Roundtable offers mixed review of Frank's proposed TARP overhaul

01/12/2009 | Miami Herald (free registration), The

U.S. Rep. Barney Frank, chairman of the House Financial Services Committee, wants to increase oversight of recipients of the government's bank-rescue program, while funneling more money to struggling homeowners and smaller lenders. "Chairman Frank's legislative outline contains positive proposals to assist troubled homeowners and prevent foreclosures," said Steve Bartlett, president of the Financial Services Roundtable. But while the group supports measures that would give mortgage services more protection against lawsuits, it opposes provisions that would make the tougher executive-compensation rules retroactive to original recipients of the funds.

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Miami Herald (free registration), The

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