FDIC

Jessica Silver-Greenberg and Ben Protess have written an extraordinarily important column for the New York Times about embedded examiners at JP Morgan.  http://www.nytimes.com/2012/05/26/business/regulators-role-at-jpmorgan-scrutinized.html?_r=2&hp Embedded examiners are federal...

The good news is that we finally have the second group of indictments of senior bank officers. The prosecution involves officers of United Commercial Bank (UCB), a roughly $10 billion San Francisco bank that originally specialized in lending to Chinese-Americans and became primarily a commercial...

Ben Bernanke should be fired. Yup. That's right. The Chairman of the Federal Reserve should lose his job. The Federal Reserve has done nothing useful to help maximize employment (one of two mandates), but has certainly increased inflation (controlling it is the other mandate). Since the Great...

President Barack Obama asked Congress yesterday to get a deal done on raising the debt ceiling, as opposed to a makeshift, short-term solution. Obama also wants tax hikes included in the deficit reduction deal. Yesterday, Moody's cut Portugal's credit standing to junk, warning the country may...

Nearly 60 million Americans or about 7.7% of households fall under the category of being “Underbanked”. This term refers to individuals or households without a traditional checking or savings account. According to the FDIC, these people feel they cannot make use of a traditional bank due to...

A new law has been proposed that would clarify how the Federal Deposit Insurance Corp. (FDIC) responds to the seizing and dismantling of failed financial firms. Currently, the FDIC operates under the Dodd-Frank Wall Street reform law. This law gives the FDIC authority to dismantle a company that...

Did you think that the banking crisis was over? Federal regulators are continuing to shut down struggling banks. 129 banks have failed this year alone. The Federal Deposit Insurance Corp. shut down Wakulla Bank with $424.1 million in assets and Shoreline Bank in with $104.2 million in assets. The...

Shelia Bair, Chairman of the FDIC, said Senator Robert Byrd's (D-WV) death Monday morning could affect passage of the financial reform bill. "It does create a new dynamic," said the Federal Deposit Insurance Corporation's Bair. "It was razor thin to begin with, so it does introduce a new unknown...

A couple of days ago the top trending topic on Twitter was “#4wordsbeforedeath” meaning if you had 4 words to say before you died, what would they be? (for those of you who don’t follow us on Twitter, find us @llenrockgroup) Llenrock’s 4 words were “buy low, sell high.” Someone...

Since the financial crisis began a few years ago, the Federal Deposit Insurance Corporation has been forced to deal with almost 240 bank failures. But it looks like it may finally be getting some help. Private investors have begun to take over banks from the FDIC, easing the strain on the...

Shares of FirstMerit Corp. (NASDAQ: FMER) are selling off by 5.66% today, currently trading $20.03. This comes after the company announced that it has commenced an underwritten public offering of $315 million of its common stock. The purpose of the offering includes: to provide additional capital...