Banking Report Index-Summary

LATIN AMERICA

See also specific countries
– S&P Rating Servs. banking industry report shows low external-funding dependence and sustained adequate liquidity but declining asset quality, 92:1130

LATVIA

– Antitrust, investigation into JSC Parex Banka to focus on whether restructuring plan can restore long-term viability, 93:248

LEASING

– Accounting, lessor treatment of obligations arising from leasing arrangements, FASB to include questions in forthcoming decision paper, 92:135
– Canada, lease financing for vehicles and household property, finance minister seeks public comment on proposal to allow banks to participate, 92:1076
– Lease-in/lease-out (LILO) transactions, Altria tax refund claim rejected (S.D.N.Y.), 93:82
– Sale-in/lease-out (SILO) transactions

– – Altria tax refund claim rejected (S.D.N.Y.), 93:82
– – Reform, tax-advantaged leases focus of debate following fatal subway collision, 92:1481

LEGISLATION, FEDERAL

– Ed. Note: This heading covers bills with assigned numbers only. For information on measures not yet assigned numbers, see specific subject headings.
– House

– – HJRes 3, TARP disbursements, House rejects use of 2nd round of $350B in TARP funding, 92:176
– – HR 1, American Recovery and Reinvestment Act, House passes bill, 92:257; major tax provisions of bill, 92:257; bipartisan agreement survives key procedural hurdle, 92:321; bill to allow state financing authorities to sell tax-exempt debt to banks on terms that encourage lending, 92:330; bill gives Treasury Dep't and SEC authority to regulate bonuses at companies receiving TARP funds, 92:366; bill contains language to overturn Notice 2008-83, 92:367; private investors disappointed and surprised by limited net operating loss carryback period in bill, 92:376
– – HR 200, Helping Families Save Their Homes in Bankruptcy Act, Judiciary Comm. hears testimony from panel of witnesses supporting bill, 92:187; Judiciary Comm. approves bill, 92:252; CRS report analyzes primary residence exemption, 92:436
– – HR 225, Emergency Homeownership and Equity Protection Act, Judiciary Comm. hears testimony from panel of witnesses supporting bill, 92:187; CRS report analyzes primary residence exemption, 92:436
– – HR 384, TARP Reform and Accountability Act, Frank (D-Mass) plans fast action on bill with new mandates for use of TARP funds, 92:57; House defers final vote on bill, 92:125; House passes bill, 92:176
– – HR 627, Credit Cardholders' Bill of Rights Act, compliance with 90-day implementation period may not be possible, FRB official tells Financial Servs. panel, 92:680; Financial Servs. panel approves bill, 92:789; Financial Servs. Comm. approves bill, 92:980; House approves bill, 92:1038; Dodd (D-Conn) introduces substitute bill as manager's amendment, 92:1091; Senate leaders plan to invoke cloture soon, 92:1141; Pres. Obama signs bill, 92:1192; Frank (D-Mass) moves to push up deadline, 93:556
– – HR 703, Bank liquidity, deposit insurance limits, and HOPE for Homeowners program, Financial Servs. Comm. plans to mark up bill soon, 92:251; bill to extend FDIC increase on bank deposit insurance until 2016, 92:259
– – HR 711, Hedge Fund Adviser Registration Act, members of Financial Servs. panel agree with hedge fund representatives on essential registration step, 92:1114
– – HR 786, FDIC limit extension, Financial Servs. Comm. approves bill to keep $250,000 cap until 2016, 92:323; Kanjorski (D-Pa) amendment gives NCUA 5 years to replenish insurance fund, 92:344
– – HR 787, HOPE for Homeowners program improvements, Financial Servs. Comm. approves several changes to FHA program, 92:323
– – HR 885, Improved Financial and Commodity Market Oversight and Accountability Act, Senate Homeland Security and Governmental Affairs Comm. passes bill, 93:217
– – HR 1000, Helping Families Save Their Homes in Bankruptcy Act, Citigroup agrees to support bill to allow bankruptcy courts to modify home mortgage loans at risk of foreclosure, 92:60; CRS report analyzes primary residence exemption, 92:436
– – HR 1105, Omnibus Appropriations Act, financial services industry urges Senate to undo provision granting FTC and state attorneys authority to regulate independent mortgage brokers under TILA, 92:559
