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Tag Archives: treasury department

FDIC chairman Sheila Bair to step down in July, ending 5-year term

WASHINGTON — Sheila Bair is stepping down as chairman of the Federal Deposit Insurance Corp. this summer, ending a five-year term in which she helped craft the government’s response to the 2008 financial crisis. Bair will leave her post as ...

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Spending cuts not expected to dent $1.5T deficit

WASHINGTON — The $38 billion in spending cuts agreed to last week won’t prevent this year’s budget deficit from setting another record high, estimated at $1.5 trillion. The Treasury Department is reporting that the deficit already totals $829.4 billion through ...

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House panel’s bill would end foreclosure program

WASHINGTON — A House committee plans to write legislation next week ending the Obama administration’s flagship effort for helping struggling homeowners avoid foreclosure and abolishing three other housing assistance programs. At its meeting next Thursday, the highest-profile target of the ...

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White House plan lays out strategy for winding down Fannie, Freddie

WASHINGTON — The Obama administration is laying out three broad options for overhauling the mortgage lending system, but will let Congress make the final decision. The Treasury Department says in a report released Friday that the government should withdraw its ...

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Fed pays US Treasury record $78.4B last year

WASHINGTON — The Federal Reserve paid a record $78.4 billion in earnings to the U.S. government last year, reflecting gains from the central bank’s unconventional efforts to lift the economy. The payment to the Treasury Department is the largest since ...

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