Banking and Finance

Recent Posts

Market Risk Capital Rules: Creditworthiness Standards to Replace Credit Ratings
Posted on 23 Jan 2012 by Morrison and Foerster LLP

On December 21, 2011 the Office of the Comptroller of the Currency ("OCC"), Board of Governors of the Federal Reserve System ("Board"), and Federal Deposit Insurance Corporation ("FDIC") (collectively, the "agencies"... Read More

FDIC Sues Former Officers of Failed California Bank
Posted on 31 Jan 2012 by Kevin M. LaCroix

In its latest failed bank lawsuit, the FDIC, in its capacity as receiver of the failed County Bank of Merced, California, has filed a complaint against five former officer of the bank. The FDIC's complaint was filed in the United States District... Read More

FDIC: Problem Institutions Decline, But Concerns Remain
Posted on 1 Mar 2012 by Kevin M. LaCroix

The FDIC's latest Quarterly Banking Profile for the period ending December 31, 2011, released February 28, 2012 ( here ), reflects a generally improving banking landscape and a continuing reduction in the number of problem institutions. But though... Read More

Number of Bank Failures Finally Starting to Decline?
Posted on 7 Apr 2011 by Kevin M. LaCroix

When the FDIC released its Quarterly Banking Profile for the fourth quarter 2010, it included a statement from FDIC Chairman Sheila Bair that the agency believes "the number of failures peaked in 2010." However, at least through the end of... Read More

FDIC Issues Final Safe Harbor Rule
Posted on 4 Oct 2011 by Morrison and Foerster LLP

by Calvin Z. Cheng, Melissa D. Beck, Kenneth E. Kohler and Jerry R. Marlatt Recent weeks have seen a number of legal, regulatory and political developments in the realm of asset securitization, culminating for the moment on September 27 with the issuance... Read More

Former FDIC Counsel Ronald Glancz of Venable LLP Speaking on the “FDIC & New Banking Crisis”
Posted on 24 Feb 2009 by Corporate and Securities Law Community Staff

Ronald Glancz of Venable LLP talks about the kinds of claims has seen filed against banks and their directors. Videocast provided by HB Litigation Conferences. Find out more by about HB Litigation Conferences and their video and audio packages by going... Read More

Tags: FDIC

FDIC Lawsuits: Coming Soon to Failed Banks Near You?
Posted on 11 Oct 2010 by Kevin M. LaCroix

The FDIC has authorized more than 50 lawsuits against former directors and officers of failed banks, according to an October 8, 2010 Bloomberg article . But merely because the lawsuits have been authorized does not necessarily mean we will see 50 lawsuits... Read More

Under Scrutiny, FDIC Posts (Some) Failed Bank Suit Settlements Online
Posted on 20 Mar 2013 by Kevin M. LaCroix

Possibly as a result of a barrage of recent press criticism for its nonpublic settlements, the FDIC has launched a page on its website to publish details regarding the settlements it has reached in failed bank claims. The page, which can be found here... Read More

As Banks Fail, Will Insurance Coverage Lawsuits Follow?
Posted on 4 Aug 2011 by Kevin M. LaCroix

One of the many distinctive traits of the litigation that surrounded the S&L crisis in the late 80s and early 90s was the plethora of lawsuits between the FDIC (and other federal banking regulators), on the one hand, and the failed banks' insurers... Read More

The Latest FDIC Failed Bank Lawsuit
Posted on 9 Jan 2012 by Kevin M. LaCroix

On December 29, 2011, in what appears to have been the final year-end step as the FDIC ramped up its failed bank litigation activity during 2011, the FDIC filed a civil lawsuit in the Western District of North Carolina in is capacity as receiver of The... Read More

FDIC Lawsuits v. Bank Directors and Officers–FDIC Standard of Care Issues
Posted on 14 Jul 2011 by Dave Tate

The FDIC has been one of the more active regulatory agencies in the arena of director and officer liability. And the recent and ongoing banking crisis has given the FDIC the opportunity to not only pursue actions against directors and officers, but... Read More

FDIC: Banking Sector Improves, Problem Banks Persist
Posted on 30 May 2013 by Kevin M. LaCroix

The improvement in the banking sector continued in the first quarter of 2013, according to the FDIC's Quarterly Banking Profile for the first quarter of 2013, which the agency released on May 29, 2013. A copy of the Quarterly Banking Profile can... Read More

FDIC's Latest Failed Bank Litigation Update Reflects Increasing Lawsuit Filings
Posted on 23 May 2013 by LexisNexis Communities Staff

According to the latest update on the FDIC's website, the pace of the agency's filing of failed bank lawsuits picked up considerably in the last month. According to the agency's website ( here ), which the agency updated on May 22, 2013... Read More

Is the FDIC Ramping Up Its Failed Bank Litigation?
Posted on 8 Mar 2012 by Kevin M. LaCroix

Though the current bank failure wave has been rolling for several years now and though there have been over 425 bank closures during that period , the much anticipated FDIC failed bank litigation has been slower to gain momentum - that is, perhaps... Read More

FDIC's Latest Failed Bank Lawsuit Targets Bank's Lawyers
Posted on 28 Oct 2011 by Kevin M. LaCroix

On October 25, 2011, the FDIC filed its latest failed bank lawsuit, in connection with events surrounding the July 2009 failure of Mutual Bank of Harvey, IL . The FDIC's complaint , which was filed in the Northern District of Illinois, names as... Read More