FDIC

The Federal Deposit Insurance Corp.'s framework for resolving a large bank failure is inadequate and leaves the door open to future taxpayer-subsidized bailouts.

Eugene Scalia, former Secretary of Labor and the banking lobby's lawyer on retainer for a potential challenge to Washington's capital reform effort, discusses the state of administrative law after the overturning of a key legal precedent.

The company says the FDIC's "pause letters" to banks and denial of Freedom of Information Act requests are illegal.

Four large banks were dinged in their resolution plan reviews for shortcomings in their plans to unwind their derivatives positions in times of stress. But whether the problem is with the banks' plans or the regulators' expectations for a legally ambiguous product is a matter of debate.

The two divisions — one focused on employee conduct, the other aimed at improving hiring practices — were created in response to last month's explosive report on widespread harassment and discrimination at the Federal Deposit Insurance Corp.

The Senate Banking Committee will consider the nomination of Christy Goldsmith Romero — the administration's pick to take over the Federal Deposit Insurance Corp. — on July 11.

The FDIC board Thursday approved stricter resolution plans for larger banks and introduced a new bipartisan procedure to expedite merger application reviews.

President Joe Biden also nominated fellow Commodity Futures Trade Commission board member Kristin Johnson to a top bank regulatory post at the Treasury Department.

A House Financial Services Committee's hearing on workplace misconduct at the Federal Deposit Insurance Corp. Wednesday offered Republicans an opportunity to call for FDIC Chair Martin Gruenberg's immediate resignation, but Democrats pushed back against the implication that Gruenberg alone is to blame.

The White House is preparing to pick Christy Goldsmith Romero, a top US derivatives regulator, to lead a revamp at the Federal Deposit Insurance Corp., according to a person familiar with the matter.