Comptroller of the Currency John C. Dugan issued the following statement regarding plans to strengthen the U.S. banking and financial system.
The combination of actions announced today by the U.S. government - a guarantee of bank credit, extension of federal deposit insurance to all bank transaction accounts, and...
Washington, DC-- The following statement was made by Treasury Secretary Henry M. Paulson, Jr, Federal Reserve Chairman Ben Bernanke and FDIC Chairman Sheila C. Bair:
Today we are taking decisive actions to protect the U.S. economy, to strengthen public confidence in our financial institutions, and to foster the...
The Federal Deposit Insurance Corporation (FDIC) announces a new program - the Temporary Liquidity Guarantee Program - to strengthen confidence and encourage liquidity in the banking system by guaranteeing newly issued senior unsecured debt of banks, thrifts, and certain holding companies, and by providing full...
At today's meeting of the G-7 Finance Ministers and Central Bank Governors, we finalized an aggressive action plan to address the turmoil in global financial markets and the stresses on our financial institutions. This action plan provides a coherent framework that will direct our individual and collective policy...
Main Street Bank, Northville, Michigan, was closed Oct. 10 by the Michigan Office of Financial and Insurance Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC approved the assumption of all the deposits of Main Street Bank, by Monroe Bank & Trust,...
Meridian Bank, Eldred, Illinois, was closed Oct. 10 by the Illinois Department of Financial Professional Regulation-Division of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC approved the assumption of all the deposits of Meridian Bank by National...
The G-7 agrees today that the current situation calls for urgent and exceptional action. We commit to continue working together to stabilize financial markets and restore the flow of credit, to support global economic growth. We agree to:
1. Take decisive action and use all available tools to support systemically...
The FDIC Board of Directors today adopted an interim final rule, effective immediately, to simplify the deposit insurance rules for accounts held at FDIC-insured institutions by mortgage servicers.
Under the FDIC's current rules, accounts maintained by a mortgage servicer comprised of principal and interest...
The Federal Reserve acknowledges the considerable efforts of Citigroup Inc. and Wells Fargo & Company to reach an accord regarding the acquisition of Wachovia Corporation.
While no agreement between Wells Fargo and Citigroup was reached, the two parties have indicated that they will no longer seek injunctive relief...
E-mails fraudulently claiming to be from the FDIC are attempting to trick recipients into installing unknown software on personal computers. These e-mails contain the subject line: "Funds wired into your account are stolen."
The FDIC is aware of e-mails appearing to be sent from the FDIC that ask recipients to...
OTS is issuing a new handbook section to incorporate into the examination a review of protections for military service members. This guidance incorporates Limitations on Terms of Consumer Credit Extended to Service Members and Dependents, commonly known as the Talent Amendment of 2006. We will be supplementing this...
Congress enacted "Limitations on Terms of Consumer Credit Extended to Service Members and Dependents," commonly known as the "Talent Amendment" in 2006. The Talent Amendment limits the cost associated with payday, vehicle title, and refund anticipation loans for service members and their dependents (covered...
The Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, Sveriges Riksbank, and the Swiss National Bank are today announcing reductions in policy interest rates. The Bank of Japan expresses its strong support of these policy actions.
The federal bank and thrift regulatory agencies announced today that they will request public comment on a joint notice of proposed rulemaking (NPR) to allow a banking organization to assign a 10 percent risk weight to claims on, and portions of claims guaranteed by, the Federal National Mortgage Association (Fannie...
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today voted to adopt a restoration plan accompanied by a notice of proposed rulemaking that would increase the rates banks pay for deposit insurance, while at the same time making adjustments to the system that determines what rate a bank pays...
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