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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: FDIC

FDIC stories: 58 news summaries

41 - 58 of 58 Stories | << Prev 1 2 3

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Senate Puts Pressure on House to Pass Bailout

New bill will cost even more

Oct 2, 08 9:22 AM CDT
(Newser) - By resoundingly passing its version of the bailout bill, the Senate has ratcheted up the pressure on House leaders to go along with the plan, the Swamp reports. “We’re going to fix the problem this week,” promised Mitch McConnell. The new bill more than doubles the FDIC... More »

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Senate • Jack Reed • Alternative Minimum Tax • FDIC • House Republicans • bailout • financial crisis

OPINION

Better Than a Bailout:
Boost FDIC Coverage to $1M

Higher deposit insurance would bring money in, help thaw credit markets

Oct 1, 08 10:17 AM CDT
(Newser) - Congress should stop fighting over the Paulson bailout, writes BusinessWeek economist Michael Mandel, and approve an expansion of FDIC deposit insurance to $1 million. It should also triple deposit insurance reserves to $145 billion. It would solve the immediate problem, calming the hysteria in the market, and attract funds to... More »

MORE ABOUT:
Henry Paulson • FDIC • investment banks • commercial banks • banking industry • financial crisis • Sheila Bair

Raising Deposit Insurance May Save Bailout Package

Help for George Baileys could win over balky politicians

Oct 1, 08 2:13 AM CDT
(Newser) - A plan to boost deposit insurance for bank accounts is gaining traction in Washington and could help rescue the rescue package, the Wall Street Journal reports. Community bankers have been pushing hard for a hike from the current $100,000 limit to $250,000. The move, which would also ease... More »

MORE ABOUT:
bank • small business • FDIC • bailout • financial crisis • deposit insurance

Obama Wants to Hike Deposit Insurance

Calls for revived bailout to include increase to $250K from $100K

Sep 30, 08 8:22 AM CDT
(Newser) - Barack Obama today proposed to revive the $700 billion bailout lying bloodied on the House floor with a provision increasing federal insurance to $250,000 from the current $100,000, Politico reports. The presidential hopeful called it “a step that would boost small businesses, make our banking system more... More »

MORE ABOUT:
Barack Obama • markets • FDIC • Election 2008 • bailout • economy

 How to Protect Your Money 

Insured accounts best bet as Wall Street tumbles

Sep 30, 08 2:56 AM CDT
(Newser) - After the biggest single-day's loss in Wall Street's history, even Americans whose sole investment is a bank account are nervously scratching their heads. Here are some guidelines to the failed-bailout crisis from the New York Times:
  • What happens next? The market's deep dive may scare Congress into passing
... More »

MORE ABOUT:
Wall Street • FDIC • subprime crisis • bailout • credit market chaos • financial crisis

(Newser) - The failure of the bailout bill to clear the House has American consumers checking their retirement accounts, their wallets, and even their mattresses as they grapple with the implications of the worsening financial situation. With falling oil prices seemingly the only silver lining for the average consumer, MSNBC offers some... More »

MORE ABOUT:
FDIC • subprime crisis • bailout • credit market chaos • financial crisis • money-market funds

 Citigroup to 
 Buy Wachovia, 
 Backed by FDIC 

Deal leaves three 'behemoths' in financial crisis

Sep 29, 08 9:00 AM CDT
(Newser) - Citigroup will purchase struggling Wachovia’s banking operations in a $2.2-billion government-backed deal, the Wall Street Journal reports. The FDIC has agreed to take on a portion of potential losses in the plan, which leaves three banks, including Bank of America and JP Morgan Chase, in control of nearly... More »

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Citigroup • Wachovia • credit crisis • FDIC • financial crisis

JPMorgan Chief Had Long Drooled Over WaMu

Firm writes down $31 billion in bad debt, but builds nation's largest bank

Sep 26, 08 2:45 PM CDT
(Newser) - The failure of Washington Mutual was an opportunity for JPMorgan Chase CEO Jamie Dimon, who long held a desire to buy the bank, the Seattle Times reports, and saw its large West Coast presence as particularly attractive. Now Dimon, who incorporated Bear Stearns earlier this year, has used the credit... More »

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mergers and acquisitions • credit crisis • Washington Mutual • FDIC • JPMorgan Chase • mergers • financial crisis

OPINION

 We Don't Really Need a Bailout 

With investment banks dead, the point of this is ... what, exactly?

