Yellen Eyes Nonbank Mortgage Lenders, Warns of Potential Failure
“FSOC is very focused on that because nonbank mortgage companies lack access to deposits, which banks have,” Yellen said at the Senate Banking Committee Thursday, referring to the Financial Stability Oversight Council. FSOC groups the main US financial regulators.
https://www.bloomberg.com/news/artic...premium-europe
- Treasury secretary asked about risks with nonbanks at hearing
- Yellen highlights nonbanks’ lack of access to funding backstop
“FSOC is very focused on that because nonbank mortgage companies lack access to deposits, which banks have,” Yellen said at the Senate Banking Committee Thursday, referring to the Financial Stability Oversight Council. FSOC groups the main US financial regulators.
https://www.bloomberg.com/news/artic...premium-europe
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