Government Set aside Economic Studies (FRED): a community databases on the Federal Set aside Financial out-of St
Freddie Mac computer, or Government Home loan Mortgage Corp (FHLMC): A stockholder-owned, in public traded regulators-paid corporation (GSE) chartered by the Congress inside 1970
FICO Score: A quantitative credit history created by this new Fair Isaac Organization (FICO). Lenders evaluate borrowing from the bank chance based in part on the Credit ratings. If a lender extends borrowing to help you individuals having a low FICO rating, the borrowed funds is subprime. The latest development out-of Credit ratings facilitated the elevated automation away from home loan choices, deleting subjectivity throughout the techniques, plus decreasing the amount of inputs on borrowing from the bank behavior. Look for Todd Baker interview.
Financial crisis Query Percentage: A great 10-user bipartisan percentage billed because of the leaders of your own Us Congress assigned to research what is causing the fresh 2008 Overall economy. Look for Karstens memo.
Monetary Confidentiality Laws: Founded by the Gramm-Leach-Bliley Operate into the 1999, which provision wanted to protect individual privacy by requiring financial institutions to provide sees about their usage of customers’ personal information (essentially, an online privacy policy). Notices should be with ease readable, and you will customers need to be allowed to opt out-of revealing specific information that is personal. Get a hold of Chouliara memo.
Economic Services Adaptation Work from 1999 (Gramm-Leach-Bliley Work or GLBA): Closed because of the Chairman Bill Clinton in 1999, that it law repealed the fresh Cup-Steagall Act’s separation off industrial and you can financing banking, facilitated the manufacture of financial holding companies, and expidited the brand new deregulation of the economic industry.