News release: “The Federal Reserve Board on Wednesday approved an interim rule amending Regulation Z, which implements the Truth in Lending Act (TILA). The Board is issuing this interim rule to clarify certain aspects of a September 24, 2010 interim rule, in response to public comments. The September interim rule implements provisions of the Mortgage Disclosure Improvement Act (MDIA) which amended TILA to require mortgage lenders to disclose examples of how a loan’s interest rate or monthly payments can change. Those statutory amendments will become effective on January 30, 2011. The MDIA seeks to alert borrowers to the risks of payment increases before they take out mortgage loans with variable rates or payments. Under the Board’s September interim rule, lenders’ cost disclosures must include a payment summary in the form of a table stating the initial rate and corresponding periodic payment and, for adjustable rate loans, the maximum rate and payment that can occur during the first five years as well as a “worst case” example showing the maximum rate and payment possible over the life of the loan.”
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Daily Archives: December 21, 2010
Fannie Mae, Freddie Mac, and the Federal Role in the Secondary Mortgage Market
Fannie Mae, Freddie Mac, and the Federal Role in the Secondary Mortgage Market, December 22, 2010 “This study looks at how Fannie Mae and Freddie Mac evolved into the institutions they are today. As context for discussing future options, the study also examines both the rationales that are often cited for federal involvement in the… Continue Reading
Selected CBO Publications Related to Health Care Legislation, 20092010
Selected CBO Publications Related to Health Care Legislation, 20092010, December 22, 2010. “In March 2010, the Congress passed and the President signed into law legislation that makes major changes to the U.S. health care and health insurance systems. That legislation came in two parts: the Patient Protection and Affordable Care Act and the Health Care… Continue Reading
New Start arms control treaty with Russia
NYT: Arms Treaty With Russia Headed for Ratification: “An arms control treaty paring back American and Russian nuclear arsenals won a decisive vote in the Senate on Tuesday, clearing it for final approval and handing President Obama an important foreign policy victory. The Senate voted 67 to 28 to end debate on the treaty, known… Continue Reading
Oral Argument Set in EPIC Lawsuit to Suspend Airport Body Scanners
“The United States Court of Appeals for the District of Columbia Circuit has scheduled oral argument in EPIC’s case, No. 10-1157, against the Department of Homeland Security. The court set a March 10, 2011 date for the parties to present oral argument before the Court. EPIC filed suit against the Department of Homeland Security to… Continue Reading
New Study Released on Congressional Staff Pay and Congressional Competence
Via a posting to GOVDOC-L by Daniel Schuman, Director | Advisory Committee on Transparency, Policy Counsel | The Sunlight Foundation: “I’ve just released a significant report on the link between congressional staff pay and congressional competence. What makes it relevant to this list is that the research wouldn’t have been possible without a government document… Continue Reading
WaPo: CIA launches task force to assess impact of U.S. cables' exposure by WikiLeaks
Washington Post: “The CIA has launched a task force to assess the impact of the exposure of thousands of U.S. diplomatic cables and military files by WikiLeaks…To some agency veterans, WikiLeaks has vindicated the CIA’s long-standing aversion to sharing secrets with other government agencies, a posture that came under sharp criticism after it was identified… Continue Reading
2010 Financial Report of the United States Government
“The Citizens Guide to the Fiscal Year (FY) 2010 Financial Report of the U.S. Government presents the Nations financial position and condition of the U.S. Government and discusses key financial topics, including continuing economic recovery efforts and fiscal sustainability. Despite the severe economic downturn and recession that began at the end of 2007, the instability… Continue Reading
Great Recession Hit Hard at America's Working Poor: Nearly 1 in 3 Working Families in United States are Low-Income
Great Recession Hit Hard at America’s Working Poor – Nearly 1 in 3 Working Families in United States are Low-Income: The Working Poor Families Project, PolIcy Brief, Winter 2010-2011, Brandon Roberts, Deborah Povich and Mark Mather “The Great Recession hit hard at America’s working poor, increasing the number of low-income working families by 246,000 in… Continue Reading
Brookings – MetroMonitor: Tracking Economic Recession and Recovery in Americas 100 Largest Metropolitan Areas
MetroMonitor: Tracking Economic Recession and Recovery in Americas 100 Largest Metropolitan Areas Cities, Regions and States – Howard Wial, Fellow, Metropolitan Policy Program, Richard Shearer, Research Assistant, Metropolitan Policy Program – The Brookings Institution “In the nations 100 largest metropolitan areas, the economic recovery had two faces as of the third quarter of 2010 (ending… Continue Reading
