As recently as this past Monday, commentators
were grumbling that the FDIC is moving too slowly in pursue claims against
former directors and officers of failed banks. The FDIC has responded in
dramatic fashion with a March 16, 2011 lawsuit filing in the Western District
of Washington against three...
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, on the other hand, over
Guaranty Bank of Austin, Texas's August 21,
2009 closure is the fourth-largest bank failure during the current wave of
bank failures and the tenth largest bank failure in U.S. history. The
bank's failure, which came just 15 months after its publicly traded
holding company spun out of Temple...
Whether the process is just winding down for the year or
the process is actually winding down for good, the bank closure rate has
recently fallen off dramatically. The FDIC has not taken over any banks for
three weeks straight, with no bank closure at all so far during the month of
According to the FDIC’s latest Quarterly Banking Profile ( here ), as of September 30, 2013, there were 6,891 federally insured banking institutions, down from 6,940 at the end of the second quarter and down from 7,141 as of September 30, 2012. There were 8,680 banking institutions as recently...