Regulator seeks comments on "unfair" lending

(Reuters) - The proposal comes at a time when U.S. banking authorities, including the Federal Reserve, have been criticized for responding too late to problems in home loans made to borrowers with poor credit histories, so-called subprime loans.




The OTS, which regulates more than 800 savings and loan institutions with $1.5 trillion is assets, typically focuses on mortgage lending.


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US STOCKS-Indexes flat after jobs data; ISM to come

(Reuters) - NEW YORK, Aug 3 - U S. stocks were little changed
on Friday after a report showing weaker-than-expected job
growth last month rattled investors already nervous about
losses in the mortgage industry.




Investors were bracing for data on the vast U.S. services
sector at 10 a.m. .


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US STOCKS-Indexes fall further after services data

(Reuters) - The Dow Jones industrial average was down 65.36
points, or 0.49 percent, at 13,397.97. The Standard & Poor's
500 Index was down 9.64 points, or 0.65 percent, at
1,462.56. The Nasdaq Composite Index was down 14.85
points, or 0.58 percent, at 2,561.13.




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Mexico markets down on weak U.S. job data

(Reuters) - The price of the benchmark 10-year peso bond
fell 0.062 point to bid 101.149 points, with a yield of 7.81
percent.




The U.S. July jobs report showed non-farm payrolls rose by
92,000, below expectations of 139,000. That suggested a
weakening U.S. economy, which buys most of Mexico's exports.


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IKB subprime shockwaves continue to rattle Germany

(Reuters) - German commercial property financier Hypo Real Estate struggled to calm jittery investors by insisting it would be unaffected by the U.S. subprime fallout.




Its shares skidded more than 6 percent while Commerzbank -- which owns a property financier -- saw its stock fall over 4 percent.


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S&P, Fitch cut Boston Scientific's debt to junk

(Reuters) - Saddled with debt after its $27 billion acquisition of
Guidant Corp. and hampered by slowing sales of its most
lucrative heart devices, the company said in March it was
exploring the partial sale for more than $1 billion.




"Fitch's prior rating for BSX was highly dependent on the
timely paydown of debt with cash proceeds from the potential
divestiture," Fitch said in a statement. "More pressure has now
been placed on BSX's operations, which are currently
challenged, to reduce debt and leverage."


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REFILE-UPDATE 2-Bear Stearns, brokers debt protection costs rise

(Reuters) - NEW YORK, Aug 3 - The cost to insure the debt of
Bear Stearns Cos. jumped on Friday after Standard &
Poor's changed its outlook on the investment bank's debt to
negative, indicating it is more likely to be cut over the next
one to two years.




Recent developments, including problems at some of Bear
Stearns' managed hedge funds, have the potential to hurt the
company's performance for an "extended period," S&P said in a
statement. For details, see [ID:nN03300207]


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