The Government Accountability Office’s released a report yesterday backing a point the financial services industry has been making for years: the Financial Stability Oversight Council needs to open up about the process it uses to determine whether to label insurance companies, finance companies, asset managers, and other non-bank financial companies as “systemically important” and to subject them to bank-centric regulations established by the Federal Reserve.
The housing crisis may have happened nearly six years ago, but for nearly five million American homeowners, their homes are still underwater, according to data from the economic analytics firm Corelogic.
FSR and several other financial trade associations sent a joint letter to congressional leadership today calling for lawmakers to grant a two-year extension of the Mortgage Forgiveness Debt Relief Act, which prevents distressed homeowners from facing exorbitant income tax bills on the forgiven portion of their home loans.
The security of our personal data stored in cyber space -- as well as the dependability of key systems that utilize the Internet -- are now regularly under attack.
The Washington Post Editorial Board makes the case for why Congress needs to act immediately and pass cyber threat information sharing legislation.
At the Forefront of Technology and Finance
BITS, the technology policy division of FSR, addresses newly emerging technology and operational opportunities for the financial services industry. It has the expertise to help FSR’s members manage risk particularly in cybersecurity, fraud reduction and critical infrastructure protection. BITS helps shape public policy coming out of Washington and helps companies understand and stay ahead of the latest public policy issues. Because of its diverse membership, it facilitates collaboration to improve the e-commerce environment for member companies in ways that nobody else can.Read more
Advocating for Strength in the Housing Market
The Housing Policy Council is a division of FSR that advocates for the mortgage and housing marketplace interests of member companies in legislative, regulatory, and judicial arenas. HPC’s goal is to communicate the benefits of a fully competitive and integrated housing market to the American public. We work with regulators to represent our members’ interests in mortgage finance and housing issues to ensure the housing market continues to thrive and lending remains strong.Read more