Items Tagged with 'FDIC'

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Monday Morning Cup of Coffee: Trump U paid AGs? NY Fed Bank heist warning?

Also, jobs crises may be like housing crash
Yahoo News broke a story on Sunday revealing that the Federal Reserve Bank of New York — which was the victim of a spectacular $81 million heist in February — actually blocked 35 requests for money transfers, but then approved five of those transfers later. Plus, two attorneys general who dismissed Trump U charges received campaign contributions.
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FDIC wins $190M settlement for toxic Countrywide mortgage bonds

Settlement stems from failure of five banks
The ghosts of Countrywide past just struck again, as the Federal Deposit Insurance Corporation announced Thursday that eight major financial institutions will pay $190 million total to settle a series of lawsuits tied to toxic Countrywide mortgage bonds that subsequently led to the failure of five banks during the housing crisis.
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Tennessee's Trust Company Bank becomes second bank failure of 2016

First FDIC-insured bank failure in state since 2013
The Tennessee Department of Financial Institutions closed Memphis-based Trust Company Bank on Friday, and appointed the Federal Deposit Insurance Corporation as receiver. Trust Company Bank becomes the second FDIC-insured bank to close in 2016, and the first in the state since 2013.
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Monday Morning Cup of Coffee: Should mortgage lenders consider payday loans?

Plus, the most polluted housing market in the country
The same regulators that have driven up mortgage loan origination costs are now training their sights on payday lenders. Payday lending rules proposed by the Consumer Financial Protection Bureau would prevent consumers from re-borrowing to pay the interest on these loans, but has other consequences that hurt both lenders and consumers.
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GE Capital mere days from 'exiting' U.S. banking system

Sells online deposit platform to Goldman Sachs
GE Capital, once a big player in housing finance, is now just a handful of days away from exiting the U.S. banking system after the company completed the sale of its online deposit platform to Goldman Sachs. According to GE Capital, that sale positions the company to terminate its FDIC insurance and "extinguish" its final U.S. bank charter.
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Five major banks fail bailout test, would need taxpayer money in crisis

Bank of America, JPMorgan Chase, Wells Fargo, others must improve 'living wills'
Five of the nation’s largest banks are not prepared for a financial crisis and would need taxpayer bailouts, the Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation announced Wednesday.
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Massive Chase mortgage bond first to meet FDIC Safe Harbor rule

$1.88 billion deal is one of largest post-crisis RMBS deals
A new mortgage bond from JPMorgan Chase Bank is not only one of the largest RMBS deals since the housing crisis, the $1.88 billion residential mortgage-backed securitization is also the first RMBS deal that qualifies for the Federal Deposit Insurance Corporation’s Safe Harbor rule, which took effect in 2010.
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Monday Morning Cup of Coffee: Federal Reserve interest rate hike guessing game

Want to recruit Millennials? SXSW is a good place to start
The Federal Reserve meets this week, and the interest rate guessing game is in full swing. The consensus is clearly that the stock market woes in the early part of the year mean the Fed will postpone an interest rate hike. Also, the latest in the New York Federal Reserve bank hack and SXSW.
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