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...
In the FDIC's latest lawsuit filed in its role as
receiver of a failed bank, the FDIC not only named as defendants nineteen
former directors and officers of the failed bank, but also included as
defendants seventeen of their spouses and the failed...
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...
Since the early stages of the financial crisis, nearly 500 banks have failed across the U.S., and even though we are now well past the peak of the financial crisis, banks continue to fail. Yet during the same time as scores of banks were failing, many...
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...
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...
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...
Federal prosecutors have come in for considerable criticism over their failure to press criminal charges against executives of financial institutions whose stumbles led to the global financial crisis. As Southern District of New York Judge Jed Rakoff...
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...
The commercial banking industry is continuing its rebound from the subprime meltdown and the global financial crisis. According to the FDIC’s latest Quarterly Banking Profile for the period ending December 31, 2014 ( here ), the industry’s...
On August 22, 2011, when the FDIC filed a lawsuit
related to the collapse of Silverton Bank, which is Georgia's largest failed
bank, the named defendants included not only bank officers that the regulators
allege are responsible for the bank's...
One of the most contentious issues in the litigation the FDIC has been pursuing in its capacity as receiver of various failed banks is whether the defendant former directors and officers can assert affirmative defenses against the FDIC for the agency’s...
A federal court has denied the motion of the accountants of the failed Colonial Bank’s holding company to dismiss the claims the FDIC, in its capacity as the failed bank’s receiver, had filed against them. As discussed here , the FDIC’s...
Even as the number of bank failures now appears to be
winding down, the FDIC's failed bank litigation filings seem to just be ramping
up. With now 21 lawsuits filed as part of the current wave of bank failures, it
may be possible to try to make...
As detailed in the accompanying
blog post , all signs are that the FDIC will be filing increasing numbers of
civil actions against former officials of banks that have been closed as part
of the current round of bank failures. With this possibility in...