(Bloomberg) -- Federal Reserve Chairman Ben S.
Bernanke is mobilizing to placate Democrats in Congress who
claim he isn't doing enough to crack down on predatory lending.
Bernanke, who begins two days of testimony to Congress
tomorrow, has ordered Fed staff to determine whether he has
authority to probe mortgage units of financial institutions the
Fed supervises. The central bank, which House Financial Services
Committee Chairman Barney Frank has threatened to strip of some
regulatory powers, also plans an overhaul of lenders' disclosure
standards.
Read more at Bloomberg Exclusive News
Bernanke is mobilizing to placate Democrats in Congress who
claim he isn't doing enough to crack down on predatory lending.
Bernanke, who begins two days of testimony to Congress
tomorrow, has ordered Fed staff to determine whether he has
authority to probe mortgage units of financial institutions the
Fed supervises. The central bank, which House Financial Services
Committee Chairman Barney Frank has threatened to strip of some
regulatory powers, also plans an overhaul of lenders' disclosure
standards.
Read more at Bloomberg Exclusive News
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