The data issued Tuesday by the Federal Deposit Insurance Corp. showed that the banking industry continues to recover from the financial crisis that struck six years ago. Banks and other financial institutions insured by the FDIC earned $38.7 billion in the third quarter, up from $36.1 billion a year ago. "The banking industry had another positive quarter," FDIC...
Goldman Sachs has fired an investment banker who allegedly accessed confidential information from the Federal Reserve Bank of New York, his former employer. The FT reports.
The fees associated with prepaid cards have drawn scrutiny from the Consumer Financial Protection Bureau. The federal regulator on Thursday proposed expanded protections for these increasingly popular "reloadable" cards now used by some 2 million U.S. households as an alternative to traditional banks, according to the Federal Deposit Insurance Corp..
WASHINGTON, Oct 21- The U.S. Federal Deposit Insurance Corp unveiled a final rule on Tuesday that requires banks to retain at least 5 percent of the risk on their books when they bundle loans, securitize them and sell them to investors. The rule, expected to be adopted by the FDIC later on Tuesday, aims to prevent a repeat of the 2007-2009 financial crisis, when banks'...
WASHINGTON, Oct 15- The U.S. The Fed said it will meet on Oct. 22 to adopt the final version of the credit risk retention rule, a requirement of the 2010 Dodd-Frank law to reform Wall Street. The rule must also be adopted by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the Department of...
Simon Johnson, economist and professor at Massachusetts Institute of Technology told a panel held on Sunday by the International Monetary Fund. "Where are the documents mandated by Congress that are supposed to show how we will handle the failure of a large global complex interconnected bank? In August the Federal Reserve and Federal Deposit Insurance Corp....
WASHINGTON, Sept 3- The U.S. Federal Reserve on Wednesday voted to adopt final rules requiring big banks to hold more assets that they could sell easily in a credit crunch. The Federal Deposit Insurance Corp also plans to vote on the final rules on Wednesday.
The lawsuit, filed against the Federal Reserve, the Federal Deposit Insurance Corp and the Office of the Comptroller of the Currency, comes days after U.S. prosecutors opened criminal and civil probes into at least 15 banks and payment processors as part of a wide-ranging consumer fraud investigation.
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.