Search for: "Federal Deposit Insurance Corporation (FDIC)"
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16 Jan 2013, 12:36 am
Accordingly, based upon the Atherton decision (which interpreted a provision of the Federal Deposit Insurance Act, or the “FDI Act”, for receivership claims brought by the FDIC following a failure of a bank or thrift), the standard for national bank and federal association officers and directors generally follows state law, except that state law cannot impose a standard lower than gross negligence. [read post]
14 Jun 2010, 7:33 pm
” “When an open financial institution acquires or assumes the liability for a failing institution’s deposits, the FDIC as insurer reimburses it for the amount of insured deposits,” says the federal agency’s handbook on bank closures. [read post]
6 May 2021, 6:21 am
They assert that the district court has federal question jurisdiction over the OCFR’s claims against the Bank because those claims are completely preempted by Section 27 of the Federal Deposit Insurance Act, which prescribes the interest rate that state-chartered, federally insured banks can charge and grants such banks interest rate exportation authority. [read post]
6 May 2013, 5:46 am
On April 15, 2013, the Board of Governors of the Federal Reserve System (Federal Reserve) and the Federal Deposit Insurance Corporation (FDIC) issued additional guidance (Guidance) with respect to the 2013 resolution plan submissions of the U.S. and foreign banking organizations that filed their initial resolution plans on July 1, 2012 (First-Round Filers). [read post]
10 Dec 2008, 8:43 pm
Customers of QRS Bank with non-interest bearing transaction accounts will continue to be insured through December 31, 2009 for up to $250,000 under the FDIC's general deposit insurance rules. [read post]
22 Mar 2023, 12:15 am
The bank was also required to meet the requirements of the Federal Deposit Insurance Corporation which insured the bank's deposits (to the limited extent provided by law). [read post]
26 May 2010, 7:55 am
The Federal Deposit Insurance Corporation’s board of directors May 11 approved a notice of proposed rulemaking on safe harbor conditions for securities originated by failed banks. [read post]
18 Nov 2016, 1:00 am
Stealing Deposits: Deposit Insurance, Risk-Taking and the Removal of Market Discipline in Early 20th Century Banks Posted by Charles W. [read post]
24 Nov 2008, 5:26 am
As part of the agreement, Treasury and the Federal Deposit Insurance Corporation will provide protection against the possibility of unusually large losses on an asset pool of approximately $306 billion of loans and securities backed by residential and commercial real estate and other such assets, which will remain on Citigroup's balance sheet. [read post]
17 Feb 2015, 8:00 am
., 49, Tifton, Georgia, a former bank president and CEO, was charged for his role in a bank fraud scheme in which he is alleged to have hidden under-performing and at-risk loans from the bank and the Federal Deposit Insurance Corporation, among others. [read post]
12 Oct 2011, 2:50 pm
After the Federal Deposit Insurance Corporation released its proposed “Volcker Rule,” Republicans on the House Financial Services Committee were quick to announce hearings on the proposed regulations. [read post]
15 Jul 2009, 5:07 pm
In the last bank insolvency post we talked about how after being appointed as receiver for a failed bank, the Federal Deposit Insurance Corporation (the "FDIC") may unilaterally insist on a stay of proceedings involving the bank (e.g., lawsuits). [read post]
27 Sep 2022, 9:04 pm
For repeat offenders that are insured depository institutions, they can lose access to federal deposit insurance or their ability to continue operating. [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]
12 Jun 2012, 6:22 am
Recently, the Board of Governors of the Federal Reserve System (the “FRB”) approved for publication three notices of proposed rulemaking (the “NPRs”) substantially amending the risk-based capital rules for banks. [1] The FRB also approved final amendments to the market risk rules (the “Market Risk Amendments”), often referred to as “Basel II.5”. [2] The NPRs and Market Risk Amendments are meant to be joint rulemakings with the Office of the… [read post]
12 Jun 2012, 6:22 am
Recently, the Board of Governors of the Federal Reserve System (the “FRB”) approved for publication three notices of proposed rulemaking (the “NPRs”) substantially amending the risk-based capital rules for banks. [1] The FRB also approved final amendments to the market risk rules (the “Market Risk Amendments”), often referred to as “Basel II.5”. [2] The NPRs and Market Risk Amendments are meant to be joint rulemakings with the Office of the… [read post]
20 May 2011, 3:46 pm
The money is also insured by the Federal Deposit Insurance Corporation (FDIC). [read post]
18 Jun 2011, 7:36 pm
According to the Federal Deposit Insurance Corporation, McIntosh State Bank was sold to Hamilton State Bank of Hoschton. [read post]
4 Dec 2019, 9:10 am
However, at that time both the bank and its parent company UWBI were failing, prompting federal authorities to close the bank in January 2011 and appoint the Federal Deposit Insurance Corporation (FDIC) to serve as a third-party receiver and dispose of the bank’s remaining assets. [read post]
12 Sep 2008, 2:55 am
According to various news sources (here), Kansas Bankers Surety (KBS, about which refer here), a unit of Berkshire Hathaway, is exiting the business of privately insuring bank deposits beyond the $100,000 limit of the Federal Deposit Insurance Corporation. [read post]
