Congress Passes Foreclosure Bill to Help Homeowners
Congress approved the Helping Families Save Their Homes Act by wide margins in the House 367-54 and Senate 91-5. The measure expands a $300 billion program to encourage lenders to refinance high rate mortgages into 30-year FHA backed loans, with broader eligibility and fewer defaults.
MENTIONED IN THIS ARTICLE
Washington
Congress
House
The
Senate
Harry Reid
D-Nev
Federal Housing Administration
Dick Durbin
D-Nl
Senate approves strict credit card overhaul in broad vote
The Senate approved a credit card reform bill 90 to 5 to curb rate hikes and fees as the House prepared to pass it. The measure would require online posting of agreements, online or phone payments without extra charges, a no over limit option, and 45 days notice before rate increases, with a nine month transition.
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Washington
Senate
House
Lawmakers warn Air Force cuts may leave fleet underprepared
House Armed Services Committee members contend the Air Force plans to retire about 250 fighters and end programs such as the C-17 and F-22, while delaying newer bidders like the F-35. They warn this could leave the service short on planes for its mission. The 2010 base budget request totals roughly 115.6 billion dollars and shifts to buying the F-35 fleet from Lockheed Martin. The panel notes reductions in C-27 cargo jets and a long range bomber project.
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Washington House
Air Force
Lockheed Martin Corp
House
Armed Services Committee
Obama faces GOP fight over Guantanamo closure plan
President Obama hits a setback as Senate allies refuse $80 million for relocating 240 detainees at Guantanamo Bay until a credible plan is presented. Democrats reverse course, while Republican chair Michael Steele criticizes Obama’s popularity and stresses serious policy over show. The Fed signals banks in bailout programs may repay after supplying extra information. Obama urges leadership to curb nuclear weapons spread after Oval Office talks with Shultz, Kissinger, Perry, and Nunn.
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Washington
Barack Obama
Guantanamo Bay
Senate
Justice and Defense Departments
U.S
Cuba
Republican Party
Michael Steele
America
Obama
Oval Office
George P. Shultz
Henry Kissinger
Defense
William Perry
Sam Nunn
Associated Press
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