The proposal would require the FDIC
to automatically apply small bank credits to quarterly assessments when the reserve ratio is at least 1.35 percent, rather than 1.38 percent, as required under current regulation.
A consolidated list of all state nonmember banks whose evaluations have been made publicly available since July 1, 1990, including the rating for each bank, can be obtained atwww.fdic.gov or from the FDIC
's Public Information Center, 3501 Fairfax Drive, Room E-1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).
Compliance Examiner Estefania Sasone has seized her moment and taken charge.
(NASDAQ: GSBC) has said that its wholly owned subsidiary, Great Southern Bank, has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC
) to terminate the bank's loss sharing agreements as part of its 2012 acquisition of certain assets and assumption of all deposits of Maple Grove, Minnesota-based Inter Savings Bank, through an FDIC-assisted transaction.
Commercial bank Columbia Banking System Inc (Nasdaq:COLB) reported on Thursday that it has paid USD4.7m for all the existing loss share agreements to FDIC
The transaction is one of the largest cash loan sales executed by the FDIC
in the past 10 years.
According to Legaltech News, an outgoing FDIC
employee placed confidential data on a USB drive, and hackers, possibly from China, placed malware on 12 computers and 10 servers, including computers used by the FDIC
chairman, chief of staff, and general counsel.
The report claimed cyberattackers, purportedly from China, placed backdoor malware on a dozen workstations and 10 servers, including those of the chairman, chief of staff and the FDIC
's general counsel.
In its complaint against the directors and officers, the FDIC
stated that it had "succeeded to all of the rights and assets of Westernbank, including its rights and claims against its former officers and directors." The FDIC
was more specific in its amended complaint, where it asserted authority under the Financial Institutions Reform, Recovery and Enforcement Act, which states that the FDIC
A report from Cornerstone Research indicates that nearly 40 percent of the 297 financial institutions that failed in 2009 or 2010 have been subject to FDIC
litigation or have settled with the FDIC
prior to a lawsuit.
"The fact that all FDIC
settlements are made public puts pressure on the FDIC
to maintain a hard stance," says Catherine Galley, a senior vice president of Cornerstone Research and one of the report's authors.