– – HR 1106, Helping Families Save Their Homes Act, House debates consensus provisions of primary residence exception bill, 92:475; CRS report outlines differences from other bills, 92:475; House passes revised bill after narrowing bankruptcy language, 92:539
– – HR 1207, Federal Reserve Transparency Act, allowing broader audit activities by GAO would undermine FRB independence, Kohn says, 93:59; Frank (D-Mass) says new audits should not examine monetary policy, 93:386; bill moves closer to passage, 93:561
– – HR 1265, Stop Tax Havens Abuse Act, Congress unlikely to pass bill with offshore secrecy jurisdiction provision, attorney says, 92:1262; Doggett (D-Texas) to keep pushing for passage of bill, 93:179
– – HR 1319, Peer-to-peer file-sharing software protection, Energy and Commerce Comm. passes Bono-Mack (R-Cal) bill, 93:630
– – HR 1348, Federal Reserve Sunshine Act, Paul (R-Texas) introduces bill to require GAO to conduct audit by end of 2010, 93:130
– – HR 1349, Federal Accounting Oversight Board creation, Perlmutter (D-Colo) and Lucas (R-Okla) introduce bill to supervise GAAP implementation, 92:563
– – HR 1479, Community Reinvestment Act scope expansion, proponents urge lawmakers to strengthen data collection mandate, 93:517
– – HR 1586, AIG bonus clawback, Senate Democrats hope to vote on measure soon, 92:677
– – HR 1664, Standards for executive compensation, Financial Servs. Comm. approves bill, 92:733; House passes bill, 92:791
– – HR 1728, Mortgage Reform and Anti-Predatory Lending Act, Financial Servs. Comm. hears testimony on bill to amend TILA and overhaul mortgage lending standards, 92:989; Financial Servs. Comm. approves bill, 92:1043; House passes bill, 92:1092; bill requires mortgage lenders to use IRS tax records to verify income of potential borrowers, 92:1093
– – HR 1748, Fight Fraud Act, Judiciary Comm. approves bill to combat mortgage, commodity, and securities fraud, 92:1042
– – HR 1880, National Insurance Consumer Protection Act, trade groups recommend basic principles for optional federal regulator, 92:1047; trade groups ask for option of continuing to be regulated at state level, 92:1102; bill may help establish federal insurance office, 92:1429
– – HR 1961, Savings for American Families' Future Act, Pomeroy (D-ND) introduces measure to expand Saver's Credit program, 92:875
– – HR 2034, Rural Homeowners Protection Act, House passes bill allowing refinancing of more Rural Housing Service guaranteed loans, 93:216
– – HR 2221, Data Accountability and Trust Act, Rush (D-Ill) reintroduces bill to require firms to implement data security programs and data breach notification systems, 92:1106; Energy and Commerce panel passes amended version of bill, 92:1304; Energy and Commerce Comm. passes bill, 93:630
– – HR 2266, Reasonable Prudence in Regulation Act, bill to delay by one year compliance with rules implementing UIGEA, 93:184
– – HR 2267, Internet Gambling Regulation, Consumer Protection, and Enforcement Act, bill garners wide support from industry, 93:184
– – HR 2268, Internet Gambling Regulation and Tax Enforcement Act, bill to require all licensed entities to pay prorated monthly fee, 93:184
– – HR 2309, Consumer Credit and Debt Protection Act, GOP members of Energy and Commerce panel criticize potential inconsistencies, 92:1153; Energy and Commerce panel reports manager's amendment to bill, 92:1305
– – HR 2336, Green Resources for Energy Efficient Neighborhoods Act, bill step in right direction but needs some work, construction and lending interests say, 92:1380; HUD to “re-engineer” FHA mortgage products to support energy efficiency lending, 92:1438
– – HR 2351, Credit Union Share Insurance Stabilization Act, Kanjorski (D-Pa) bill to create temporary rescue fund, 92:1152
– – HR 2382, Credit Card Interchange Fees Act, Welch (D-Vt) bill to amend TILA to prohibit certain electronic payment practices, 93:625; retailers, banks, and lawmakers disagree on necessity of bill, 93:674
– – HR 2529, Neighborhood Preservation Act, House passes bill authorizing FDIC-insured banks to allow foreclosed borrowers to rent their homes, 93:216
– – HR 2562, Service Members Home Ownership Act, Kind (D-Wis) introduces bill to provide yearlong extension to certain active duty members, 92:1261
– – HR 2606, Tax code amendment, Johnson (D-Tex) bill to expand tax credit to all home buyers, 92:1261
– – HR 2619, Tax code amendment, Marchant (R-Tex) bill to expand tax credit to all home buyers and offer credit to certain refinancing packages, 92:1261
