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John E Bowman

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BUSINESS
March 27, 2009 | Bloomberg News
U.S. Treasury Secretary Timothy F. Geithner named John E. Bowman acting director of the Office of Thrift Supervision, which regulates the savings and loan industry. Scott M. Polakoff, formerly acting director, is on leave, pending a review by the Treasury Department of the OTS' actions last year "related to post-period capital contributions," the agency said Thursday in an e-mailed statement. Bowman was deputy director and chief counsel at the OTS.
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BUSINESS
August 10, 2009 | Jim Puzzanghera
Congress gave the Federal Reserve the power to enact rules to protect consumers from unscrupulous mortgage lending in 1994. But as the years passed and risky subprime loans inflated the housing bubble, restrictions on lenders never came. It wasn't until last summer, long after the bursting bubble triggered the deep recession, that the central bank adopted rules prohibiting unfair, abusive or deceptive lending practices. The 14 years it took the Fed to act are now cited by Obama administration officials, consumer advocates and lawmakers as a key reason for scrapping a fragmented regulatory structure spread across multiple agencies and replacing it with a new Consumer Financial Protection Agency.
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