Financial Regulatory Forum

Bank ‘mystery shoppers’ can help ensure adherence to abusive practice rules, expert says

By Ted Knutson

WASHINGTON/NEW YORK, April 17 (Thomson Reuters Accelus) -┬áThe use of “mystery shoppers” and focus groups to test the compliance of bank employees has broadened beyond the traditional topic of lending discrimination to now include uncovering and avoiding violations of unfair, deceptive and abusive practice, an industry consultant said.

Paul Lubin, senior director at Treliant Risk Partners, said such testing can raise bank revenue as well as help to insure employees are adhering to rules. (more…)

U.S. considers “bad bank” split of Fannie Mae, Freddie Mac – report

WASHINGTON, Aug 5 (Reuters) – The Obama administration is considering splitting Fannie Mae and Freddie Mac and putting their troubled assets in a new federally backed corporation, The Washington Post reported on Wednesday, citing administration officials. (more…)

U.S. wants lenders to speed up mortgage aid

U.S. Treasury Secretary Timothy Geithner WASHINGTON, July 28 (Reuters) – Senior U.S. housing officials and leading mortgage companies met on Tuesday to set explicit goals for preventing evictions and helping struggling borrowers with their home loans.