SEATTLE - (05/24/05) -- The financially troubled FederalHome Loan Bank of Seattle announced Monday it has named JamesGilleran, former director of the U.S. Office of Thrift Supervisionand ex-head of the Bank of San Francisco, as its new president andCEO. Gilleran will begin work June 1 at an FHLB that has beenplagued by an insider trading scandal and declining financials inrecent weeks. He will succeed Norman Rice, the former mayor ofSeattle, who resigned as CEO of the Seattle bank in February. Thebank, facing $260 million in losses on its investment portfolio,said last week it has signed a supervisory agreement with itsfederal regulator, the Federal Housing Finance Board, barring itfrom paying any dividends for three years or approving any stockredemptions before the mandatory five-year redemption. Last monthtwo directors of the bank resigned after it was revealed theirbanks redeemed $74 million in stock while news of the FHLB'sdeclining financials was pending, but not yet public. The Seattlebank has 374 members, including 79 credit unions.
-
The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
1h ago -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
9h ago -
Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
11h ago -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27 -
A panel at CBA Live explored the contract provisions banks need to consider before embarking on new banking-as-a-service relationships and what catches their eyes in consent orders from banking regulators.
March 27