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Year In Review: Government News

DS News Year In Review Government NewsAs the new year rolls in, DS News is taking a look back at some of the biggest government headlines and stories of 2014:

1. Mel Watt Sworn in as FHFA DirectorAfter months of contentious debate, the Federal Housing Finance Agency (FHFA) finally has a new director. Mel Watt, the former North Carolina congressman, was sworn in Monday to a five-year term as the first Senate-confirmed director of the FHFA. Watt, 68, represented the 12th congressional district of North Carolina as a member of the U.S. House of Representatives for more than 21 years prior to accepting his new post.

2. Bank of America Settles Claims for Record $16 BillionBank of America agreed to pay a record $16.65 billion to resolve claims related to the sale of toxic mortgage-backed securities during the years leading up the financial crisis.

3. Ocwen Reaches Settlement With New York RegulatorOcwen's year-long difficulties with New York's Department of Financial Services (DFS) ended with a $150 million settlement and the departure of its executive chairman.

4. Castro Sworn in, Faces New Challenges at HUD As the newly sworn-in Secretary of the U.S. Department of Housing and Urban Development (HUD), Julian Castro will need to perform a complicated balancing act to move the agency forward during the current unsteady recovery.

5. Fed, SEC Approve Risk Retention RuleThe residential mortgage loan risk retention rule, known as the "qualified residential mortgage" (QRM) rule, was approved by the U.S. Federal Reserve Board and the Securities and Exchange Commission (SEC), the last two of six federal agencies to approve the rule, according to the Fed.

 

About Author: Brian Honea

Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.
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