Joe Adler is the former Washington Bureau Chief of American Banker.
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Regulators issued joint guidelines that reminded banks to be vigilant in verifying the identity of customers that use shell account holders.
March 7 -
Institutions in Florida, Illinois, Maryland and Utah failed Friday, bringing the year's total to 26. The failed banks held combined assets of roughly $1.1 billion and their resolution is expected to cost the Deposit Insurance Fund more than $300 million.
March 7 -
Institutions in Florida, Illinois, Maryland and Utah failed Friday, bringing the year's total to 26. The failed banks held combined assets of roughly $1.1 billion and their resolution is expected to cost the Deposit Insurance Fund more than $300 million.
March 5 -
Brian Moynihan, B of A's CEO for just over two months, already showing some political savvy; Senate Banking Committee's staff director attempts to soothe fears about "Volcker Rule" ...
March 5 -
Federal Deposit Insurance Corp. Chairman Sheila Bair confirmed plans to lengthen the temporary exemption for securitizations from failed-bank seizures.
March 4 -
The Federal Deposit Insurance Corp.'s chief watchdog recommended improvements in the agency's loan-modification program to align it more with the administration's program for workouts.
March 3 -
WASHINGTON — Amid criticism over the Federal Deposit Insurance Corp.'s proposal to restrict a safe harbor for securitized assets at failed banks, the agency is likely to announce soon that it will temporarily extend an April 1 deadline to protect all such assets from seizure.
March 3 -
An appeals court has temporarily thrown out a lower court's decision blocking a Federal Deposit Insurance Corp. order against Advanta Bank.
March 1 -
Near-zero interest rates won't last forever, and regulators are warning banks - particularly those that added long-term assets using short-term funds - to take steps to manage their risk
March 1 -
A Federal Deposit Insurance Corp. plan to restrict securitizations is drawing intense opposition from bankers, who claim it would damage the secondary market. In a December proposal, the agency said it was considering imposing conditions to protect securitized assets from FDIC seizure after a bank failure, including a "skin in the game" requirement, a minimum hold period for underlying loans and limits on the number of tranches.
February 26 -
A Federal Deposit Insurance Corp. plan to restrict securitizations is drawing intense opposition from bankers, who claim it would damage the secondary market. In a December proposal, the agency said it was considering imposing conditions to protect securitized assets from FDIC seizure after a bank failure, including a "skin in the game" requirement, a minimum hold period for underlying loans and limits on the number of tranches.
February 26 -
WASHINGTON — The worst of the financial crisis has passed for most institutions, but new Federal Deposit Insurance Corp. data shows aftershocks are still being felt.
February 23 -
The number of troubled institutions jumped 27% during the fourth quarter, to 702, the Federal Deposit Insurance Corp. said Tuesday.
February 23 -
As Congress continues to work on a resolution regime for systemically important institutions, a parallel debate is emerging over whether such cleanups should be global efforts.
February 22 -
Promontory Interfinancial Network, already known for providing coverage through its certificate of deposit network, is set to announce today that it plans a May launch for a product to protect a customer's liquid funds.
February 22 - Illinois
WASHINGTON — Four failures late Friday cost the government an additional $1 billion.Among the closings, which brought the year's total to 20, was that of $3.6 billion-asset La Jolla Bank in La Jolla, Calif. The Federal Deposit Insurance Corp. sold La Jolla's operations to OneWest Bank in Pasadena in the second recent deal for the buyers of the failed IndyMac Bank.
February 21 -
WASHINGTON — Four failures late Friday cost the government an additional $1 billion.Among the closings, which brought the year's total to 20, was that of $3.6 billion-asset La Jolla Bank in La Jolla, Calif. The Federal Deposit Insurance Corp. sold La Jolla's operations to OneWest Bank in Pasadena in the second recent deal for the buyers of the failed IndyMac Bank.
February 19 -
As he provides lawmakers with continuing education about the Federal Deposit Insurance Corp., he finds it is hard at times not to be an advocate for an agency that has much to gain — or lose — during the financial reform debate.
February 16 -
The FDIC suffered a rare court defeat Tuesday as a federal judge sided with a bank that had challenged an enforcement order, saying the agency misused its authority.
February 16 -
WASHINGTON — The Federal Deposit Insurance Corp. issued a sharp rebuke Friday of an Internet video alleging the agency has let the new owners of failed IndyMac Bank unduly profit from the deal.
February 15
