LexisNexis® Legal Newsroom
A Failed Bank, A Lawsuit, and Some Interesting Questions

Though 268 banks have failed since January 1, 2008, there has been relatively little litigation related to the failed banks, as least so far. For example, the FDIC only recently filed its first action against former directors and officers of a failed bank (as discussed here ). There have also been...

UBS Will Take No Action Against Former Company Officials and Other Web Notes

In a public report that makes for some interesting reading, UBS on October 14, 2010 released a statement disclosing that though its own investigation had concluded that "what happened should not have been allowed to happen," the company will take no legal action against its former directors...

Commercial Banks: Closures, Lawsuits Continue to Mount

As has now become a familiar routine, this past Friday night the FDIC took control of several more commercial banks . The seven additional banks seized on Friday bring the year to date total number of failed banks to 139, and the total since January 1, 2008 to 304. At the same time, lawsuits involving...

Big 4 Bombshell: “We Didn’t Fail Banks Because They Were Getting A Bailout”

Leaders of the four largest global accounting firms - Ian Powell , chairman of PwC UK, John Connolly , Senior Partner and Chief Executive of Deloitte's UK firm and Global MD of its international firm, John Griffith-Jones , Chairman of KPMG's Europe, Middle East and Africa region and Chairman...

Stories We're Following: Failed Banks, China and More

The short week after the July 4 th holiday is usually quiet. There certainly did seem to be less traffic on the roads. But nevertheless, there was news of note this past week on several stories we have been following, as discussed below. The traffic on the roads may have slowed but the circulation...

FDIC: Banks Improve, Problem Institutions Continue to Decline

According to the FDIC's Quarterly Banking Profile for the first quarter of 2012, which can be found here and which was released on May 24, 2012, the banking industry generally continues to show improvement. The industry's aggregate profits are up, and the industry is shedding bad loans, bolstering...