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More bad news for savers where unemployment is high
In the category of more proof that life is not fair, it turns out that bank deposit interest rates are closely tied to state-level unemployment rates. While yields on deposits are low and trending lower all over the country, depositors in states where unemployment is lower have been enjoying higher
How to max out your clients' FDIC coverage
$250K limit can easily be bumped up to $2M; CDARS, brokered CDs gaining in popularity
House Republican budget blueprint tweaks Dodd-Frank, sets back SEC
House Republicans presented a blueprint for the fiscal 2012 budget on Tuesday that seeks to end what they see as an onerous provision of the Dodd-Frank financial reform law, dials back federal spending to a level that Securities and Exchange Commission officials say would hamstring the agency and
FDIC insurance plan could hit bankers in their wallets
Federal banking regulators moved Tuesday to seek public input on a plan to link the insurance premiums levied on U.S. banks to the degree of risk-taking encouraged by their executive pay policies.
U.S. may tie banks' FDIC fees to their exec comp policies
Federal banking regulators are considering a plan to link the insurance premiums U.S. banks must pay to the degree of risk-taking encouraged by their executive compensation policies.
Yet another bank fails
Regulators have shut down San Joaquin Bank in California, marking the 99th failure this year of a federally insured bank.
The cost of bank failures: $100B and counting
Federal regulators expect U.S. bank failures to cost the deposit insurance fund about $100 billion in the next four years and the fund to be running at a deficit Wednesday.
Bank insurance fund down 20% in 2Q
The head of the FDIC says there are no immediate plans to borrow money from the Treasury Department to shore up the shrinking deposit insurance fund.
FDIC rule change could lead to more failed banks, Bove says
Squeezed by rising bank failures and alarmed by its shrinking insurance fund, the Federal Deposit Insurance Corp. has made it easier for private-equity investors to buy failed institutions, but one prominent analyst believes that the move could lead to even more shuttered banks.
Analyst Bove: Up to 200 more banks may fail in crisis
Banking equities analyst Richard Bove said yesterday that it's possible 150 to 200 more U.S. banks could fail in the current banking crisis, putting greater stress on the Federal Deposit Insurance Corp.'s deposit insurance fund.
SEC, FDIC heads want new council to be supercop
Key regulators on today broke with the Obama administration, reaffirming their belief that some new powers to monitor big institutions against financial threats should go to an interagency council not the Federal Reserve.
GE to exit Temporary Liquidity Guarantee Program
GE Capital will stop issuing government-guaranteed short-term debt and will now be able to issue non-guaranteed long-term debt with maturities of 18 months to three years.
FDIC to charge big banks more to replenish insurance fund
Bigger banks will pay more to help restore the Federal Deposit Insurance Corp.s deposit insurance fund in the future, after the agencys board voted 4-1 today to adopt a new system of special fees that will shift more of the burden onto those banks.
Ex-FDIC chairman L. William Seidman is dead
Former chairman of the Federal Deposit Insurance Corp. L. William Seidman has died.
FDIC chief calls for systemic risk council
The head of the Federal Deposit Insurance Corp. says new powers are needed to oversee companies that pose financial risks to the economy, an authority that could be shared by the FDIC and other regulators.
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Mary Beth Franklin, InvestmentNews
Davis D. Janowski, InvestmentNews