The Department of the Treasury, the Federal Deposit Insurance Corporation, and the Federal Reserve have recently put into place several programs designed to promote financial stability and to mitigate procyclical effects of the current market conditions. These programs make new…

The November 13 story in the Washington Post ("Bailout Lacks Oversight Despite Billions Pledged" - 11/13/2008) leaves out critical steps taken by Treasury to ensure that there is strong oversight in place as the Emergency Economic Stabilization Act is implemented.…

RICHMOND, Va. -- Circuit City Stores, Inc. (NYSE: CC) announced that it has filed a voluntary petition for reorganization relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of…

In October 2008, a total of 8,210 resale homes recorded as sold. Foreclosure activity represented 47 percent (3,745 transactions) and 4,465 traditional market transactions. Foreclosed transactions represent home owners losing their property to successful individual bidders or the lender of…

Home loan modifications may be the best way to help homeowners stay in their houses and to get the economy back on track. Thats the word from a top expert whos testifying in front of Congress Friday about the bailout…

The House of Representatives passed a bill that is essential to helping Americas economy weather the financial crisis. The Senate passed the same legislation. And when Congress sent me the final bill, I signed it into law. There were moments…

The Federal Trade Commission has charged a Florida couple with violating federal law by deceiving consumers into believing that their homes could be saved from foreclosure in return for a fee. At the Commissions request, a federal court halted the…

Recent Actions regarding Government Sponsored Entities, Investment Banks and other Financial Institutions Washington, DC--Chairman Dodd, Senator Shelby, members of the committee, thank you for the opportunity to appear before you today. I appreciate that this is a difficult period for…

August Issuance Sets New Record for Ginnie Mae Washington, DC Today, the Government National Mortgage Association (Ginnie Mae) announced that issuance for its Mortgage-Backed Securities (MBS) program increased to a record breaking $29 billion in August, the highest rate of…

Personal Finance Expert Suze Orman Featured in PSAs The Federal Deposit Insurance Corporation (FDIC) launched a national campaign designed to help consumers learn about the benefits and limitations of deposit insurance. The campaign's public service announcements (PSAs) will feature personal…

Washington, DC The National Community Reinvestment Coalition (NCRC) said that the governments takeover of Fannie Mae and Freddie Mac was unavoidable as a direct result of the failure of Congress and the Administration to address the ongoing foreclosure crisis. Earlier…

The Federal Trade Commission has returned approximately $12.7 million to consumers this week from a settlement with Andris Pukke and his companies, AmeriDebt, Inc. and DebtWorks, Inc. This consumer redress concludes the largest credit counseling/debt management deception case brought by…