Items Tagged with 'FDIC'

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FDIC reaches $63M RMBS settlement with Morgan Stanley

Funds distributed between three different receiverships
The Federal Deposit Insurance Corporation announced a $62.95 million settlement with Morgan Stanley & Company resolving claims over residential mortgage-backed securities. Under the agreement, the settlement funds will be distributed among the receiverships for the three failed banks.
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Trending Thursday: Banks make more on mortgages while government steals GSE profits?

Yale legal scholars on #FannieGate
In a scathing essay in National Review, two Yale legal/business scholars issue a pretty damning indictment of the patina of legality smeared atop the taking of shareholder profits from Fannie and Freddie. Plus, homeownership hits a half-century low while apps grow. Here's everything that's happening.
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FDIC sues 3 banks over faulty mortgage-backed securities

Citigroup, US Bancorp now in the limelight
The Federal Deposit Insurance Corporation sued Citigroup and US Bancorp, along with the Bank of New York Mellon, on Wednesday in an attempt to get back more than $695 million that it lost from selling shoddy residential mortgage-backed securities once owned by a failed Texas bank.
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FDIC Director Jeremiah Norton resigns

Served since April 2012
The director of the Federal Deposit Insurance Corporation, Jeremiah Norton, resigned his position on the FDIC’s board of governors on Friday. In a letter to President Obama, Norton said he believes that it is “an appropriate time to conclude my service as I am now approaching nearly two years since the expiration of my term.”
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