Lending

WASHINGTON -- Following the Senate's lead, the House of Representatives yesterday passed the "Mortgage Forgiveness Debt Relief Act" (HR 3648) to give homeowners facing foreclosure some temporary tax relief.

WASHINGTON -- Following the Senate's lead, the House of Representatives yesterday passed the "Mortgage Forgiveness Debt Relief Act" (HR 3648) to give homeowners facing foreclosure some temporary tax relief.

A working paper that explicitly avoids taking a formal role in policy discussion has nonetheless been drawn into the energetic debate over the merits and demerits of payday lending.

NEW YORK -- In a story in today's New York Times about how The Federal Reserve, the U.S. Treasury and other regulators repeatedly ignored warnings on the subprime housing crisis, Martin Eakes singled out the Fed's slow reaction to rein in lenders.

WASHINGTON -- While lending to businesses was generally at high levels from October through mid-November, the latest Beige Book, a summary on current economic conditions as reported by the 12 Federal Reserve Districts, suggested a slower rate of growth than previous periods.

CHICAGO -- Illinois Attorney General Lisa Madigan has expanded the state's investigation of mortgage lending practices, issuing subpoenas for documents from Countrywide, the nation's largest home lender.