– – HR 2623, Expansion of definition of persons in federal securities laws, House approves bill, 93:234
– – HR 2676, Administrative Support and Oversight of Community Financial Institutions Act, Cardoza (D-Cal) measure to establish new Treasury Dep't assistant secretary and ombudsman, 92:1313
– – HR 2695, Credit Card Fair Fee Act, Conyers (D-Mich) says bill would help make transactions fair for merchants, 93:625
– – HR 2897, Bank Accountability and Risk Assessment Act, Gutierrez (D-Ill) bill to require FDIC to assess risk-based deposit insurance premiums, 92:1429
– – HR 2910, S Corporation Modernization Act, tax professionals and small business groups praise bill, 92:1486
– – HR 3068, TARP for Main Street Act, lawmakers spar over Frank (D-Mass) proposal to recycle dividends into housing aid, 93:52
– – HR 3126, Consumer Financial Protection Agency Act, Frank (D-Mass) introduces bill to establish financial products oversight agency, 93:62; state attorneys general urge congressional leaders to pass bill quickly, 93:321; U.S. Chamber of Commerce kicks off campaign to block proposed agency, 93:434; Frank releases revised version of bill, 93:555; Financial Servs. Comm. plans to vote on bill soon, 93:613; Frank schedules markup, 93:670; car dealers urge Frank to ease burden of fees imposed by bill, 93:688; Financial Servs. Comm. to consider proposed amendments to bill, 93:711; Financial Servs. Comm. passes bill, 93:767
– – HR 3139, National Flood Insurance Program authorization extension, Waters (D-Cal) and Frank (D-Mass) introduce bill, 93:75; House approves bill, 93:235
– – HR 3145, Credit Default Swap Prohibition Act, Waters (D-Cal) introduces bill to ban CDS and to give SEC more power over security-based swaps, 93:181
– – HR 3153, Transparent Markets Act, Larson (D-Conn) introduces bill to tax OTC derivatives transactions, In Brief, 93:76
– – HR 3170, Financial regulatory agency FY2010 appropriations, bill passes House with tighter regulation, increased enforcement, and more small business lending, 93:124
– – HR 3179, SIG TARP Small Business Awareness Act, House approves bill under suspension of rules, 93:523
– – HR 3221, Student Aid and Fiscal Responsibility Act, Education and Labor Comm. approves bill, 93:180; supporters and opponents of bill battle over cost-savings projections, 93:221; House passes bill, 93:514
– – HR 3269, Corporate and Financial Institutions Compensation Fairness Act, bill heads for likely House vote soon, 93:175; House approves bill, 93:214; witnesses advise Senate Banking panel to proceed cautiously with shareholder empowerment proposals, 93:270; speakers express concern about say-on-pay provisions, 93:334
– – HR 3357, Guaranty authority increases for FHA and Ginnie Mae, Senate passes bill, 93:216
– – HR 3380, Promoting Lending to America's Small Business Act, Kanjorski (D-Pa) and Royce (R-Cal) introduces bill, 93:241
– – HR 3506, Eliminate Privacy Notice Confusion Act, bipartisan bill exempts financial services institutions from annual requirement, 93:282
– – HR 3594, TARP Recipient Ownership Trust Act, Bachus (R-Ala) introduces bill to require creation of independent trust, 93:513
– – HR 3606, Credit CARD Technical Corrections Act, House approves correction to CARD Act, 93:724
– – HR 3639, Expedited CARD Reform for Consumers Act, Frank (D-Mass) schedules bill for Financial Servs. Comm. markup, 93:670; witnesses focus on technical challenges, abuses, and access problems during hearing, 93:675
– – HR 3723, Small Business Credit Expansion and Loan Markets Stabilization Act, House panel approves bill, 93:695
– – HR 3737, Small Business Microlending Expansion Act, House panel approves bill, 93:695
– – HR 3763, FCRA exclusions for certain businesses, Frank (D-Mass) schedules bill for Financial Servs. Comm. markup, 93:670; Am. Bar Ass'n says bill does not go far enough, 93:739; House approves bill, 93:778
– – HR 3795, Over-the-Counter Derivatives Markets Act, Frank (D-Mass) schedules draft bill for consideration by Financial Servs. Comm., 93:670; Gensler and Hu point out potential issues in draft bill, 93:688; Financial Servs. Comm. passes bill, 93:717; House members seek to respond to end-user concerns, 93:798
– – HR 3854, SBA capital initiative modernization, Small Bus. Comm. approves bill, 93:774

