Financial Regulatory Forum

FDIC proposals on banks buys draw fire as comments end

August 11, 2009

A pedestrian walks in front of a BankUnited branch in downtown Miami, Florida May 22, 2009. Florida-based BankUnited, which was closed by the U.S. government and sold to investors, was conducting business as usual on Friday and there was no sign of panic among customers, its new chief executive said. Banking industry veteran John Kanas, who also took over as chairman, told Reuters that BankUnited planned no immediate layoffs among its work force of 1,100 and expected to expand branches in its Miami base while closing branches outside the city. REUTERS/Carlos Barria  (UNITED STATES POLITICS BUSINESS)   By Paritosh Bansal
   NEW YORK, Aug 10 (Reuters) – Lone Star Funds joined other big private equity names in opposing proposed U.S. rules for investments in failed banks, as a designated period for public comment on the draft regulations comes to an end on Monday.

FDIC warns U.S. banks they may need more home-equity reserves

August 4, 2009

By Jonathan Stempel
NEW YORK, Aug 3 (Reuters) – A U.S. regulator said on Monday banks may need to boost their reserves for losses on home equity loans, after housing prices fell by roughly one-third from their 2006 peak. (more…)

U.S. bank regulators dig in against Obama shake-up

August 4, 2009

U.S. Treasury Secretary Timothy Geithner (file photo) WASHINGTON, Aug 4 (Reuters) – Disagreement within the Obama administration over reshaping U.S. financial regulation flared on Tuesday, with top bank regulators defending their turf against key parts of a broad bank supervision overhaul plan. (more…)

US bank regulator seen moving fast on private equity -sources

August 4, 2009

Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Bair (file)By Megan Davies
NEW YORK, Aug 3 (Reuters) – A U.S. bank regulator is expected to move quickly in finalizing guidelines on private equity investments in failed banks, possibly easing one of its most controversial proposals, sources said on Monday. (more…)

U.S. FDIC launches test of toxic asset sale program

July 31, 2009

WASHINGTON, July 31 (Reuters) – The U.S. Federal Deposit Insurance Corp is launching the first test of its Legacy Loans Program to help banks rid their balance sheets of toxic assets so they can raise new capital and increase lending, the agency said on Friday.

U.S. FDIC wants limits on consumer finance agency authority

July 24, 2009

WASHINGTON, July 24 (Reuters) – The Federal Deposit Insurance Corp on Friday argued for limits on a new agency to protect consumers from risky financial products and warned against stripping consumer protection duties from bank regulators. (more…)

Obama team asks Congress to combine bank regulators

July 24, 2009

By David Lawder and Patrick Rucker
WASHINGTON, July 23 (Reuters) – The U.S. Treasury Department on Thursday sent Congress a plan that would consolidate two federal bank regulators in a move it said would help prevent lenders from seeking the loosest oversight. (more…)

CIT survival ensnared in regulatory battle

July 13, 2009

By Elinor Comlay and Karey Wutkowski
NEW YORK/WASHINGTON, July 13 (Reuters) – The survival of CIT Group Inc <CIT.N>, a key source of financing for thousands of small and medium-sized companies, became ensnared in disagreements between regulators in Washington on Monday. (more…)