Joe Adler

WASHINGTON — Two failed banks in Florida went to one acquirer Friday, and regulators also shut a $1 billion-asset bank in Colorado, as the year's failure total reached 58.

WASHINGTON — As regulators continue to implement the Dodd-Frank Act one year after its passage, a key backer of financial reforms in the Senate warned "the battle is not over."

WASHINGTON — The Treasury Department announced a new round of investments Wednesday as part of a program to encourage community banks to make small business loans.

Richard Cordray, the enforcement chief at the Consumer Financial Protection Bureau, will be named to lead the new regulator, the Obama administration said Sunday.

There is not an official scorebook to rank the financial regulatory agencies for their progress implementing the Dodd-Frank Act. But they do keep score on the softball field.

The first three failures of the quarter — two in Colorado, one in Illinois — late Friday cost the Deposit Insurance Fund an estimated $590 million and brought the year's toll to 51.

The first three failures of the quarter — two in Colorado, one in Chicago — late Friday cost the Deposit Insurance Fund an estimated $590 million and brought the year's toll to 51.

Bair will join the Pew Charitable Trusts as a senior advisor starting Sept. 7. Meanwhile, Martin Gruenberg, the FDIC's vice chairman under Bair, was set to assume the position of acting chairman at the close of business Friday.

Bair will join the Pew Charitable Trusts as a senior advisor starting Sept. 7. Meanwhile, Martin Gruenberg, the FDIC's vice chairman under Bair, was set to assume the position of acting chairman at the close of business Friday.

WASHINGTON — Nearly three years to the day of seizing IndyMac Bank, the Federal Deposit Insurance Corp. launched formal action against its former chief executive, saying he "negligently" allowed the thrift to keep making risky loans despite signs of market stress.

As the five members of the FDIC board took their seats Wednesday, the elephant in the room was where they would be sitting next time.

At the last board meeting led by Federal Deposit Insurance Corp. Chairman Sheila Bair, the agency finalized details of its new resolution authority for giant nonbanks, but delayed action on "living will" requirements for systemically important firms.

The Federal Deposit Insurance Corp. board of directors Wednesday will address the internal resolution plans firms will submit to assist a hypothetical wind-down, and the creditor-claims process for seized financial behemoths.

With the Dodd-Frank Act and Basel capital regime already imposing new requirements on derivatives players, the U.S. bank regulators added another one Tuesday completely of their own accord.

The Federal Reserve Board, FDIC and OCC issued guidance Tuesday calling for better counterparty risk management at banks with large derivatives books.

As she departs as head of the Federal Deposit Insurance Corp. after a historic period of financial tumult and regulatory reform, Sheila Bair wishes more regulators felt empowered to be candid with the public about their views, even if they rock the boat.

As she departs as head of the Federal Deposit Insurance Corp. after a historic period of financial tumult and regulatory reform, Bair wishes more regulators felt empowered to be candid with the public about their views, even if they rock the boat.

On her way out as Federal Deposit Insurance Corp. chief, Sheila Bair told lawmakers that certain capital rules meant for large banks may affect small ones as well, and defended prompt corrective action in the face of an oversight report criticizing it.

A report last week by the Government Accountability Office sharply criticized "prompt corrective action" — a series of regulatory triggers based solely on capital levels — saying it failed to work during the financial crisis.

A forum on the FDIC's new resolution powers produced its share of humourous one-liners; Reps. Barney Frank and Ron Paul agree on decriminalizing marijuana; and more.