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Volume 2010 - Number 6

February 12, 2010

GAO Says TALF Program Presents Unnecessary Risks; Treasury Balks at Recommendations

The Government Accountability Office said the Federal Reserve could do more to minimize risk to the government from the Term ABS Loan Facility, but the program’s administrators said the GAO understated TALF’s success and overstated the risk involved. TALF, administrated by the Federal Reserve Bank of New York, can lend up to $200 billion to certain eligible borrowers in return...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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Poll

The Consumer Financial Protection Bureau is completing its first six months of operation. Based on the agency’s regulatory pronouncements and announcements to date, how do you think the agency is doing?

It’s doing a good job of balancing consumer protections with regulating the mortgage industry.
It’s too early to tell what kind of job the CFPB is doing.
It’s not needed and should be closed down.

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Housing Pulse

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