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, ...Read More
Florida banking regulators on Friday shut down Commerce Bank of Southwest Florida, marking the 124th U.S. bank to succumb this year to the struggling economy and rising loan defaults. The Federal Deposit Insurance Corp. took over the small bank in Fort ...Read More
Regulators shut Fort Myers bank Florida banking regulators have shut down Commerce Bank of Southwest Florida, marking the 124th U.S. bank to succumb this year to the struggling economy and rising loan defaults. The Federal Deposit Insurance Corp. took over the ...Read More
Banking regulators seized Commerce Bank of Southwest Florida and sold the tiny Fort Myers bank to Central Bank, of Stillwater, Minn., marking the 124th U.S. bank to fail during 2009 and the 12th in Florida. The sole branch of Commerce Bank ...Read More
WASHINGTON -- The Federal Reserve's strategy to fend off a barrage of attacks from Congress, largely centered on low-key diplomacy by Chairman Ben Bernanke, isn't succeeding so far.
Many Democrats and Republicans praise Mr. Bernanke for candor and accessibility. But some ...Read More
WASHINGTON -- Florida banking regulators on Friday shut down Commerce Bank of Southwest Florida, marking the 124th U.S. bank to succumb this year to the struggling economy and rising loan defaults. The Federal Deposit Insurance Corp. took over the small bank ...Read More
WASHINGTON (Reuters) - The tally of U.S. bank failures reached 124 so far this year as regulators seized a small Florida bank on Friday. The Federal Deposit Insurance Corp said Commerce Bank of Southwest Florida, based in Fort Myers, Florida, was ...Read More
Federal Reserve Chairman Ben Bernanke's nomination to a second term will be the subject of a Senate Banking Committee hearing next month, the panel's chairman said Friday. President Barack Obama nominated Bernanke to another four-year term in August. The nomination requires ...Read More
Just six weeks after he told Reuters it was essentially a done deal, Senate Banking Committee Chairman Christopher Dodd punted when asked about the likelihood of Federal Reserve Chairman Ben Bernanke's confirmation for a second term.
Asked by a citizen journalist ...Read More
Any illusion that legislation to overhaul the nation's financial regulatory system would move through the Senate quickly and easily vanished Thursday morning inside the Russell Senate Office Building. Sen. Christopher J. Dodd (D-Conn.), chairman of the Senate Banking Committee, chose the ...Read More
Treasury Secretary Timothy Geithner is pushing Congress to move quickly in overhauling the nation's badly flawed financial rules, which he says is essential for the health of the economy. Both the House and Senate are making progress toward revamping the current ...Read More
WASHINGTON -- Congress must move quickly to create a "safer, more stable financial system," Treasury Secretary Timothy Geithner said Thursday, as lawmakers on both sides of Capitol Hill pressed forward with legislative efforts.
"To ensure the vitality, the strength and the ...Read More
(Update with context, more remarks from Shelby in last three paragraphs) WASHINGTON (Dow Jones)--The top Republican on the Senate Banking Committee sharply criticized Senate legislation to rewrite financial-industry rules, saying lawmakers had failed to do the legwork needed to consider such ...Read More
NEW YORK (Reuters) - Breaking up the biggest U.S. banks is not a practical solution to addressing the "too big to fail" problem, Merrill Lynch's former chief executive, John Thain, said on Tuesday.
Thain said he favors creating a federal fund ...Read More
WASHINGTON, Nov 17 (Reuters) - U.S. Senate Republicanleader Mitch McConnell said on Tuesday that a Democratic billto revamp regulation of the financial industry must be revisedto win support from his side of the political aisle. "It's a long way from being ...Read More
WASHINGTON -- Senate Banking Committee Chairman Christopher Dodd's sweeping new financial overhaul legislation, which proposes to strip the Federal Reserve of its authority to regulate banks, threatens the central bank's time-honored independence and its premier international standing, experts warn. Critics counter, ...Read More
Regulators shut down two banks in Florida and one in California on Friday, boosting to 123 the number of U.S. bank failures this year as loan defaults rise in the worst financial climate in decades. The Federal Deposit Insurance Corp. took ...Read More
NEW YORK (AP) - Regulators shut down two banks in Florida and one in California on Friday, boosting to 123 the number of U.S. bank failures this year as loan defaults rise in the worst financial climate in decades. The Federal ...Read More
NEW YORK—Regulators shut down two banks in Florida and one in California on Friday, boosting to 123 the number of U.S. bank failures this year as loan defaults rise in the worst financial climate in decades. The Federal Deposit Insurance Corp. ...Read More
