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Home | Tag Archives: FDIC

Tag Archives: FDIC

Judge Rules JPMorgan Chase Is Not Responsible For WaMu’s Pre-September 2008 Liabilities

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*+-With the ruling, Judge Rosemary Collyer in the U.S. District Court for the District of Columbia settled a long-standing dispute over who is liable for facing the claims – JPMorgan has contended that the FDIC should be responsible because of its receivership of Washington Mutual, and the FDIC has countered that JPMorgan should pick up the bill because of its acquisition of Washington Mutual.

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Former FDIC Chair Chosen as President of Private Maryland College

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*+-Former Federal Deposit Insurance Corp. chair Sheila Bair has been announced as the new president of Washington College, a private liberal arts school in Maryland, according to an announcement from Washington College. Bair will be the 28th president overall and first female president of historic Washington College, which was founded in 1782.

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Banks Ask Second Circuit Court to Dismiss FDIC’s Mortgage-Backed Securities Suit

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*+-At the heart of the FDIC's claim is that the banks misled Alabama-based Colonial Bank, an FDIC-insured institution, as to the quality of $300 million worth of mortgage-backed securities they sold to Colonial in the run-up to the financial crisis. As a result of the soured securities, Colonial suffered huge losses and went into receivership in 2009. FDIC sued the banks three years later in 2012, claiming the banks violated the Securities Act of 1933.

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Dallas Fed to Host Government Outreach Meeting on Regulatory Burdens February 4

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*+-Three government agencies – the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (FDIC) – have announced additional outreach meetings to discuss their collective effort to reduce regulatory burden placed on them by the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA).

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