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We Need To Know The Truth About Basel III
WORD ON THE STREET: The primary goal of Basel III is to strengthen bank capital requirements. This is a worthy goal, as strong capital requirements are essential for a safe and sound banking system...
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Yesterday, Today And Tomorrow In Housing
WORD ON THE STREET: The multiyear boom and bust in housing prices of the past decade, together with the sharp increase in mortgage delinquencies and defaults that followed, were among the principal...
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Has The Federal Reserve Weakened The Economy?
WORD ON THE STREET: The last five years have been an extraordinary time for the global economy and monetary policymakers. The financial crisis and the severe global recession that followed have tested...
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The National Mortgage Settlement: 2012’s Triumph
WORD ON THE STREET: As 2012 draws to a close, Americans are starting to feel a sense of hope about our economy for the first time in half a decade – and a big reason is a rebound in the housing...
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The Long Recovery From Hurricane Sandy
WORD ON THE STREET: Hurricane Sandy and the nor'easter that followed have had immense and varied impacts in New York, New Jersey, Connecticut, West Virginia, Maryland and a number of other states....
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Ensuring A New Wave Of Homeowners
WORD ON THE STREET: We can all agree that many factors contributed to the housing crisis. First, the loose underwriting standards employed by aggressive mortgage brokers and originators made it...
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Why We Need To Reform The Credit Report Process
WORD ON THE STREET: Credit reporting plays a critical role in consumers' financial lives. Credit reports on consumers' financial history and behavior can determine their eligibility for credit cards,...
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Taking A New Look At Financial Oversight
WORD ON THE STREET: Many remain skeptical of claims that the financial system has been reformed and that taxpayer bailouts are relics of the past. Such skepticism is understandable. For nearly a...
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Why The CFPB Issued Its New Lending Rules
WORD ON THE STREET: Just a few years ago, our country went through the greatest financial crisis since the Great Depression. One of the reasons for the collapse was that mortgage borrowers were...
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The Economy: It’s Getting Better, But…
WORD ON THE STREET: The U.S. economy has grown at an average 2.2% annual rate since the recovery officially began in June 2009. Data suggest that growth was likely a bit below that rate for the most...
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The OCC’s Priorities
WORD ON THE STREET: It has been a year and a half now since most of the people and most of the functions of the Office of Thrift Supervision were integrated into the Office of the Comptroller of the...
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Why The Justice Department Is Suing S&P
WORD ON THE STREET: Standard & Poor's Rating Services (S&P) is the largest credit rating agency in the world. As such, it plays a unique role on Wall Street. Many investors and financial...
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How To Encourage Economic Growth
WORD ON THE STREET: There is an ongoing debate about the extent to which the causes of weak labor markets are structural or cyclical. The cyclical view maintains that the problem is just a deficit of...
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The Time Is Right For Tax Reform
WORD ON THE STREET: Winston Churchill once said, ‘However beautiful the strategy, you should occasionally look at the results.’ The need to overhaul the U.S. tax code seems obvious. Today, the code is...
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Going Right In The Wrong Direction
WORD ON THE STREET: We are clearly in the midst of the slowest and weakest recovery in the postwar era, notwithstanding what we have observed to be the largest fiscal and monetary stimulus in our...
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Perhaps We Should Consider Eliminating The GSEs?
WORD ON THE STREET: Federal housing policies related to the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, have proved costly not only to the federal taxpayer, but also to the...
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So, Why Has The Recovery Been So Tepid?
WORD ON THE STREET: The decentralized structure of the Fed is one of its most important features. It has deep roots in our nation's federalist structure. Independent Federal Reserve Banks ensure that...
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The CFPB’s Pursuit Of Economic Justice
WORD ON THE STREET: The economic marketplace can be quite hostile to those in poverty or those whom society marginalizes for any reason. In today's economy, almost two-thirds of our households of...
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HUD’s Commitment To Fair Housing
WORD ON THE STREET: Celebrating Fair Housing Month each April is always special – it gives us the chance to reaffirm the U.S. Department of Housing and Urban Development's (HUD) commitment to creating...
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A CDFI Solution For Tribal Housing Problems
WORD ON THE STREET: Recently, our country has gone through an economic downturn that many have described as the worst recession since World War II. This economic reality is greatly magnified in Indian...
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