Regulation and Compliance

First African-American Named as Fed Bank Chief

Mar 13, 2017
The Federal Reserve Bank of Atlanta has named Raphael W. Bostic as its 15th president and CEO, effective June 5. Bostic, age 50, succeeds Dennis Lockhart

The Federal Reserve Bank of Atlanta has named Raphael W. Bostic as its 15th president and CEO, effective June 5. Bostic, age 50, succeeds Dennis Lockhart, who retired on Feb. 28 and will become the first African-American to head a Federal Reserve bank.
 
Bostic is the Judith and John Bedrosian Chair in Governance and the Public Enterprise at the Sol Price School of Public Policy at the University of Southern California (USC), a position he has held since 2012. From 2009 to 2012, Bostic served as assistant secretary for policy development and research at the U.S. Department of Housing and Urban Development (HUD). Earlier in his career, Bostic worked at the Federal Reserve Board of Governors as an economist and then a senior economist in the monetary and financial studies section.
 
“The Reserve Banks are vital contributors to our nation's economic and financial success,” said Bostic. “I'm excited about the opportunity to work with the Bank's well-respected staff in advancing the excellent reputation this organization has built over many years. In my role as president of the Atlanta Reserve Bank, I also look forward to confronting the challenges the Federal Reserve faces in today's increasingly global and rapidly changing economy.”
About the author
Phil Hall
Link copied
Published
Mar 13, 2017
Get the NMP Daily
People On The Move
First Horizon Corp. Names Thomas Hung Chief Credit Officer

Susan Springfield Announces Retirement after 13 years.

First Horizon Corporation announced that Executive Vice President, Head of Franchise Finance Thomas Hung will be named senior executive vice president, chief credit officer, effective October 1, 2024. Hung will succeed Susan Springfield, senior executive vice president, chie...

Continue reading
Analysis and Data
Builder Sentiment Unchanged In April

Latest data breaks four-month period of gains for HMI Index

Builder sentiment flatlined in April as mortgage rates remained close to 7%, inciting mixed reactions from housing analysts on the new-home market. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index, (HMI) released Tuesday, showed builder co...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Regulation and Compliance
In Wake Of NAR Settlement, Dual Licensing Carries RESPA, Steering Risks

With the NAR settlement pending approval, lenders hot to hire buyers' agents ought to closely consider all the risks.

Regulation and Compliance
Apr 11, 2024
A California CRA Law Undercuts Itself

Who pays when compliance costs increase? Borrowers.

Regulation and Compliance
Apr 11, 2024
CFPB Weighs Title Insurance Changes

The agency considers a proposal that would prevent home lenders from passing on title insurance costs to home buyers.

Regulation and Compliance
Apr 10, 2024
Fannie Mae Weeds Out "Prohibited or Subjective" Appraisal Language

The overall occurrence rate for these violations has gone down, Fannie Mae reports.

Regulation and Compliance
Apr 10, 2024
Arizona Bans NTRAPS, Following Other States

ALTA on a war path to ban the "predatory practice of filing unfair real estate fee agreements in property records."

Regulation and Compliance
Apr 04, 2024
Kentucky Legislature Passes Bill Banning NTRAPS

The new law prohibits the recording of NTRAPS in property records, creates penalties if NTRAPS are recorded, and provides for the removal of NTRAPS currently in place.

Regulation and Compliance
Apr 03, 2024