Financial Regulatory Forum

Key US senator determined to create super bank cop

U.S. Senator Christopher Dodd (D-CT) speaks in front of his close friend Senator Edward Kennedy's casket during a "Celebration of Life Memorial Service" for Kennedy at the John F. Kennedy Library and Presidential  Museum in Boston, Massachusetts August 28, 2009. By Karey Wutkowski
WASHINGTON, Sept 29 (Reuters) – A senior U.S. Democratic senator said on Tuesday he is moving forward with his effort to consolidate bank supervision into a single federal regulator, despite criticism from current bank regulators who do not want to lose power.

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U.S. FDIC to propose banks prepay 3 years of fees – source

Federal Deposit and Insurance Corporation (FDIC) Chairman Sheila Bair addresses the HOPE Global Financial Literacy Summit at a community center in Washington June 17, 2009.  REUTERS/Jonathan Ernst    (UNITED STATES POLITICS BUSINESS HEADSHOT) By Karey Wutkowski

WASHINGTON (Reuters) – U.S. bank regulators are expected to propose Tuesday that banks prepay three years of regular assessments to replenish the dwindling deposit insurance fund, according to a source familiar with the matter.

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Rep. Frank revises planned U.S. consumer agency bill to meet business demands

REGULATION-SUMMIT/ By Karey Wutkowski and Rachelle Younglai
WASHINGTON, Sept 25 (Reuters) – Powerful U.S. lawmaker Barney Frank bowed to some of the financial industry’s demands and softened parts of his bill to create an agency to protect consumers from risky financial products, according to a copy of the draft bill first obtained by Reuters on Friday.

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FDIC to meet Sept. 29 on rebuilding insurance fund

Federal Deposit and Insurance Corporation (FDIC) Chairman Sheila Bair WASHINGTON, Sept 23 (Reuters) – U.S. regulators will meet next week to discuss how to rebuild the deposit insurance fund, which has been depleted by a sharp increase in bank failures, the Federal Deposit Insurance Corp said in an agenda notice on Wednesday.

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SCENARIOS-US weighs how to rebuild depleted bank insurance fund

Federal Deposit and Insurance Corporation (FDIC) Chairman Sheila Bair,  June 17, 2009. By Karey Wutkowski
WASHINGTON, Sept 22 (Reuters) – U.S. bank regulators plan to meet next week to propose options for replenishing the insurance fund used to safeguard bank deposits, including tapping a line of credit with the Treasury Department.

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Senior US senator favors bank super-cop idea -aide

U.S. Senator Christopher Dodd (D-CT) speaks in front of his close friend Senator Edward Kennedy's casket during a "Celebration of Life Memorial Service" for Kennedy at the John F. Kennedy Library and Presidential  Museum in Boston, Massachusetts August 28, 2009. Kennedy died late Tuesday after a battle with cancer. REUTERS/Brian Snyder    (UNITED STATES POLITICS OBITUARY)By Kevin Drawbaugh
WASHINGTON, Sept 20 (Reuters) – The U.S. Senate’s top legislator on financial regulation favors reducing the number of bank supervisory agencies more sharply than the Obama administration proposes, said a senior Senate aide on Sunday.

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FDIC to consider ways to replenish deposit fund

WASHINGTON, Sept 18 (Reuters) – U.S. bank regulators will meet at the end of the month to explore options, possibly including some that are not well-known, to replenish the dwindling fund that safeguards bank deposits, the chairman of the Federal Deposit Insurance Corp said on Friday.

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U.S. FDIC picks winner for test of toxic-loan plan

By Karey Wutkowski
WASHINGTON, Sept 16 (Reuters) – The Federal Deposit Insurance Corp has selected a Texas-based mortgage servicer as the first buyer in a test of its program aimed at cleansing toxic loans from banks’ balance sheets.
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US bank regulators eye options to end debt guarantee

By Karey Wutkowski
WASHINGTON, Sept 9 (Reuters) – U.S. regulators on Wednesday proposed two alternatives to phase out a government program that guarantees certain debt issued by banks.

The Federal Deposit Insurance Corp voted to put out for public comment one approach that would have the program expire on Oct. 31, as planned. It also proposed to have the program expire on that date but to establish a limited six-month emergency guarantee program that would be available to institutions suffering from market disruptions beyond their control.

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FDIC chief warns against single U.S. bank regulator

Federal Deposit and Insurance Corporation (FDIC) Chairman Sheila Bair addresses the HOPE Global Financial Literacy Summit at a community center in Washington June 17, 2009.  REUTERS/Jonathan Ernst  Sept 1 (Reuters) – A single regulator for all U.S. banks is not the solution to streamline the financial regulatory system, Federal Deposit Insurance Corp Chairman Sheila Bair wrote in an opinion column in the New York Times.
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