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Items Tagged with 'FDIC'

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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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