Search for: "Federal Deposit Insurance Corporation (FDIC)"
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12 Jan 2016, 10:12 am
Section 19 of the Federal Deposit Insurance Act (FDIA), a statute that governs the FDIC, specifically states that the FDIA “[P]rohibits, without the prior written consent of the Federal Deposit Insurance Corporation (FDIC), a person convicted of any criminal offense involving dishonesty or breach of trust or money laundering (covered offenses), or who has agreed to enter into a pretrial diversion or similar… [read post]
12 Jan 2016, 7:04 am
The exact numbers are tough to pin down but a 2013 Federal Deposit Insurance Corporation (FDIC) National Survey of Unbanked and Underbanked Households suggests that 7.7% of all households in the country (9.6 million households representing 25 million people) are unbanked while an additional 20.0% (24 million households representing 68 million people) are considered underbanked. [read post]
11 Jan 2016, 4:01 pm
Prominent lead arrangers in the syndicated loan market should expect inquiries from any number of potential government authorities, including the Federal Reserve, the Office of the Comptroller of the Currency (the “OCC“), the Federal Deposit Insurance Corporation (the “FDIC“) and state authorities such as attorneys general and financial supervisory agencies. [read post]
3 Jan 2016, 6:45 am
The Guidelines would be issued and enforceable under section 39 of the Federal Deposit Insurance Act (the “FDI Act”), which authorizes the OCC to prescribe safety and soundness standards. [read post]
14 Dec 2015, 9:03 am
On November 6, 2015, the Federal Deposit Insurance Corporation issued an Advisory (the “Updated Advisory”) (FIL-49-2-15) to update information contained in the FDIC Advisory on Effective Credit Risk Management Practices for Purchased Loan Participations (FIL-38-2012). [read post]
10 Nov 2015, 7:48 am
On October 22, the Office of the Comptroller of the Currency (the “OCC”), the Federal Reserve Board (the “Board”), the Farm Credit Administration (the “FCA”), the Federal Housing Finance Agency (the “FHFA”), and the Federal Deposit Insurance Corporation (the “FDIC”) adopted a joint final rule establishing capital and margin requirements for swaps not cleared through a… [read post]
31 Oct 2015, 7:03 pm
The final rule, issued by the Farm Credit Administration (FCA), the Federal Deposit Insurance Corporation (FDIC), the Federal Housing Finance Agency (FHFA), the Federal Reserve, and the Office of the Comptroller of the Currency (OCC), establishes minimum margin requirements for swaps and security-based swaps that are not cleared through a clearinghouse. [read post]
19 Oct 2015, 5:00 am
Audits of FCMs by independent auditors like PwC are a “keystone” of the federal statutory and regulatory regime to protect commodity investors, in part because deposits of commodity customers are not insured by FDIC or SIPC, so customers are protected only by the customer segregated funds requirements. [read post]
21 Sep 2015, 9:30 pm
Additionally, all states require that banks obtain insurance from the Federal Deposit Insurance Corporation (FDIC). [read post]
9 Sep 2015, 8:53 am
FDIC, in which that court held the Federal Deposit Insurance Corporation’s ALJs exercised discretion in carrying out their duties, but they were employees because final decision authority rested solely with the FDIC. [read post]
2 Sep 2015, 2:59 pm
News release: “Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $43.0 billion in the second quarter of 2015, up $2.9 billion (7.3 percent) from a year earlier and the highest quarterly income on record. [read post]
25 Aug 2015, 4:19 pm
News release: “The Federal Deposit Insurance Corporation (FDIC) today released the summer 2015 issue of Supervisory Insights. [read post]
17 Aug 2015, 12:31 pm
On August 10, 2015, the Fifth Circuit revived a securities fraud suit brought by the Federal Deposit Insurance Corporation (“FDIC”) as receiver for Guaranty Bank against Goldman Sachs & Co., Deutsche Bank AG, and the Royal Bank of Scotland PLC. [read post]
16 Aug 2015, 3:53 pm
The six agencies that released their standards are the Federal Reserve Board, the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC). [read post]
12 Aug 2015, 2:29 pm
– Today the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) took action against Citizens Bank for failing to credit consumers the full amounts of their deposited funds. [read post]
9 Aug 2015, 6:03 pm
The base form of the bank’s D&O insurance policy has a so-called regulatory exclusion, precluding coverage for “any action or proceeding brought by or on behalf of any federal or state regulatory or supervisory agency or deposit insurance organization. [read post]
28 Jul 2015, 5:02 pm
News release: “The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Tuesday provided guidance to 119 firms that in December will be filing updated resolution plans. [read post]
17 Jul 2015, 3:46 pm
As one of the lead trial lawyers who represented the Federal Deposit Insurance Corporation in a U.S. [read post]
6 Jul 2015, 4:25 pm
“The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Monday posted the public portions of annual resolution plans for 12 large financial firms. [read post]
6 Jul 2015, 1:02 pm
On June 29, the Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System and Office of the Comptroller of the Currency issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. [read post]
