Financial institutions pay quarterly into the Deposit Insurance Fund or "DIF," and the size of their fees is based on an assessment of the institution's size and risk profile. The account exists to repay insured depositors when a financial institution fails, explained Greg McB...
Crypto exchange Coinbase says that the US Federal Deposit Insurance Corporation (FDIC) sent letters to financial institutions instructing them not to offer crypto banking services. In aseries of postson X (formerly Twitter), Coinbase’s Chief Legal Officer Paul Grewal said that FDIC did this as ...
The article reports on the perspectives of Federal Deposit Insurance Corp. (FDIC) chairman Sheila Bair on subprime mortgage crisis in Washington. Speaking at the New York Bankers Association meeting, Bair blamed the crisis partly on unregulated loan brokers. She explained that she does not oppose ...
On November 17, Sheila Bair, the former Chair of the Federal Deposit Insurance Corporation (FDIC) during the financial crisis of 2008,went on CNBCto lament the lack of controls leading to the collapse of the crypto currency...
For starters, “FDICexaminers” are not investment bankers from Goldman Sachs or Perella Weinberg Partners. They don’t arrange mergers and acquisitions. If bank examiners from the Federal Deposit Insurance Corporation are on the premises of Silvergate Bank, ...
[A] domestic insurance company, bank, savings bank, cooperative bank, … or industrial or similar institutionwhich is an insured bank as defined in section 3(h) of the Federal Deposit Insurance Act, except that an uninsured State member bank, or a corporation organized under ...
the "insulating statutes" passed by many states which protect officers and directors from liability. Thus, they contend, state laws allowing liability for simple negligence were never intended to be affected by § 1821(k). The plaintiff's response quotes the Senate floor managers, who explained:...
MEMPHIS -- The Federal Deposit Insurance Corp.'s agreement in mid-June to take over from First Tennessee Bank's balance sheet the last $170 million in nonperforming and weak loans and assets from the former United American Bank in Knoxville has removed a major uncertainty from the bank's ...
Saving for College released an update to its study on FDIC-Insured Products in 529 Plans. This report reviews currently available federally-insured 529 college savings plan options, including products that are insured by the Federal Deposit Insurance Corporation (FDIC). Every 529 plan program was re...
The article focuses on rules by the Federal Deposit Insurance Corp. to take effect on August 18, 2008 affecting 160 of the largest banks in the U.S. Chairman Sheila Bair explained the rules will mitigate the spillover effects of a failure including risks to the payments system, problems ...