The Senate Banking Committee approved legislation Tuesday that would empower the Federal Housing Administration to provide relief to mortgage borrowers teetering on the brink of default. The House has already passed similar legislation. Only two months ago, mortgage aid was viewed as unlikely, but the odds now favor it becoming law. For this change of fortune, the legislation's chief sponsors, Sen. Chris Dodd of Connecticut and Rep. Barney Frank of Massachusetts, should thank one person in particular: Federal Reserve Chairman Ben Bernanke.

Commercial banks and other financial institutions need to beef up their ability to detect and protect themselves against risks like the credit and mortgage debacles, Federal Reserve Chairman Ben S. Bernanke said yesterday.

WASHINGTON -- Commercial banks and other financial institutions need to beef up their ability to detect and protect themselves against risks like the credit and mortgage debacles, Federal Reserve Chairman Ben Bernanke said Thursday.

CHICAGO (Reuters) - Recent turmoil in financial markets underscores the need for banks to hold "generous" capital cushions, U.S. Federal Reserve Chairman Ben Bernanke said on Thursday as he urged them to actively raise money.

WASHINGTON -- Turmoil in financial markets has eased somewhat, but the situation is still "far from normal," Federal Reserve Chairman Ben Bernanke said Tuesday.

NEW YORK (Reuters) - Blue-chip stocks declined on Tuesday as oil rose to another record and underscored concerns about inflation, while the Federal Reserve chairman said financial markets are still troubled.

SEA ISLAND, Georgia (Reuters) - Federal Reserve Chairman Ben Bernanke said on Tuesday that emergency Fed liquidity measures have helped relieve strain in financial markets, but the recovery process remains incomplete.

Financial markets are starting to work better, Federal Reserve Chairman Ben S. Bernanke said today, but are still not functioning normally despite Fed intervention. Meanwhile, new data on retail sales suggests American consumers, though stressed, are not cutting their spending in a dramatic way.

The Federal Reserve chairman urged Congress to give federal agencies “greater latitude” to take an innovative approach to dealing with the housing crisis.

The Federal Reserve chairman urged Congress to give federal agencies “greater latitude” to take an innovative approach to dealing with the housing crisis.