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At the lower extreme, a critically undercapitalized Federal Deposit Insurance Corporation (FDIC)-regulated institution (i.e., one with a ratio of total capital / assets below 2%) is required to be taken into receivership by the FDIC in order to minimize long-term losses to the FDIC. [1] The motivation behind the law is to provide incentives for ...
Rodriguez v. FDIC was a United States Supreme Court case (589 U.S. ____ (2020)) in which the court held that the Bob Richards rule was not appropriately crafted and federal judges should not apply it when resolving disputes about tax allocations to members of an affiliated group filing a consolidated return.
Deposit losses that occur in the course of the bank's business, such as theft, fraud or accounting errors, must be addressed through the bank or state or federal law. Deposit insurance also does not cover the failure of non-bank entities that use a bank to offer financial services, e.g. fintech financial technology companies. If the company ...
In a unanimous decision, the Georgia Supreme Court has rejected an appeal by the Georgia Republican Party to reinstate seven last-minute rules passed by Georgia’s State Election Board ahead of ...
The FDIC did not respond to a request for comment on Thursday afternoon, but told the Journal it took the matter very seriously and that an outside law firm would conduct an internal review.
NEW YORK (AP) — Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation, will step down from his post once a successor is appointed, the White House said Monday.
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s. It established the Resolution Trust Corporation to close hundreds of insolvent thrifts and provided funds to pay out insurance to their depositors.
The chair of the FDIC told a Senate committee Tuesday that he was 'personally disturbed' by a report of sexual harassment and a toxic culture at the regulatory agency.