Joe Adler

The government seized three Midwest banks late Friday, costing the Deposit Insurance Fund just over $500 million.

WASHINGTON — The government seized three Midwest banks late Friday, costing the Deposit Insurance Fund just over $500 million.

CFTC Commissioner channels his inner pop star when discussing reg reform; Daily Show host takes banks to task over robo-signing docs; comings and goings at OCC, Freddie; and more.

Under existing rules, a bank with a 4 or 5 Camels rating cannot make such payments to parties terminating their affiliation with the institution.

The Federal Deposit Insurance Corp. has named Mark Pearce, an official in the North Carolina banking department, to lead a new division devoted to consumer compliance.

Federal Deposit Insurance Corp. Chairman Sheila Bair said Wednesday the growing robo-signing scandal was symptomatic of the poor incentives that marred the securitization market, but she opposed a universal freeze on foreclosures.

The FDIC has named Mark Pearce, an official in the North Carolina banking department, to lead a new division devoted to consumer compliance.

Seeking to rebut concerns the Federal Deposit Insurance Corp. would use its new resolution powers over large firms to play favorites with creditors, the agency released a proposal Tuesday designed to severely limit who could receive extra relief in a failure.

While the Justice Department's antitrust lawsuit against three major card networks appeared to bolster merchants' case for regulating interchange fees, it may also have undercut a push for legislation targeting the issue.

Monterey County Bank settled with the FDIC over allegations that certain credit and debit practices were "deceptive," the agency said Tuesday.

Community bankers are up in arms about a Federal Deposit Insurance Corp. plan that would require banks to give customers a chance to opt out of overdraft programs for checks and other transactions, arguing it is burdensome, restrictive and would put them at a competitive disadvantage to the largest institutions.

The failures late Friday of the $421 million-asset Wakulla Bank in Crawfordville, Fla., and the $104 million-asset Shoreline Bank in Shoreline, Wash., were estimated to cost the Federal Deposit Insurance Corp. a total of $155 million.

WASHINGTON — For the second straight week, Florida and Washington state won the failed-bank sweepstakes.

Sen. Chris Dodd gets his share of plaudits as retirement looms; shaky first day in class for John Walsh; progress made on appointing Fed governors, FHFA watchdog.

Compared to last year, the Shared National Credits Review is overwhelmingly positive. Historically speaking, however, the results are still poor.

Financial firms that share syndicated loans worth $20 million or more have seen their losses ease from such commitments, according to an annual government review released Tuesday.

The FDIC unexpectedly delayed the release of an interim rule to create a resolution system for the largest, most-connected banks and nonbanks.

Two failures on opposite coasts Friday evening brought the year's toll to 127. Florida regulators closed the $148 million-asset Haven Trust Bank in Ponte Vedra Beach. Later, the $289 million-asset North County Bank in Arlington, Wash., was shuttered.

The FDIC is set to begin a Herculean task: creating a resolution procedure for large, systemically important firms that improves on the bankruptcy process.

The FDIC is set to begin a Herculean task: creating a resolution procedure for large, systemically important firms that improves on the bankruptcy process.