The rule will affect more than 600 financial institutions.
Read More »Revenue Remains Constrained for Banks in Q2 Despite Record Earnings
Earnings for the U.S. banking industry totaled a record 43 billion dollars during Q2 2015, a 7 percent year-over-year increase. Regional and community banks reported significantly higher earnings than larger banks during Q2, which is consistent with past periods.
Read More »FDIC-Insured Banks Post Record Aggregate Quarterly Income
U.S. banking institutions that are insured by the Federal Deposit Insurance Corp. (FDIC) earned an aggregate net income of $43.0 billion in the second quarter of 2015, up $2.9 billion from a year ago, according to the FDIC's Quarterly Banking Profile released Wednesday.
Read More »FDIC Suit Claims BNY Mellon Breached Trustee Duties for $2 Billion Worth of RMBS
The lawsuit, filed in the U.S. District Court for the Southern District of New York, claims that BNY Mellon "shirked its duty" as a bond trustee to make sure that the securities were not defective.
Read More »Circuit Court Revives FDIC’s Securities Suit Against Deutsche, Goldman, and RBS
A judge in Austin, Texas, dismissed the lawsuits filed by the FDIC last year against the financial institutions, stating that a Texas law that required lawsuits to be filed within five years of the sale of the mortgage-backed securities superseded the federal law.
Read More »Mission Capital to Advise on $57.6 Million Loan Sale for FDIC
New York-based real estate capital markets solutions firm Mission Capital Advisors has announced that the Federal Deposit Insurance Corporation (FDIC) has retained the firm's Commercial Loan Sales and Trading Group as the loan sale advisor on a diverse portfolio of loans with an aggregate unpaid principal balance of $57.6 million.
Read More »Agencies Publish Annual List of Nonmetropolitan Distressed and Underserved Areas
The Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) have made available their annual list of non-metro areas where revitalization or stabilization activities will receive consideration as community development under the Community Reinvestment Act (CRA).
Read More »Judge Rules JPMorgan Chase Is Not Responsible For WaMu’s Pre-September 2008 Liabilities
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.
Read More »FDIC Director Submits Resignation Effective June 5
Federal Deposit Insurance Corporation (FDIC) Director Jeremiah O. Norton has resigned from that position effective June 5, according to an announcement from the FDIC.
Read More »Former FDIC Chair Chosen as President of Private Maryland College
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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