The data issued Wednesday by the Federal Deposit Insurance Corp. showed "gradual but steady improvement" for the banking industry, FDIC Chairman Martin Gruenberg said at a news conference. The FDIC reported that U.S. banks earned $39.8 billion in the first quarter, up from $37.2 billion a year earlier. The number of banks on the FDIC's confidential "problem list"...
May 6- Sheila Bair, an outspoken critic of Wall Street during her time as chairman of the Federal Deposit Insurance Corp, has been named president of a liberal arts college near Baltimore. Appointed to lead the FDIC by President George W. Bush in 2006, Bair was one of the first officials to warn about a subprime mortgage crisis but clashed often with those who were...
WASHINGTON, April 21- The largest U.S. and foreign banks would need to keep track of deposits better under a plan launched by the Federal Deposit Insurance Corporation on Tuesday, as many lenders have grown and become more complex. It said the FDIC "has often found inconsistent and missing data" in the current records, which the banks need to provide because of an...
WASHINGTON, March 2- Regulators shouldn't weaken a rule that limits banks' borrowing, a senior U.S. bank supervisor said on Monday, indicating a possible split with the derivatives watchdog over the issue. Tom Hoenig, second-in-command at the Federal Deposit Insurance Corp, said he disagreed with the head of the Commodity Futures Trading Commission who has...
WASHINGTON, Feb 27- The U.S. Federal Deposit Insurance Corporation said on Friday Puerto Rico-based bank Doral Financial Corp was closed, and its business taken over by Banco Popular de Puerto Rico.
NEW YORK, Feb 27- Shares of San-Juan, Puerto Rico- based lender Doral Financial Corp plunged 46.3 percent and were then halted on Friday, following a U.S. Federal Deposit Insurance Corp recall of a press release announcing that the bank was closed. The FDIC said the press release, announcing that it had been appointed as receiver to the bank, had been sent in error.
CNBC's Mary Thompson reports Bank of America, Citi Group, and JPMorgan Chase are among 16 big banks being sued by FDIC for manipulating the LIBOR benchmark interest rate.
Despite downgrades and fiscal woes, now could be the time for investors to get in on Puerto Rico, says YPO member Francisco De Armas.
A provision prohibiting banks from keeping investments in CDOs backed by hybrid securities called trust preferreds ignited a controversy.
CNBC's Eamon Javers breaks down the 5 key exemptions of the Volcker Rule, including underwriting and risk mitigated hedging.
Discussing the Volcker Rule and the improvements made to make the legislation stronger, with CNBC's Rick Santelli and Sheila Bair, former chair of the FDIC.
CNBC's Eamon Javers details the five key exemptions under the Volcker Rule. Regulators from the FDIC and Federal Reserve are expected to vote to approve the legislation which would ban banks from proprietary trading.
The President is nominating top Treasury Department official Timothy Massad as head of CFTC, the agency that regulates the futures and options market.
Bank lending is on the rise. The little guy on Main Street is not feeling it, though, so many entrepreneurs are turning to alternative funding sources.
CNBC's Hampton Pearson has the latest numbers on bank earnings.
The big banks should not be allowed to dip into FDIC-insured deposits to engage in risky trading activities, Sen. Elizabeth Warren, D-Mass., said on CNBC Friday, as she pushed for a new, modern-day bank breakup bill.
The FDIC, OCC and the Fed jointly proposed new rules on bank borrowing that could hamper lending. The new rules will make the biggest banks fund 5 percent of their assets.
Dick Bove, Rafferty Capital analyst, explains why the new banking regulation is a "turf war" between the Fed, which believes in the Basel III approach to capital, and the FDIC.
The FDIC on Tuesday will propose a leverage rule requiring big banks to have common equity equal to at least 5 percent of their assets, sources tell CNBC.
The FDIC's stricter leverage rules will be announced on Tuesday, reports CNBC's Kate Kelly. The FDIC is expected to raise the key leverage ratio for banks to 5 percent from 3 percent.