Government Information

Earl Gregg Swem Library

Office of the Special Inspector General to the Troubled Assets Relief Program Quarterly Report to Congress, October 2016

Categories: Business/Economics,Crime/Justice,Financial Crisis/Markets,Headlines

http://www.sigtarp.gov/Quarterly%20Reports/October_26_2016_Report_To_Congress.pdf

Includes a widely noted proposal that Congress remove the insulation around Wall Street CEOs by requiring senior executives to sign an annual certification that there is no criminal conduct or civil fraud in their organization.  The proposal would motivate CEOs to institute strong internal antifraud controls and make easier the prosecution of CEOs at large errant Wall Street firms.  From the Office of the Special Inspector General for TARP

 

Recent Trends in U.S. Services Trade: 2016 Annual Report

Categories: Business/Economics,Financial Crisis/Markets,Foreign Trade/Investment,Statistics

https://www.usitc.gov/publications/332/pub4643.pdf

Presents an overview of recent U.S. trade in services and highlights some of the service sectors and geographic markets that contributed substantially to recent service trade performance.  The 2016 report focuses on financial services.  From the U.S. International Trade Commission

 

The Effects of Increasing Fannie Mae’s and Freddie Mac’s Capital

Categories: Financial Crisis/Markets,Govt Finance,Housing/Homelessness

https://www.cbo.gov/sites/default/files/114th-congress-2015-2016/reports/52089-gse-report.pdf

Examines a scenario where the two government-sponsored enterprises would be allowed to retain an average of $5 billion of their profits annually to invest in Treasury securities and expand the amount available for mortgage underwriting.  From the Congressional Budget Office

 

Enhanced Cyber Risk Management Standards

Categories: Business/Economics,Consumer Info/Protection,Financial Crisis/Markets,Headlines,Laws/Regulations

https://www.occ.treas.gov/news-issuances/news-releases/2016/nr-ia-2016-131a.pdf

Proposed regulation on establishing minimum standards for large financial institutions to protect against and respond to hackers who try to penetrate customer financial accounts.  From the Federal Reserve, FDIC, and Office of the Comptroller of the Currency

 

PHH Corporation v. Consumer Financial Protection Bureau

Categories: Financial Crisis/Markets,Govt Processes/Organization,Headlines,Laws/Regulations,Supreme Court/courts

https://www.cadc.uscourts.gov/internet/opinions.nsf/AAC6BFFC4C42614C852580490053C38B/$file/15-1177-1640101.pdf

Circuit court decision by a divided three judge panel that calls into question the constitutionality of the Consumer Financial Protection Bureau.   At issue is whether the CFPB, as an independent federal agency, can be constitutional if headed by a single person rather than a multi-member commission.  PHH, a mortgage lender, had objected to enforcement actions of the CFPB.  From the Court of Appeals for the District of Columbia Circuit.

 

The Financial CHOICE Act: Policy Issues

Categories: Consumer Info/Protection,Financial Crisis/Markets,Laws/Regulations

http://www.fas.org/sgp/crs/misc/R44631.pdf

Highlights major proposals included in a bill designed to modify or repeal changes to financial policies and regulatory structure brought about by the Dodd-Frank Act of 2010.  From the Congressional Research Service, posted by the Federation of American Scientists

 

Report and Recommendations: Fighting Elder Financial Exploitation Through Community Networks

Categories: Consumer Info/Protection,Elderly,Financial Crisis/Markets

http://files.consumerfinance.gov/f/documents/082016_cfpb_Networks_Study_Report.pdf

This report presents recommendations to existing networks to enhance their community’s collaborative efforts to fight financial exploitation of elderly people.  Offers nine specific recommendations.  From the Consumer Financial Protection Bureau

 

Puerto Rico v. Franklin Cal. Tax-Free Trust

https://www.law.cornell.edu/supremecourt/text/15-233

5-2 Supreme Court decision that the government of Puerto Rico cannot pass legislation to enable public utility corporations to restructure their debt.   The court held that the federal Bankruptcy Code  pre-empts Puerto Rico’s Recovery Act.  From the Cornell University Law School Legal Information Institute

 

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