The December issue of FIRE Policy News reports on efforts by the attorneys general in all 50 states and the District of Columbia to investigate potential mortgage foreclosure fraud, particularly the matter of “robo-signers” who allegedly signed thousands of foreclosure documents without in having read them.
Also in this issue:
- The U.S. Chamber of Commerce and the Business Roundtable have filed a lawsuit against the Securities and Exchange Commission over a “proxy access” rule they say will open the door to political activism at odds with investor interests.
- The Federal Reserve received new authority in the financial regulatory law, but how those powers may be exercised remains unclear. Critics argue the new law fails to address the most pressing problems of the existing regulatory system.
- A new study finds multiyear insurance policies reduce insurance premiums, cut insurers’ administrative costs, lower consumers’ search costs, provide stability to consumers, and give property owners incentives to invest in risk-reducing measures.
- Fitch Ratings has given General Motors the same credit rating as Ford Motor Co. as GM prepares to sell stock. Ford earned its rating. GM was handed its rating by taxpayer bailouts and skirting of bankruptcy rules.
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