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5 May 2012, 10:37 am by Mandelman
Wells Fargo reports that they haven’t even received the contracts from the Treasury Department as of today. [read post]
2 May 2012, 2:00 am by Kara OBrien
” In addition, the FDIC and Treasury released a final rule that will govern the maximum obligation the FDIC may incur in liquidating a covered financial company. [read post]
1 May 2012, 1:02 am by Kevin LaCroix
In its complaint (here), which the FDIC filed in its capacity as receiver for the failed bank, the FDIC seeks to recover losses of at least $100.6 million the bank allegedly suffered on nine poorly underwritten acquisition, development and construction loans and commercial real estate loans from March 2006 through July 2007. [read post]
30 Apr 2012, 7:54 pm by Kevin Funnell
He also discloses a portion of an email he received from someone with inside knowledge of the way the FDIC takeover team treated the employees of the Bank of Eastern Shore, the only one of the five "too-small-to-save" community banks for which the FDIC did not find a buyer. [read post]
These are lawsuits in which the FDIC, as receiver for failed financial institutions, brings professional liability claims against directors and officers of those institutions and against other related parties, such as accounting firms, law firms, appraisal firms, or mortgage brokers. [read post]
24 Apr 2012, 3:00 am by Jim Brashear
Financial services clients get encrypted email from the FDIC and state banking regulators. [read post]
24 Apr 2012, 3:00 am by Jim Brashear
Financial services clients get encrypted email from the FDIC and state banking regulators. [read post]
20 Apr 2012, 6:18 am by Elan Mendel
The Federal Reserve Board did conform on February 9 2011, after which time the Board received requests for clarification. [read post]
18 Apr 2012, 5:34 am by Max Kennerly, Esq.
Last week I received a review copy (one of the few perks of blogging) of D. [read post]
16 Apr 2012, 8:06 pm by Joshua Glazov
And they may use each regardless of whether the FDIC intervenes in the case or otherwise participates “with respect to and asset” the FDIC has an interest in. [read post]
15 Apr 2012, 7:16 pm by James Hamilton
The legislation would also end the ability of the FDIC to borrow up to 10% of the book value of the failed firm’s total consolidated assets in the 30 days immediately following its appointment as receiver; after those 30 days, the FDIC is authorized to borrow up to 90% of the fair value of the failed firm’s total consolidated assets.The Congressional Budget Office (CBO) estimates the proposal will save $22 billion over 10 years. [read post]
15 Apr 2012, 6:12 pm by David Smyth
United Commercial Bank / John Cinderey The second case received far less hoopla, and was first publicly noticed by Bruce Carton at Securities Docket, as far as I can tell. [read post]
11 Apr 2012, 1:13 am by Kevin LaCroix
    The Aftermath of the Failure of IndyMac Bank     Van Dellen and Perry involve two different actions by the FDIC as receiver arising out of the failure of IndyMac Bank, FSB in 2008. [read post]
9 Apr 2012, 1:09 am by Kevin LaCroix
On October 26, 2011, the FDIC, as receiver for the failed bank, filed an action in the W [read post]
6 Apr 2012, 12:45 pm by Bonnie Harris
  The Fed’s informal position lead to the FDIC in turn informally taking the position that the compensation rule prohibited loan originators at banks from participating in qualified plans. [read post]
25 Mar 2012, 11:04 am by admin
On March 20, the FDIC approved for publication a proposed rule to implement new authorities granted by the Dodd-Frank Act that permit the FDIC, as receiver for a financial company whose failure would pose a significant risk to financial stability, to enforce certain contracts of subsidiaries and affiliates of the covered company. [read post]
20 Mar 2012, 7:39 pm by Kevin Funnell
Thus, the FDIC was OUTRAGED that copies of these records, most of which, arguably, are owned by the bank (and the FDIC as receiver steps into the shoes of the bank when it fails) were falling into the hands of legal counsel for the officers and directors. [read post]
19 Mar 2012, 7:29 am by Karen K. Harris
The children also receive financial education in the classroom, and their parents will be offered training from the FDIC’s Money Smart curriculum to encourage them to invest in their child’s future. [read post]
18 Mar 2012, 11:17 am by Kevin LaCroix
  The Latest FDIC Failed Bank Lawsuit: On March 16, 2012, the FDIC filed its latest failed bank lawsuit. [read post]