Recent Bank Failures and Regulatory Initiatives: Hearing Before the Committeee on Banking and Financial Services, House of Representatives, One Hundred Sixth Congress, Second Session, February 8, 2000 |
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accounts activities applications assess audit auditors backup examination Bank of Keystone bank's banking industry BestBank borrowers capital CENSUS TRACT Chairman LEACH Committee concerns consumer conventional home-purchase coordination cost credit card Credit Educators credit histories credit risk denial rates deposit insurance funds depository institutions economic ensure failed FBAs FDIC Board FDIC's Federal Deposit Insurance Federal Reserve financial institutions Financial Services fraud HAWKE Hispanic HLTV HMDA data home-purchase loans home-purchase mortgages identify income increased institution's insured institutions interagency interest rate risk internal controls involved issues KANJORSKI LAFALCE losses lower-income and minority manufactured homes manufactured-home lenders million monitoring National Bank percent portfolio potential predatory lending prime lenders problem proposal recent bank failures regulatory reports require responsibilities retained interests risk management safety and soundness securitization SEIDMAN special examination standards statement subprime and manufactured-home subprime lending subprime loans supervision supervisory TANOUE Thank tion underwriting
Popular passages
Page 76 - Office oversees the financial safety and soundness of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to ensure that they are adequately capitalized and operating safely.
Page 56 - The Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation...
Page 13 - Thank you. [The prepared statement of William J. McDonough can be found on page 132 in the appendix.] Chairman LEACH. Thank you, Mr. McDonough. Mr. Meyer. STATEMENT OF HON. LAURENCE H. MEYER, MEMBER, BOARD OF GOVERNORS, FEDERAL RESERVE SYSTEM Mr. MEYER. Mr. Chairman and Members of the committee, I am pleased to have this opportunity to meet with you this morning to discuss my views on monetary policy. I am well aware that despite the recent good performance of the economy, some Members of this committee...
Page 90 - To put it in a homely phrase, we must be careful not to throw the baby out with the bath water!
Page 53 - Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS) and to make recommendations to promote uniformity in the supervision of financial institutions.
Page 94 - If you have any questions or would like to discuss this matter, please call us at [insert tel.
Page 29 - Chairman LEACH. Without objection. [The information referred to can be found on page 86 in the appendix.] Mr.
Page 112 - Transactions relating to the expenditure of public funds require the highest degree of public trust and an impeccable standard of conduct. The general rule is to avoid strictly any conflict of interest or even the appearance of a conflict of interest in Government-contractor relationships.
Page 109 - Auditors should be alert to situations or transactions that could be indicative of fraud, abuse, or illegal acts with respect to the program.
Page 157 - If there are concerns — for example when the FDIC is involved in ongoing litigation against the institution — these are to be brought to the immediate attention of senior Washington staff so they can be quickly evaluated and resolved on a consistent basis. A second set of eyes is a benefit when an institution is showing signs of stress, and in numerous instances we have sought out FDIC participation in examining a problem institution.