Search for: "Regions Bank"
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23 Sep 10:23 am
... met with prospective investors, along with some of the scheme's 2000 unregistered sales agents, according to the article. "Regions
Bank provided a false air of legitimacy to this scheme," the article quoted Glenn S. Gordon, associate director of ... capacity, followed
USPT's instructions to distribute excessive portions of the investors' contributions to USPT as commissions and fees. Regions allegedly knew or
should have known, however, that these exorbitant commissions and fees were not disclosed ...
24 Sep 6:21 pm
... of "legitimacy" and became a big draw for Latin American investors. The SEC says that by taking on the role of trustee, Regions
Bank formed individual trust relationships with investors, processed client contributions, and bought mutual funds on their behalf. ... is
accusing Regions Bank of dispatching representatives to Latin America to meet prospective investors
and allowing USPT to use the bank's name in marketing and promotional materials. The $1 million penalty will be placed in a Fair Fund to ...
21 Sep 10:20 am
... "air of legitimacy" and that Regions should have been aware of the deceptive sales practices of U.S. Pension Trust. Unfortunately, the SEC
alleges that Regions continued with their participation despite the deceptive sales tactics. Additionally, the SEC adds that Region
Bank failed to disclose the fees and commissions to the investors. The SEC announced that the day the SEC filed suit against the
bank the bank agreed to the fine ...
6 Feb 5:37 pm
McDonough-based FirstBank Financial Services was seized by the Federal Deposit Insurance Corp. today, and the bank was taken over by
Regions Bank. From the Atlanta Business Chronicle: Walt Moeling, Bryan Cave Powell Goldstein LLP
banking attorney ... of market forces and over-concentration in residential real estate lending. "This is a case of the economy overwhelming the bank," Moeling said. The slowdown in residential construction, particularly for FirstBank's Henry County and south metro business ...
22 Sep 9:13 am
... of Federal Securities Laws The United States Securities and Exchange Commission ("SEC") has sued Regions Bank, successor to Union Planters Bank, for its role as trustee of an investment plan through which unregistered
broker-dealers, U.S. Pension ... s allegations, USPT charged exorbitant, undisclosed commissions and fees in connection with the sale of mutual funds. The complaint accuses
Regions Bank of violating Federal securities law and aiding and abetting USPT's violations of Federal
securities ...
22 Sep 9:13 am
... of Federal Securities Laws The United States Securities and Exchange Commission ("SEC") has sued Regions Bank, successor to Union Planters Bank, for its role as trustee of an investment plan through which unregistered
broker-dealers, U.S. Pension ... s allegations, USPT charged exorbitant, undisclosed commissions and fees in connection with the sale of mutual funds. The complaint accuses
Regions Bank of violating Federal securities law and aiding and abetting USPT's violations of Federal
securities ...
28 May, 2008 2:23 pm
... 1.3% of its entire loan portfolio due to weakness in new home values, according to a story on Businessweek.com. Other regional banks in the construction and home
improvement loan market such as Wachovia, Fifth Third Bankcorp, and RegionsFinancial, ... improvement and education loans also contributed to its revised estimated losses. While
subprime mortgage woes have rocked banks over the past year, Keycorp's announcement is evidence that the general decline should affect the short term conventional ...
21 Oct, 2008 3:04 pm
Three large regional banks all reported losses on Tuesday, and one, National City, announced that it would lay off about 14 percent of its work force. A fourth
regional bank, U.S. Bancorp, said that its quarterly profit fell a larger-than-expected 47 percent.
21 Sep 1:21 pm
The SEC charged Alabama-based Regions Bank for its role in an offering fraud that victimized
thousands of investors predominantly in Latin America. The SEC alleges that Regions Bank and its
predecessor were a key selling point in the investment scheme...
1 Apr, 2007 7:52 am
The ILB had a number of stories this time last year on the storm damage to Indiana Square (aka the Regions Bank Building, One Indiana Square and the Indiana National Bank building) at Penn. and Illinois, which houses dozens
of law firms, as well as the Indiana State Bar Assocaion. See particularly the quotes from an April 14, 2006 Indianapolis Star story headlined "When wind hit, privacy flew ...
27 Oct, 2008 2:29 am
... for those that have accepted the help. But it's not clear that the mega-bailout participation will be so painful - the big banks that signed on at the beginning didn't all
need help, allegedly (at least not all of them did), and people have claimed that the outline of the executive compensation provisions won't be too hard on the banks - the
details will matter, though. Now that some regional banks are aboard, including the allegedly healthy Zions, it strikes me that it will be increasingly ...
7 Jan 2:12 am
Dennis Ventry (UC-Davis) comments on the settlement announced by Regions Bank in Regions Fin. Corp. v. United States, 2008 U.S. Dist. LEXIS 41940, No. 2:06-CV-00895-RDP (N.D. Ala. May 8, 2008) (here): The 11th Circuit has dismissed the
government's appeal (No....
8 May 8:46 am
Regional banks SunTrust, Regions Financial and KeyCorp have left some uncertainty about how they will raise the capital they need
under the stress tests.
15 Jul, 2008 12:37 am
The national banks get all the news but the real rot is in the small regional banks. They hold bad paper and have much less cushion to survive the hard times.
caveat emptor
22 Oct, 2008 12:02 pm
Industry observers were predicting Tuesday a fresh round round of M&A to sweep the regional banking industry, as five such institutions, including National City and
U.S. Bancorp, reported another round of painful results and analysts said their business will worsen as the economy deteriorates. Several of these banks said they hoped to sell
stock to [...]
27 Oct, 2008 7:59 pm
At least 18 regional banks, including SunTrust Banks and Capital One Financial, said Monday that they had accepted $35 billion in government cash as the Treasury
Department rolled out the second half of its $250 billion package to shore up lenders and thaw frozen credit markets, Bloomberg News reports. Treasury Secretary Henry M. Paulson is
handing [...]
21 Oct, 2008 6:19 pm
KeyCorp, U.S. Bancorp, the Regions Financial Corporation and the National City Corporation said Tuesday that they might join the government's
$250 billion plan to recapitalize banks and were considering whether to use the money to shore up capital or make acquisitions, Bloomberg News reports. Regions, Alabama's biggest bank, said it would raise as much as $3.5 [...]
20 Feb, 2008 12:37 pm
... Dalton Point case below.... * * * * * * * * * * ** * * * * * * * * * * ** * ** * * * * * * * * * In the Dalton Point case, Dalton Point had an account and a loan with
Regions Bank. When Dalton Point opened the account, the signatory card was signed by a limited
partner and by ... of that person or another person, or in payment of an individual obligation of that person or another person, and the Bank
need make no inquiry concerning such withdrawals or disposition of the money, items or credit given ...
23 Sep 7:01 am
... prepare a promotional video and met with prospective investors and some of the schemes' 2,000 unregistered sales agents. "Regions
Bank provided a false air of legitimacy to this scheme," said Glenn S. Gordon, associate director of the SEC's ... the plans' own profits. The
SEC claims that $255 million was raised illicitly from about 14,000 investors. The SEC charged that Regions' did not adequately disclose the
fees to investors in its trust agreement papers, which were called "misleading" in court ...
4 Jan 7:41 pm
... perhaps to other people who are curious about how the CPP capital infusions will work. The article begins and ends with a discussion of a regional bank based in Dallas, PlainsCapital, which received an $86.7 million capital infusion from the Treasury last ... , and in the process making some mortal
enemies. Many community bankers are becoming bitter about the fact that the federal bank regulators and the US Treasury Department are forming
a daisy chain of love with big banks and Wall Street firms, ...
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