– Senate

– – SJRes 5, TARP allocations, Senate defeats GOP effort to block Obama administration access to remaining $350B in TARP funds, 92:125
– – S 1, Economic stimulus package, Democrats and Republicans draw battle lines, 92:257
– – S 61, Helping Families Save Their Homes in Bankruptcy Act, Citigroup agrees to support bill to allow bankruptcy courts to modify home mortgage loans at risk of foreclosure, 92:60; CRS report analyzes primary residence exemption, 92:436
– – S 312, First-Time Homebuyers Tax Credit Act, Cardin (D-Md) and Ensign (R-Nev) introduce bill, 92:273
– – S 331, Supplemental Anti-Fraud Enforcement for our Market (SAFE Markets) Act, Schumer (D-NY) and Shelby (R-Ala) introduce bill to hire federal financial fraud staff, 92:189
– – S 383, Special IG for TARP, House Financial Servs. Comm. approves bill to help with oversight staffing, 92:619
– – S 386, Fraud Enforcement and Recovery Act, Judiciary Comm. approves bill, 92:541; bill to clarify that futures and options trading in mortgage-backed securities covered by general federal statute, 92:553; floor vote scheduled soon, 92:983; Senate passes bill, 92:1042; House passes bill with changes, 92:1093; bill signed by Pres. Obama gives federal authorities new powers over broad range of financial crimes, 92:1197
– – S 414, Consumer Credit Protection Act, Crapo (R-Idaho) amendment to expand borrowing authority for FDIC and NCUA, 92:787
– – S 506, Stop Tax Haven Abuse Act, lawmakers reintroduce bill to punish abusive use of overseas tax havens, 92:557; attorney says Congress unlikely to pass bill with offshore secrecy jurisdiction provision, 92:1262; Doggett (D-Texas) to keep pushing for passage of bill, 93:179
– – S 513, Federal Reserve Transparency Act, Sanders (I-Vt) introduces bill to require website publication of identity of entities receiving federal assistance, 93:130
– – S 515, Patent Reform Act, Judiciary Comm. approves modified version of bill with curtailed damages provision, 92:807
– – S 604, Federal Reserve Sunshine Act, Sanders (I-Vt) introduces bill to require GAO to conduct comprehensive audit by end of 2010, 93:130
– – S 651, AIG bonus clawback, Democrats hope to vote on measure soon, 92:677; Baucus (D-Mont) vows to move ahead on bill, 92:804
– – S 896, Helping Families Save Their Homes Act, Democrats press forward on bill after failure of key bankruptcy provision, 92:1041; Senate passes bill, 92:1091; Pres. Obama signs bill, 92:1194
– – S 949, 21st Century Technology Deployment Act, Bingaman (D-NM) and Murkowski (R-Alaska) introduce measure to revise and expand DOE loan guarantee program, 92:1062
– – S 1006, Excessive Pay Shareholder Approval Act, Durbin (D-Ill) bill to require annual shareholder approval of executive pay, 92:1151
– – S 1023, Travel Promotion Act, Hatch (R-Utah), Lincoln (D-Ark), and Corker (R-Tenn) propose amendment to prevent TARP from serving as revolving fund, 92:1483
– – S 1212, Credit Card Fair Fee Act, Durbin (D-Ill) bill allows merchants to negotiate interchange fees with issuers, 93:625
– – S 1490, Data security, Leahy (D-Vt) calls passing bill among “highest legislative priorities,” 93:630
– – S 1504, Notice Pleading Restoration Act, Specter (D-Pa) introduces bill to restore pleading standards, 93:193
– – S 1540, Resolution Reform Act, Corker (R-Tenn) and Warner (D-Va) introduce bill to allow FDIC to wind down bank holding firms, 93:224
– – S 1592, Federal Board of Certification Act, Snowe (R-Maine) and Cardin (D-Md) introduce bill to establish board for mortgage-backed securities, 93:338
– – S 1615, Next Step for Main Street Credit Availability Act, Snow (R-Me.) introduces bill to increase small business owners' access to credit, 93:278
– – S 1678, First-time home buyer tax credit extension, Cardin (D-Md) introduces bill to push back final date by 6 months, 93:522

LICENSING

– Mortgage lenders, brokers, and loan originators

– – N.J. governor signs measure into law, 92:1120
– – Or. state lawmakers pass measure requiring loan originators to obtain license, 93:22

