FDIC

The industry’s profit was $60.2 billion, a more than 7% increase from the previous record set in the first quarter and a 25% leap from a year earlier, the agency said in its quarterly report on the industry's health.

The regulation implements a recent legislative provision dealing with how banks comply with post-crisis liquidity requirements.

Although it’s required to by law, the Federal Deposit Insurance Corp. has not had an independent director with state bank supervisory experience since 2012. It’s time for that to change.

The veteran banking attorney, who also worked at the FDIC and OCC, passed away Tuesday following a battle with cancer.

The companies had been unable to secure regulatory approval for the deal, which was announced a year ago.

Organizers of Piermont Bank said in their application with the FDIC that they want to raise $100 million and eventually operate in several urban coastal communities.

Tekalign Gedamu, who would chair Marathon International Bank, says that Zekarias Tamrat is bad-mouthing the de novo effort following his dismissal and a subsequent payment disagreement. Tamrat was slated to be the bank's president.

A new law exempts small lenders from expanded mortgage data reporting, but regulators are signaling that banks and credit unions no longer have to collect the data either.

Readers react to Wells Fargo's latest penalty, weigh in on the Vatican's criticism of credit default swaps and opine on the long tail of the financial crisis.

Zekarias Tamrat blamed the proposed Marathon International Bank's chairman and directors for delays in getting its application approved.