In This Issue:
- Banks Concerned as TAG Program Set to Expire
- European Banks Set to Take Bigger Hit than U.S. Over Libor
- N.Y. AG Sues Credit Suisse for Misleading Investors on
- Mortgage Servicers Provided $26.1B for Borrowers Under
- Community Banks, Regulators Battle Over Capital Rules
- Fed Governor Urges Separate Mortgage Rules for Community Banks
- Community Banks Indicate Regulations Causing Increased M&A
- Report Claims Problems with Credit-Rating Agency Review
- Council Votes to Allow SEC to Police Money Funds
- CFPB to Begin Providing More Supervision of Debt Collectors
- Excerpt from Banks Concerned as TAG Program Set to Expire:
The financial industry is hoping to avoid its own "fiscal cliff" at the end of the year when a guarantee program for bank accounts is set to expire. The Transaction Account Guarantee (TAG) program, which was created during the financial crisis, provides government guarantees to non-interest bearing bank accounts used by small businesses and municipalities.
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