– Payday loan lenders, Kans. statute applies to instate internet loans and does not violate Commerce Clause (10th Cir.), 92:31

LIECHTENSTEIN

– Tax havens

– – OECD removes from 2002 list of uncooperative jurisdictions, 92:1286
– – Right to financial privacy defended, 93:816
– – U.S. information exchange, lawmakers grant final approval to new law, 93:544

LIQUIDITY

– Asset-Backed Commercial Paper Money Market Fund Liquidity Facility (AMLF), FRB temporarily relaxes certain rules, 92:261; FRB extends program for 6 months, 92:321
– Balance sheet expansion to keep credit flowing and support economy, FRB says, 92:663; Federal Open Market Comm. statement, text, 92:663; economists describe FRB and Treasury Dep't initiatives as aggressive and effective boosts, 92:790
– Capital markets, Term Auction Facility operations

See MONETARY POLICY

– Collateral for discount window loans, FRB to modify calculations, 93:320
– Currency swap arrangements to benefit U.S. institutions, FRB announces, 92:794
– Federal assistance

– – Increasing health in financial markets easing demand on special programs, FRB says, 93:65
– – Innovative programs enacted by FRB in response to crisis more effective in addressing illiquidity, FRB N.Y. paper says, 93:429

– Federal Reserve Credit and Liquidity Programs and Balance Sheet, FRB debuts monthly report on central bank assets and liabilities, 92:1362
– Germany, nationwide credit crunch might occur in 2010, economics minister says, 93:38
– International agreement on higher regulatory capital and liquidity standards for global banking firms, Treasury Dep't lays out policy goals, 93:422
– Japan begins considering ending purchase of commercial paper and corporate bonds as part of unwinding financial rescue plan, 93:701
– Money Market Investor Funding Facility (MMIFF), FRB widens eligibility and adjusts some boundaries of program, 92:63; FRB extends program for 6 months, 92:321; FRB opts against renewing program, 92:1475
– Risk management

– – FDIC board approves publication of proposed interagency guidance, 92:1477
– – Harmonization of standards, federal regulators seek comment on guidelines for requirements to align with Basel Comm. rules, 93:14

– State and local HFAs, Obama administration announces initiatives to help support new lending, 93:721
– TALF

See TERM ASSET-BACKED SECURITIES LOAN FACILITY (TALF)

– Temporary Liquidity Guarantee Program (TLGP)

– – Debt guarantee extension, FDIC board votes to ease transition, 92:666; FDIC board offers 2 options for winding down program, 93:426; FDIC board approves final rule to phase out component of program, 93:789
– – Effective dates, FDIC to propose extension to 10 years, 92:126
– – National banks with senior unsecured debt guaranteed under TLGP, issuers do not have to register that debt with OCC, 92:269
– – Transaction Account Guarantee (TAG) program phaseout, FDIC to seek 2 alternatives under proposed rule, 92:1477; FDIC extends program for 6 months but includes increased fees based on risk, 93:380

– Term Auction Facility (TAF)

See MONETARY POLICY

– Tri-party repurchase market, FRB final rule temporarily exempts insured depositories from §23A limitations, 92:261

LITIGATION

– Ed. Note: For lower court cases, see specific subject headings. For Supreme Court actions, see SUPREME COURT, U.S.
– Financial crisis brings surge in securities suits against banks, Analysis and Perspective, 92:457

LOAN MODIFICATION

– Advance fees, Cal. measure to ban collection by consultants wins final approval from state lawmakers, 93:447
– Bankruptcy

– – Cramdowns, Senate Judiciary Comm. revisits option to help struggling homeowners, 93:177; Frank (D-Mass) to renew effort to pass measure, 93:432
– – Hill Watch, 93:478
– – House measure

See LEGISLATION, FEDERAL, HR 1000

– – Senate measure

See LEGISLATION, FEDERAL, S 61

– – State attorneys general from 22 states and D.C. urge Congress to allow courts to order adjustments for primary residences, 92:63

– Countrywide Financial agrees to set up homeowner program and pay restitution for certain residents (Tex. Dist. Ct.), 92:390
– Data collection, federal regulators expand criteria to include more detailed information on loan workouts, 92:372
– Foreclosure moratorium

– – Fannie Mae and Freddie Mac announce extension to allow implementation of loan modification programs, 92:79
– – Mich. measure gives borrowers time and access to housing counselors to work out modifications, 92:1168

