U.S. Treasury Secretary Janet Yellen has called for the establishment of a new fund aimed at preventing mortgage servicers from going under, describing such servicers as systemically important. This proposal, involving involuntary DIP finance and supported by the Financial Stability Oversight Council (FSOC), has sparked criticism, including claims that it is a 'remarkably dumb idea' and calls for the repeal of significant portions of the Dodd-Frank Act. Additionally, Yellen addressed issues at the Federal Deposit Insurance Corporation (FDIC), condemning the abuses documented in a recent sexual misconduct report as 'unacceptable.' The report has led to calls for the firing of FDIC Chair Martin Gruenberg, amid allegations of harassment and discrimination within the agency, particularly affecting the Bottom 25 Banks.
"Treasury says non-bank mortgage servicers are systemically important." Janet Yellen's New Too-Big-To-Fail Firms https://t.co/WFmhNuW4qL
The Biden admin protects frat boy bureaucrats over women. Apologies are not enough for the harassment and discrimination at @FDICgov. For Biden to truly protect women in the federal workplace, he should immediately fire Chair Gruenberg. https://t.co/FJ6flMCMHg
.@PhilipWegmann: “There's new reporting in The Wall Street Journal found that the FD — FDIC director Martin Gruenberg, disrespected, disparaged and treated unfairly officials there and he was known to be someone who can control his temper. Obviously, President Biden said early on… https://t.co/NWGA26t9Uk
Abuses documented in FDIC sexual misconduct report unacceptable, Yellen says https://t.co/WejecnDJgX https://t.co/9EVie9aqlR
⚠️ ABUSES DOCUMENTED IN FDIC SEXUAL MISCONDUCT REPORT UNACCEPTABLE, YELLEN SAYS Full Story → https://t.co/pKjsS30C0R U.S. Treasury Secretary Janet Yellen on Monday said abuses documented in a report on workplace problems at the U.S. Federal Deposit Insurance Corporation were… https://t.co/anUWFIFuIZ
Yellen #FSOC Punts on Mortgage Servicers; WGA Bottom 25 Banks | https://t.co/mVPlXpsaZD | @SecYellen https://t.co/OsQxJkWrY3
"U.S. regulators call for new fund to prevent mortgage servicers from going under" | Involuntary DIP finance?? Another remarkably dumb idea from @SecYellen and the #FSOC. Need to repeal Dodd-Frank in big chunks.....
"U.S. regulators call for new fund to prevent mortgage servicers from going under" | Involuntary DIP finance?? Another remarkably dumb idea from @SecYellen and the #FSOC. Need to repeal Dodd-Frank is big chunks.....