Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON — When House Speaker Nancy Pelosi received a letter from the White House opposing an element they believed was contained in Representative Barney Frank’s (D-Mass.) draft housing proposal, Frank swiftly responded with a letter of his own, denying the White House’s contention.

The White House letter sent to Pelosi on April 9 was written by Keith Hennessey, assistant to the president for economic policy and the director of the National Economic Council, and by Karl Zinmeister, assistant to the president for domestic policy. Frank’s response of April 10 keyed on one issue the White House opposed: allowing lenders or servicers to sell bad loans to taxpayers through an auction process, clearinghouse, or other wholesale mechanism.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.