made another Sunday announcement of actions taken to...
New Federal Reserve Governor Sworn In Today
Elizabeth Duke joins the Board of Governors of the Federal Reserve System today, beginning a term that lasts until Jan. 31, 2012. Ms. Duke is a career banker, having worked for both a community bank in Virginia (Towne Bank) and...
Federal Reserve Extends Extraodinary Liquidity Measures
As we all know, this economic "downturn" is not over. The Federal Reserve has been very innovative in developing new tools to enhance liquidity in the U.S. financial system. Check out the Fed's recent press release which lists and explains...
Oxford Roundtable Working Paper: NAFTA, 9/11, and the Subprime Mortgage Meltdown-A Disastrous Combination from a Human Rights Perspective
My powerpoint and working paper as presented to Oxford Roundtable, Aug. 3-8, 2008. Link to powerpoint: Download OxfordRoundtable.ppt Link to working paper: Download oxford_roundtable_working_paper.doc
CRA: It's Not Just for Low to Moderate Income Anymore
Comptroller of the Currency John Dugan emphasized the new housing legislation's expansion of focus, encouraging national banks to lend to middle income areas in addition to low and moderate income. Link: http://www.occ.gov/ftp/release/2008-92.htm (ag) July 31, 2008, in CRA/Lending Issues
Asking for Mortgage Foreclosure Forbearance Until Oct. 1
The Hope for Homeowners Act portion of the comprehensive Mortgage Reform Bill will go into effect on Oct. 1, 2008, and House Financial Services Committee Chairman Barney Frank is asking lenders to delay taking action on mortgage foreclosures until Oct....
Capital Adquacy in a Time of Bank Failures - Basel II, Pillar Two
As the probability of increasing bank failures looms large in the public consciousness, more attention will appropriately focus on capital adequacy. How Basel II implementation will square with the need for an adequate capital buffer against hard times is an...
One Step Closer to a "Mortgage Rescue Bill"
Today, the U.S. House of Representatives passed H.R.322, the American Housing Rescue and Foreclosure Prevention Act of 2008, by a vote of 272 to 152. Now the bill goes back to the Senate, where it is expected to pass quickly...
Covered Bonds - A New Solution or an Old Danger?
In response to the liquidity crisis, particularly with regard to home mortgages, the FDIC last week announced new guidance for covered bonds. So what are covered bonds? Here's how the FDIC describes covered bonds: "Covered bonds are general, non-deposit obligation...
IndyMac - Second Largest Failure in FDIC History
Subprime lender IndyMac was closed by FDIC on Friday. Check out my comments before and after the closing as quoted in Reuters News Service articles: News story on July 9, 2008: "IndyMac's Fate Could Test Banking Regulators" http://uk.reuters.com/article/ousiv/idUKN0932999520080710 News story...