Sep 25, 08 1:22 PM CDT
(Newser) - Now that all the big investment firms are no more, why exactly do we need a bailout? Paulson’s plan involves buying assets that are illiquid, but not worthless. “But regular banks hold assets like that all the time,” writes James Galbraith in the Washington Post.... More »

MORE ABOUT:
Henry Paulson • Treasury Department • FDIC • bailout • investment banks • financial crisis

Pols Pitch Federal Agency
to Take On Bad Debt

Agency would formalize what feds are already doing in money crisis

Sep 17, 08 2:40 AM CDT
(Newser) - The idea of creating a federal agency to dispose of the toxic debt at the heart of the credit crisis is gaining traction in Washington, the New York Times reports. The proposed agency would resemble one set up in 1989 to resolve the savings and loan crisis—but in a... More »

MORE ABOUT:
Federal Reserve • debt • House Financial Services Committee • credit crisis • Barney Frank • FDIC • bailout • financial crisis

 Feds Seize 2 Failed Banks

Western banks sold to Mutual of Omaha

Jul 26, 08 6:07 AM CDT
(Newser) - The housing bust and credit crunch have toppled two more banks, Reuters reports. Federal regulators have taken over First National Bank of Nevada and California's First Heritage Bank and sold them to Mutual Bank of Omaha. The undercapitalized institutions were the sixth and seventh to go under in the US... More »

MORE ABOUT:
bank • banking • FDIC • bank failure

Failed FDIC-Run Bank
Added Fuel to Subprime Fire

Feds seized Ill.-based Superior in 2001, but it continued to write, sell off bad loans

Jul 21, 08 9:21 AM CDT
(Newser) - An Illinois bank seized by regulators in 2001 continued to write risky subprime mortgages for months after it was put under the day-to-day supervision of the Federal Deposit Insurance Corporation, the Wall Street Journal reports. Many of the loans—some with interest rates above 12%—have been foreclosed; a Texas... More »

MORE ABOUT:
foreclosure • IndyMac • FDIC • subprime crisis • bank failure • Superior Bank • financial crisis

FBI Begins Fraud Probe
of IndyMac Mortgages

Failed bank may have given improper loans to people with bad credit

Jul 16, 08 7:11 PM CDT
(Newser) - The FBI is investigating failed bank IndyMac for possible fraud related to its mortgage-lending business, Bloomberg reports. The agency is looking into whether the bank gave improper loans to people with shaky credit. It is working closely with the FDIC, which seized the bank's assets last week. IndyMac specialized in... More »

MORE ABOUT:
housing market • IndyMac • bank fraud • FDIC • bank failure

 FDIC Hunts for IndyMac Buyer 

Feds want to see it as a whole; see more small banks failing in future

Jul 14, 08 2:40 PM CDT
(Newser) - The Federal Deposit Insurance Corporation is looking to sell recently capsized IndyMac as a whole to one healthy bank, an executive told Reuters today. The FDIC took over IndyMac on Friday after nervous customers withdrew more than $1.3B in 11 days. "I don't expect there will be large... More »

MORE ABOUT:
money • IndyMac • FDIC • subprime crisis • banks • John Bovenzi

analysis

IndyMac Failure Exposes Risk for Uninsured $$$

Depositors with more than $100K in the bank could be in trouble

Jul 12, 08 9:29 PM CDT
(Newser) - IndyMac Bank's failure yesterday was a "wake-up call" to anyone with deposits above the $100,000 FDIC insurance limit, Terry Savage writes in Street.com. Americans have more than $2.6 trillion in uninsured accounts, and 10,000 depositors have more than $1 billion at risk at IndyMac alone.... More »

MORE ABOUT:
insurance • bank • IndyMac • FDIC • bank failure

 Feds Seize Failed
 IndyMac Bank 

Senator's comments led to takeover, regulator says

Jul 11, 08 7:03 PM CDT
(Newser) - As mortgage lenders Freddie Mac and Fannie Mae crowded the headlines today, Washington snatched up IndyMac Bank in the second-largest US bank failure in history, the Wall Street Journal reports. The Pasadena, Calif. savings and loan, which owns about $32 billion in assets, saw stocks fall from $45 last year... More »

MORE ABOUT:
takeover • IndyMac • FDIC • lending practices • subprime crisis • bank regulation • financial crisis

Feds Brace
for a Wave of
Bank Failures

FDIC hires extra staff
to help with boost in 'problem' banks

Feb 26, 08 7:13 AM CST
(Newser) - Federal regulators are gearing up for as many as 100 bank failures in the next year—the most since the savings and loan crisis that saw more than 1,000 S&Ls go belly up in the ’80s and ’90s—as the subprime contagion continues to decimate the... More »

MORE ABOUT:
credit crisis • FDIC • housing crisis • subprime crisis • bank failure • financial crisis

Some Critics of Rate Freeze May Be Angry Investors

FDIC chief speculates that investors are blasting the plan to boost their income

Dec 8, 07 1:34 PM CST
(Newser) - Critics of the government’s new rescue plan for strapped homeowners may be investors who would cash in on a foreclosure-ridden market, one of the plan’s chief architects charges. Sheila Blair, head of the FDIC, speculated that naysayers may have a conflict of interest, the Wall Street Journal reports.... More »

MORE ABOUT:
investors • subprime mortgages • foreclosure • mortgage • interest rate • FDIC • homeowners

41 - 58 of 58 Stories | << Prev 1 2 3


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