Wed, May 6th, 2009
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WASHINGTON (MarketWatch) -- Lawmakers on Wednesday approved a broad housing bill that would allow the Federal Deposit Insurance Corp. to temporarily borrow as much as $500 billion from the Treasury for the agency's deposit insurance fund.
The legislation, approved by 91-5, was introduced by Senate Banking Committee Chairman Christopher Dodd, D-Conn. Read the legislation.
The bill would temporarily provide more government funds to pay depositors of failed financial institutions. The measure would increase the FDIC's borrowing authority to $500 billion until the end of 2010. The bill would also hike the agency's permanent borrowing authority from Treasury to $100 billion from $30 billion. The fees are used to pay depositors of failed institutions, as well as administrative costs at the agency.
Related stories from top sites:
US senator urges discount for retail cash payments
Apr 27th, 2009 - Reuters
WASHINGTON, May 12 (Reuters) - Democratic Senator RichardDurbin plans to introduce a measure allowing retail stores andrestaurants to offer discounts to customers who pay with cashinstead of a credit card.
Senate strikes credit card bill compromise
Apr 27th, 2009 - UPI.com
WASHINGTON, May 12 (UPI) -- Top Senate Banking Committee members reached a compromise on a bill that would protect U.S. consumers from abusive credit card industry practices.
Westsound Bank in Washington state closed: FDIC
Apr 27th, 2009 - Reuters
WASHINGTON, May 8 (Reuters) - Bank regulators closedWestsound Bank in Bremerton, Washington, on Friday, the 33rdU.S. bank to fail this year as the struggling economy andfalling home prices take their toll on financial institutions.
FDIC's Bair Questions Need for Large, Complex Financial Firms
Apr 27th, 2009 - Wall Street Journal
WASHINGTON -- The U.S. financial system should rely on smaller and less complex firms over the interconnected behemoths that helped cause the current economic strife, a top U.S...
US Sen Dodd: Hearings May Be Needed On BofA Lewis's Claims
Apr 27th, 2009 - CNNMoney
WASHINGTON -(Dow Jones)- Senate Banking Committee Chairman Christopher Dodd,D-Ct., said Monday there may be a need for Congress to investigate allegationsmade by Bank of American Corp...
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Freedom's Phoenix newsletter, September 30, 2009 AM edition
States' Quarterly Tax Revenue Plunges 17% -- Is The FDIC Killing Short Sales? -- Hallucinogenic Herb Under Legislative Eye -- Senators Ready a Bill on Greenhouse Gases -- Private Police Force Corporation takes over small town police and jail -- FDIC Discloses Deposit Insurance Fund Is Now Negative -- Senate panel rejects gov't-run insurance option(World News)
FascistNationWed, Sep 30th, 20091 Diggs, 0 CommentsHud: Summary of the new Hope for Homeowners Bill Amendment |
Here's the latest changes from the Senate on the HOPE for Homeowners bill. Highlight: It includes the FDIC and CUNA insurance extension to 2013.(Business & Finance)
IlyceGlinkTue, May 19th, 20093 Diggs, 0 CommentsFDIC is still at risk
Senator Christopher Dodd introduced a to Congress on March 5th, 2009 to increase the amount that FDIC insurance covers for your bank savings accounts. I first heard of this bill on 3:00AM on March 5th on AP, however, by 6:00AM that same day, fearing the obvious, references to this bill was stricken from almost every public media outlet.(Business & Finance)
CultStateFri, Apr 17th, 20091 Diggs, 0 Comments
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