The Board of Directors of the Federal Deposit Insurance Corp. today approved an interagency proposed rulemaking to implement certain provisions of Section 171 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Paramount Bank, Farmington Hills, Mich., was closed today by the Michigan Office of Financial and Insurance Regulation, which appointed the Federal Deposit Insurance Corp. as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Level One Bank, Farmington Hills, Mich., to...
Earthstar Bank, Southampton, Pa., was closed today by the Secretary of Banking of the Commonwealth of Pennsylvania, which appointed the Federal Deposit Insurance Corp. as receiver. Polonia Bank, Huntingdon Valley, Pa., was appointed to assume all of the deposits of Earthstar Bank, except for certain out-of-state...
The Federal Deposit Insurance Corp. is issuing final guidance, which reaffirms existing supervisory expectations with respect to overdraft payment programs, generally, and provides specific guidance with respect to automated overdraft payment programs.
Commercial banks and savings institutions insured by the Federal Deposit Insurance Corp. reported an aggregate profit of $14.5 billion in the third quarter of 2010, a $12.5 billion improvement from the $2 billion the industry earned in the third quarter of 2009.
Allegiance Bank of North America, Bala Cynwyd, Pennsylvania, was closed today by the Secretary of the Pennsylvania Department of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.