Bank of America Corp.’s lawsuit against the Federal Deposit Insurance Corp. against the Federal Deposit Insurance Corp. for $1.7 billion in client losses was revived after the agency said that a bank at the center of the Taylor Bean scandal may have have enough assets to pay the claims.
U.S. regulators seeking to stem loosening underwriting standards in the market for junk loans are giving banks flexibility when they restructure existing loans that lessen their own risk, according to a person with knowledge of the guidance.
The Community Financial Services Association of America, the main payday lending trade group, sued U.S. banking regulators, accusing them of applying “back room pressure” on banks to stop serving the group’s members.
Skadden Arps Slate Meagher & Flom LLP and Torys LLP advised Endo Health Solutions Inc. on its agreement to buy Canadian drugmaker Paladin Labs Inc. for about $1.6 billion to expand in that country and emerging markets.
The Department of Justice and the Federal Deposit Insurance Corp. are pressuring banks to cut ties to online lenders whom regulators suspect of shady business practices, as part of a broad crackdown on frauds in the payment system, according to five people briefed on their work.
What were banking regulators doing while some of the biggest U.S. lenders routinely filed false foreclosure documents in local courthouses around the country? In the case of IndyMac Federal Bank , it turns out the Federal Deposit Insurance Corp. was running the joint.
U.S. banks are seeking to shield from scrutiny the $30 billion they collect annually in checking- account fees, saying a proposed requirement for periodic reports is unacceptable even if it exempts small institutions.