By Winthrop Quigley
Albuquerque Journal
Most of New Mexico’s smaller banks survived the 2008 financial panic and the worst recession since the 1930s in pretty good shape. They are not so sure they can survive new federal regulations put in place in response to the panic.
Thomas M. Hoenig, who is retiring as president of the Kansas City Federal Reserve Bank this month, said in an… Read more »
By Winthrop Quigley
Albuquerque Journal
SANTA FE — Bankers looking for understanding and support as they struggle with new federal regulations need look no further than the third floor of the Toney Anaya Building on Cerrillos Road where the state’s chief financial institutions regulator has her office.
Cynthia Richards, who was appointed in July, finds many of the… Read more »
Paul Wyche
The Journal Gazette
Recessions come and recessions go, but the one constant economic rejuvenator has remained housing.
That is the mantra of Rick Davidson, president and CEO of Century 21 Real Estate, who was in Fort Wayne on Tuesday to attend the grand opening of Century 21 Bradley Realty Inc.’s new branch at the Dupont Place strip mall, 2928 E. Dupont Road.
“Nationally,… Read more »
Outside Washington, D.C., there is growing concern about the regulatory burden imposed by the Dodd-Frank Act and the harmful effect it will have on jobs.
Cynthia Richards, New Mexico’s Financial Institutions Division director, tells the Albuquerque Journal that the Dodd-Frank Act is “onerous,” “costly,” “confusing,” and “difficult to implement.”
“When we see this act fully implemented… Read more »
Today’s American Banker includes a dead-on piece about how the Dodd-Frank Act, with its 2,300 pages and more than 400 regulations, is “regulatory overkill” with unintended consequences that hurt consumers and the economy.
“It's a fool's mission for our government to try to micro-manage our financial system — and for all the lip-service paid to balancing regulation and markets,… Read more »
The Washington Post reports today on another failure of one of the Obama Administration’s foreclosure mitigation programs.
In an article headlined “HUD program to help struggling homeowners falling short,” the Post notes this is “the latest in a series of efforts that has left funds allocated by Congress unspent and has failed to help as many” borrowers as promised.
The Emergency… Read more »
By Claude R. Marx
WASHINGTON — House Financial Services Committee Chairman Spencer Bachus said Tuesday an overabundance of regulation is hampering the nation’s economic recovery.
“Regulation is killing America,’’ the Alabama Republican told NAFCU’s Congressional Caucus at the Mayflower Hotel. He said the government issues a new regulation once every two hours and 20… Read more »
By NAFCU
September 21, 2011
Regulatory overreach was a recurring theme during NAFCU’s Congressional Caucus Tuesday, with House Financial Services Committee Chairman Spencer Bachus, R-Ala., urging attendees to tell lawmakers how credit unions are being impacted.
To illustrate the excessive number of regulations under the Dodd-Frank law,… Read more »
Financial Services Committee Chairman Spencer Bachus today issued the following statement about the Capital Markets and Government Sponsored Enterprises Subcommittee’s hearing on small business capital formation and job creation:
"Today’s hearing continues the Committee’s ongoing efforts to promote policies that restore growth to our economy, support capital formation, and create… Read more »
NOTE: Today, the Capital Markets and Government Sponsored Enterprises Committee held a legislative hearing on H.R. 2940, and four additional proposals, aimed at promoting small business capital formation by removing government roadblocks.
By Rep. Kevin McCarthy
Special to Roll Call
Sept. 21, 2011, Midnight
Twenty-six years ago, I started a small business: a deli I creatively named… Read more »
