Alpha Bank and Trust, Alpharetta, Georgia, was closed today by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank, National Association, St. Cloud,...
On October 24, 2008, the FDIC was named as Receiver for Alpha Bank & Trust, Alpharetta, Georgia by the Georgia Department of Banking and Finance. All insured non-brokered deposits were transferred to the acquiring institution; for further information, please visit the FDIC web site: Alpha Bank & Trust (www.fdic.gov)....
Following a systemic risk determination pursuant to section 141 of the Federal Deposit Insurance Corporation Improvement Act of 1991, in an effort to avoid or mitigate serious adverse effects on economic conditions and financial stability, the FDIC has issued the attached interim rule establishing the Temporary...
The Financial Crimes Enforcement Network (FinCEN), as part of its efforts to make the administration of the Bank Secrecy Act (BSA) more efficient and effective, today announced the publication of a proposal to simplify its rules and regulations by centralizing them in its own new chapter of the Code of Federal...
On Monday Oct 20, a series of threatening letters filled with an unknown powder started showing up at financial institutions across America, causing a massive response and ensuing multi-agency investigation led by the FBI and the U.S. Postal Inspection Service in concert with state and local authorities.
Chairman Dodd, Senator Shelby, members of the committee, good morning and thank you for the opportunity to appear before you today. I would like to provide an update on the Treasury Department's progress implementing our authorities under the Emergency Economic Stabilization Act of 2008.
Every American depends on...
Chairman Dodd, Senator Shelby, and Members of the Committee, I appreciate the opportunity to testify on behalf of the Federal Deposit Insurance Corporation (FDIC) regarding recent efforts to stabilize the nation's financial markets and reduce foreclosures. The events of the past several weeks are unprecedented.
FinCEN publishes The SAR Activity Review - Trends, Tips & Issues periodically as a product of close collaboration between FinCEN's regulatory, law enforcement and industry partners. It is intended to provide meaningful information about the preparation, use, and value of Suspicious Activity Reports (SARs) filed by...
Buongiorno and welcome to Washington, DC! I'm pleased to have the
opportunity to talk to you today. Let me begin by acknowledging the wonderful
contribution Italians have made to the United States.
Our country has gained much from our citizens who trace their ancestry to Italy,
both in cultural and economic...
The Federal Reserve Board on Wednesday announced that it will alter the formula used to determine the interest rate paid to depository institutions on excess balances.
Previously, the rate on excess balances had been set as the lowest federal funds rate target established by the Federal Open Market Committee (FOMC)...
My remarks will focus on the future of our economic relationship with China. We will soon have a new U.S. President who will face the continuing challenge and opportunity of responding to China's emergence as a global economic leader.
The Federal Reserve Board on Tuesday released a Statement concerning its action of October 12, 2008, approving the proposal by Wells Fargo & Company, San Francisco, California, to acquire Wachovia Corporation, Charlotte, North Carolina.
Various public records in the United States contain Social Security numbers (SSNs) and other personal identifying information that could be used to commit fraud and identity theft. In recent years, record keepers in some localities have been maintaining electronic images of their records that can be easily transferred...
The Department of the Treasury's Office of Foreign Assets Control has added new entries to its Specially Designated Nationals and Blocked Persons list.
Highlights:
On September 12, 2008, the Department of the Treasury's Office of Foreign Assets Control (OFAC) added entities to the Specially Designated...
The Federal Deposit Insurance Corporation (FDIC) will host the International Association of Deposit Insurers (IADI) 7th Annual Conference October 29-30, 2008, in the auditorium at the FDIC's L. William Seidman Center at Virginia Square located at 3501 N. Fairfax Drive, Arlington, Virginia. The theme for the two-day...
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