Realty Viewpoint: Federal Charter Banks Can't Have It Both Ways, Mr. Paulson

[hometowngrl53]

As foreclosures escalate, U.S. Treasury Secretary Henry Paulson is heading a presidential working group that he says wants more regulation on banks, including federal and state oversight on mortgage lenders.

What a difference a recession makes. Back in 2004, it was the Office of the Comptroller of the Currency, a division of the Treasury that oversees banks, that issued new rules that national banks should be exempt from state oversight.


read here http://realtytimes.com/rtpages/20080...yviewpoint.htm

[flippinout]

I believe that banks and lenders need the regulation on all levels. That way it keeps their lending practices honest. Also, banks and lenders should do more looking into of the assets that borrowers say they have before the loans are approved. It could mean the difference in the ability to pay back the loans in the long run.

[badmomma]

Well I think its important to have someone watching the banks. If they aren't they are going to go back to practices that aren't good for the public or the nation. It is part of the reason we are where we are in the housing market today, isn't it?

[thohome]

I totally agree badmomma.. We need to keep and I on the practices of banks and loan offices.. If they know there being watched there less likely to over charge the costomer and fewer people won't be over extended when it comes to there loans.