The FDIC and the Federal Reserve Board found that in December 2016, Wells Fargo had not yet remedied two of the three deficiencies the agencies had previously identified. Subsequently, the agencies imposed restrictions on the growth of Wells Fargo’s international and non-bank activities. The revised plan submitted by Wells Fargo in march adequately repaired the two deficiencies. Wells Fargo has remedied the deficiencies and will no longer be subject to the growth restrictions which were imposed.
Read More »FDIC Official Plots Changes for Dodd-Frank’s Bank Regulations
The proposed rules would seek to provide banks with forms of regulatory relief and tie up insolvency concerns for those considered too big to fail.
Read More »Banks Resubmit Resolution Plans to Regulators
Federal regulators determined in April that the resolution plans of eight "systemically important" bank holding companies were not quite up to speed. But the companies are trying to fix things.
Read More »FDIC Reaches RMBS Settlement with Eight Institutions
The FDIC has filed a total of 19 RMBS lawsuits on behalf of eight institutions seeking damages for violations to federal and state securities laws.
Read More »Got Capital? Banks Will Have to Prove It
Under a newly proposed rule, the largest U.S. banks will have to prove that they have enough cash set aside for business operations up to a year to lower liquidity risk among the institutions to reduce the chances of yet another crash.
Read More »Regulators Dismiss 5 Big Banks’ Breakup Plans
The Federal Reserve and the FDIC have jointly determined that the 2015 resolution plans, or “living wills,” of five domestic systemically important financial firms are “not credible."
Read More »JPMorgan Chase RMBS Deal First to Qualify Under Safe Harbor
JPMorgan Chase Bank has become the first institution to file a residential mortgage-backed securitizations deal that qualifies under the Federal Deposit Insurance Corporation’s six-year-old Safe Harbor rule.
Read More »Feds Update Rules for State-Run Appraisal Management Companies
Six federal financial regulatory agencies Thursday issued minimum requirements for state registration and supervision of entities that provide appraisal management services to lenders, underwriters, and other principals in the secondary mortgage market.
Read More »Former FDIC Chairman Criticizes Lack of GSE Reform
On an Investors Unite Conference call Wednesday, Isaac said while in the midst of the 2008 financial crisis the government used Fannie and Freddie to stabilize housing finance, the government’s current actions could cause another, potentially worse, crisis.
Read More »Atlanta Bank Shuts Down in 2015’s Third Closing
Georgia's Department of Banking and Finance took possession of Capitol City Bank & Trust Company on Friday, citing the bank's "unsound condition" as a result of losses on real estate loans. Despite receiving help to shore up its capital, it was unable to recover following the financial crash.
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