U.S. bank regulators are boosting efforts to set up agreements for shuttering failing banks with officials in overseas hubs such as Switzerland and Japan, said Federal Deposit Insurance Corp. Chairman Martin Gruenberg.
Allowing consumers to refinance private loans with public funds is one option for alleviating the burden of college debt on the U.S. economy, the Consumer Financial Protection Bureau said in a report published today.
The Federal Reserve and Federal Deposit Insurance Corp. gave large U.S. banks an additional three months to draw up “living wills” to assist regulators in winding them down in case of a future insolvency.
The U.S. Federal Deposit Insurance Corp. will let foreign and domestic subsidiaries keep working when the agency uses its power under the Dodd-Frank Act to rebuild failing financial firms, acting chairman Martin Gruenberg said.
Big banks’ pleas for more how-to help on their plans to dismantle themselves in a failure will be answered with additional guidance from the Federal Deposit Insurance Corp., said Chairman Martin Gruenberg.
With enthusiastic endorsements from top U.S. financial regulators, a Memphis, Tennessee-based organization has signed up 250 banks in 47 states to fund a program dedicated to fighting crime in nursing homes.
U.S. banks had $141.3 billion in net income last year, the second-best on record behind the $145.2 billion total reported for 2006, on non-interest income and lower loss provisions, the Federal Deposit Insurance Corp. said.
U.S. banks had net income of $37.6 billion in the third quarter, a 6.6 percent increase over the year-earlier period as operating revenue grew the most in almost three years, the Federal Deposit Insurance Corp. said.