– Fraud

– – Advertising, 2 firms must stop false advertising implying membership in government-endorsed network (D.N.J.), 92:763
– – Consumer protection, FTC seeking public comment on crafting rules, 92:1252
– – Coordinated enforcement effort yields 189 actions so far, federal and state officials say, 93:134
– – Crackdown on scams continuing with FTC filing 2 more complaints, 93:532

– FRB policy initiative to lower principal owed, reduce interest rates, extend loans, or make other changes, 92:252
– GSEs, loan modifications completed by Fannie Mae and Freddie Mac increased after federal government seized control, 92:343; FHA reports doubling of completed modifications in first quarter 2009, 92:1492
– Hill Watch, 92:957
– Home Affordable Modification Program (HAMP), mortgage loan servicers increasing efforts to keep distressed borrowers out of foreclosure, 93:430
– Home Affordable Refinance Program (HARP), FHA data show Fannie Mae and Freddie Mac completing 60,000 refinancings in 2009, 93:344
– Home Price Decline Protection program, servicers expected to begin implementing guidelines immediately, Donovan tells Senate panel, 92:477; White House expands program to provide incentives for short sales and other alternatives, 92:1146
– HOPE for Homeowners program

– – House actions

See LEGISLATION, FEDERAL, HR 703, HR 787

– – N.Y. lending institutions may legally refinance home loans under FHA plan to aid distressed homeowners, 92:1053

– HOPE NOW Alliance, efforts could double in 2009, lenders and servicers say, 92:24
– Interest rates, Treasury Dep't guidelines instructs mortgage servicers to lower rates significantly, 92:542
– Loss mitigation, FFIEC affirms continued support for “responsible” activities, 93:268
– Making Home Affordable Program

– – Assessment, Congressional Oversight Panel highlights 3 areas of concern for program, 93:670
– – Awareness campaign launched in Miami, 92:1488
– – Constitutionality, program allegedly violates due process requirements, housing group claims (D.C. Minn.), 93:291
– – Fannie Mae and Freddie Mac increase trials by 41 percent, FHFA says, 93:787
– – Full implementation, Congress and White House press lenders and servicers to devote more resources to troubled loans, 93:54; senior Obama administration officials meet with mortgage servicers to urge greater transparency, 93:216; Treasury Dep't concedes shortcomings while pointing to apparent progress, 93:267; Treasury Dep't reaches goal of starting 500,000 workouts ahead of schedule, 93:681
– – GAO identifies deficiencies with early handling of program, 93:177
– – Pay-for-performance success payments excludable from income, IRS says, 92:1485
– – Steep price declines, Treasury Dep't issues guidelines for additional incentive payments for certain areas, 93:223
– – Treasury Dep't announces plan to help reduce monthly payments for troubled homeowners with 2nd mortgage problems, 92:1051; loans retain same risk weight under interim final rule, 92:1484
– – Underwater mortgages, FHFA expands initiative to include greater number of borrowers who owe more than value of house, 93:8

– Mo Mod plan, Grassley (R-Iowa) asks Geithner to describe provisions to avoid assisting fraudulently obtained loans, 92:427
– Money laundering, FinCEN making referrals to law enforcement agencies on scams, Geithner says, 92:1147
– Mortgage Metrics Report, OCC-OTS report, 4th quarter 2008, 92:793; first quarter 2009, 93:8; 2nd quarter 2009, 93:623
– Redefaults, Fitch study projects 65 to 75 percent delinquency rate with higher rates ahead, 92:1264
– Safe harbor for loan servicers, House Financial Servs. Comm. approves measure, 92:323
– Second liens, Treasury Dep't to issue guidance to mortgage servicers soon, 92:877
– Subprime mortgages, Goldman Sachs agrees to spend $60M to help Mass. borrowers, 92:1167

LOANS

See specific type of loan

LOBBYING

– AIG increased spending by over 20 percent in first quarter 2009, report says, 92:1005
– TARP

– – BoA investigation launched on use of funds, guarantees, and lobbying, special IG says, 92:320
– – Treasury Dep't seeks to limit outside influence on program, 92:248; Treasury Dep't issues detailed guidelines to fulfill limited contacts promise, 93:504

LOCAL TAXES

See STATE AND LOCAL TAXES

LUXEMBOURG

– Bank secrecy, government announces plans to loosen national laws, 92:610
– Mutual funds, financial services regulator censures UBS over Madoff Ponzi scheme losses, 92:519