Jan 9- The U.S. Federal Deposit Insurance Corporation sued Bank of America Corp over $542 million in deposit insurance which it says the second-largest U.S. bank "refuses to pay," according to a complaint filed Monday in a U.S. district court.
WASHINGTON, Jan 9- The U.S. Supreme Court on Monday declined to hear a bid by banks to avoid a Federal Deposit Insurance Corp lawsuit over the 2009 collapse of Alabama's Colonial BancGroup Inc.. The justices left in place a May 2016 ruling by the New York- based 2nd U.S. Circuit Court of Appeals that found that the FDIC did not wait too long to sue Credit Suisse Group AG,...
According to Reuters, the FBI is probing a FDIC hack that began in 2010; breach is believed to have been sponsored by China's military. CNBC's Eamon Javers reports.
WASHINGTON, Dec 23- The FBI is investigating how hackers infiltrated computers at the Federal Deposit Insurance Corporation for several years beginning in 2010 in a breach senior FDIC officials believe was sponsored by China's military, people with knowledge of the matter said. Reuters was not able to review those records, and could not determine how long the...
EXCLUSIVE- FBI HAS ONGOING INVESTIGATION INTO MULTI-YEAR HACK OF FEDERAL DEPOSIT INSURANCE CORPORATION; HACK STARTED IN 2010- SOURCES.
Wells Fargo was one of five banks to fail an initial assessment in April. On Tuesday, regulators determined that Wells Fargo's living wills fell short and that the San Francisco- based bank would be sanctioned, the Federal Deposit Insurance Corporation said in a statement. Wells Fargo may submit an amended living will by March 31 and regulators may lift...
WASHINGTON, Nov 29- U.S. banks' net income increased 12.9 percent, up $5.2 billion, in the third quarter as the number of struggling lenders fell, the Federal Deposit Insurance Corp said on Tuesday. The FDIC said the share of unprofitable banks, 4.6 percent, was the lowest since the third quarter of 1997.. The Federal Reserve has kept interest rates low since the 2008...
WASHINGTON, Nov 9- Global banking regulators would make a grave mistake if they eased capital rules for the world's largest lenders, a senior U.S. banking official said on Wednesday. Tom Hoenig, the vice chairman of the Federal Deposit Insurance Corporation, said higher capital levels may be needed to protect banks from a repeat of turmoil like that seen during...
WASHINGTON, Oct 4- Leading U.S. banks on Tuesday submitted updated "living wills" to regulators who must decide whether Wall Street firms can be unwound without taxpayer help or should be broken up. Eight of the largest banks handed in paperwork on how they would be dissolved in a crisis to the Federal Reserve and Federal Deposit Insurance Corp before those...
Wells Fargo has not done enough to address the problems brought to light in its $190 million settlement over secret accounts, Sheila Bair tells CNBC.
Sheila Bair, Washington College president and former FDIC Chair, joins Rick Santelli to discuss America's student loan crisis and the potential solutions.
The largest banks are reportedly increasing the amount of overdraft fees they collect from their customers.
In an exclusive interview for CNBC Pro subscribers, former FDIC Chair Sheila Bair dishes on the election, big banks and Bernie Sanders.
Bank holding companies with consolidated assets of $50 billion or more are required to submit living wills to regulators.
CNBC's Rick Santelli discusses deficiencies in banks' living wills and corporate tax inversions with Sheila Bair, Former chair of the FDIC and Washington College President.
Stephen Sheinbaum, BizFi founder, discusses alternative lending for small business loans.
A review by key banking regulators raises red flags about risks in the nation's lending system, noting that credit risk in the U.S. remains high.
As the system keeps getting bigger, so does the amount for which taxpayers, in an extreme case, would be exposed should things go haywire again.
More than seven years after the global financial collapse, banks have paid more than $150 billion in fines and other penalties.
How do you improve the culture of Wall Street? Personally punish the industry's bad apples, according to two longtime observers.