House Oversight Panel Scrutinizes Payments to Third Parties from Banks’ RMBS Settlements
May 27, 2016
A heated partisan debate broke out during a House subcommittee hearing late last week on whether multi-billion dollar settlements designed to resolve legacy MBS cases undermine Congress’ power to appropriate funds. Democrats and Republicans on the House Financial Services Subcommittee on Oversight and Investigations debated whether federal law allows banks to donate money to third-party charities to fulfill some of its settlement obligations. Ranking Minority member Al Green, D-TX, said...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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