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Fed Plans New Rules to Crack Down on Shady Lending Practices
Federal Reserve Chairman Ben Bernanke plans a clamp down on so-called "exotic mortgages" and high-cost loans to people with weak credit. He also wants to extend the kind of low-cost overnight loans that prevented the Wall Street banker Bear Stearns from collapsing before it was sold in March.
By Warren Olney • • 1 min readFederal Reserve Chairman Ben Bernanke plans a clamp down on so-called "exotic mortgages" and high-cost loans to people with weak credit. He also wants to extend the kind of low-cost overnight loans that prevented the Wall Street banker Bear Stearns from collapsing before it was sold in March. Paul Leonard is director of the California Office of the Center for Responsible Lending.
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The full episode
1 of 3Newspapers in Big Trouble, Should Americans Care?- 1:41Fed Plans New Rules to Crack Down on Shady Lending PracticesYou’re reading this
- 7:18Is the Newspaper Industry Stumbling? Crumbling?
- 42:46How Did Iraq's Uranium End Up in Canada?