U.S. FDIC Leader Announces Upcoming Proposal for First GENIUS Act Rules This Month
FDIC Plans Regulations for Stablecoin Issuers The acting leader of the Federal Deposit Insurance Corporation (FDIC) has announced intentions to propose rules for stablecoin issuers by the end of December. This information came during a testimony before the House Financial Services Committee, preparing for delivery on Tuesday. The regulator’s agenda includes how to deal with […]
Capital One Files Lawsuit Against FDIC, Claiming Excessive Fees Linked to Banking Crisis
Capital One has filed a lawsuit against the Federal Deposit Insurance Corporation (FDIC), claiming that the bank was overcharged by more than $149.2 million during a special valuation set to compensate for losses incurred in the deposit insurance fund. This valuation arose from the collapses of Silicon Valley Bank and Signature Bank earlier in 2023. […]
FDIC Reports Capital One-Discover Agreement Affected Bank Earnings
Banking Sector Profits Dip in Q2, Highlighting Challenges The Federal Deposit Insurance Corporation (FDIC) released data on August 26, indicating that banking sector profits reached $66.9 billion in the second quarter. This marks a slight decline of 1% compared to the previous quarter. The regulator pointed out that rising supply costs mainly stemmed from the […]
FDIC: ‘Possible fraud’ played a role in Texas bank failure
Diving briefs: Santa Anna National Bank in Santa Anna, Texas, recently became the second bank to fail this year, according to reports from the Office of the Comptroller of the Currency. The Federal Deposit Insurance Corporation has announced that the Coleman County State Bank from Coleman, Texas, will be taking over all insured deposits and […]
Bank of America ordered to pay $540 million in long-running lawsuit from the FDIC – Yahoo Finance
NEW YORK (AP) – A federal judge has ordered Bank of America (BAC) to pay more than $540 million to settle a long-term lawsuit from US regulators that allegedly claiming a company that is being paid a mandatory deposit insurance assessment. The order reached March 31st and released Monday, the order arrived more than eight […]
FDIC Ends Disclosing Total Assets of Banks on “Problem Bank List,” as Disclosure Might Suddenly Trigger a “Disorderly Run” – WOLF STREET
Is there a “unrealized loss” disclosure on the bank's balance sheet next? Wolf Richter on Wolf Street. Travis Hill, chairman of the FDIC board of directors who was sworn in as Vice Chairman of FDIC on January 5th, issued a statement along with documents from FDIC quarterly report on FDIC Insurance Banks as well as […]
FDIC Suit Against Former SVB Execs Highlights Continued Scrutiny of Risk Models – PYMNTS.com
The arrival of a new government has ushered in a phase of uncertainty surrounding the state of banking regulation and the regulator itself.. Beyond the usual means of rule-making and enforcement, the courtroom movement also offers additional ways to shape corporate policy and internal operations, and litigation could be beneficial to the industry as a […]
FDIC sues 17 former Silicon Valley Bank executives over collapse – CNN
(Reuters) — The FDIC on Thursday sued 17 former Silicon Valley bank executives and directors for alleged gross negligence and breaches of fiduciary duty that contributed to the bank's collapse in March 2023, one of the nation's largest bank failures. It sought recovery of billions of dollars. In a complaint filed in San Francisco federal […]
FDIC sues 17 former Silicon Valley Bank executives, directors over collapse – Yahoo Finance
Jonathan Stempel (Reuters) – The FDIC on Thursday accused 17 former Silicon Valley bank executives and directors of gross negligence and breaches of fiduciary duty that contributed to the bank's collapse in March 2023, one of the largest U.S. bank failures. They sued people and sought to recover billions of dollars. In a complaint filed […]
FDIC Gives BlackRock New Deadline to Resolve Banking Oversight Questions – PYMNTS.com
asset manager black rock is reportedly facing new deadlines over investments in government-backed banks. of The company missed the Jan. 10 deadline issued by the federal government. Federal Deposit Insurance Corporation (FDIC) and now has until February 10 to resolve issues related to the company's oversight of bank investments.Bloomberg News reported Sunday (January 12), citing […]