Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.
- “Mortgage giant Fannie Mae knew about allegations of improper foreclosure practices by law firms in 2003 but did not act to stop them,” according to an inspector general’s new report. [Associated Press]
- Under a new plan crafted by federal regulators, “millions of current and former homeowners will have a chance to get their foreclosure cases examined to determine whether they should be compensated for banks’ mistakes.” [Wall Street Journal]
- During an interview with ABC, President Obama said that Bank of America’s new debit card fee shows “exactly why we need this Consumer Finance Protection Bureau that we set up that is ready to go.” [ABC]
- The Senate voted 79-19 yesterday “to move forward with tough trade legislation that would impose tariffs on some Chinese goods to punish Beijing for keeping its currency artificially depressed.” [New York Times]
- President Obama submitted trade deals with Colombia, South Korea and Panama to Congress yesterday afternoon, “and the House is expected to vote on them as early as next week.” [CNN Money]
- The minimum wage is set to rise in eight states. [CNN Money]
- Switzerland remains the world’s number one tax haven. [Reuters]
- General Motors and Chrysler “reported September U.S. auto sales gains of at least 20 percent, a sign that consumers have returned as vehicle inventories have risen after being crimped by the March earthquake in Japan.” [Reuters]
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