District Court judge Mariana Pfaelzer has approved a $500M class-action settlement between Bank of America (BAC) and pension funds related to problematic mortgage bonds sold by Countrywide from 2004-7. BofA said that following the deal, the bank will have resolved ... FULL ARTICLE AT Seeking Alpha
Filed under: Investing Have you noticed there are fewer and fewer Bank of America branches in your neighborhood? Well, its true. And the reason they are leaving is... you. Bain, a consultancy, recently found in a survey of people across ... FULL ARTICLE AT Daily Finance
Banesco USA said Friday that it has agreed to a consent order with the Federal Deposit Insurance Corp., dealing with control, staffing and administrative deficiencies in its Bank Secrecy Act program. The bank said it has already addressed many of ... FULL ARTICLE AT Miami Herald
View full sizeThe former M&F Bank building on Main Street in downtown Wilsonville remains vacant on Thursday, Dec. 5, 2013, while the municipality awaits FDIC approval for Birmingham-based SouthPoint Bank to open a new branch at the site. (Martin... FULL ARTICLE AT Everything Alabama
Alabama banks reported a combined profit of $597 million in the third quarter, up from $532 million during the same quarter in 2012, according to new data from the Federal Deposit Insurance Corp.
Profits were also up from $536 million ... FULL ARTICLE AT Birmingham Business Journal
Two trade groups for U.S. community banks say Federal Deposit Insurance Corp.'s "one-size-fits-all" policies are making the formation of new banks so difficult that only one new bank has been chartered by the FDIC since 2011.
The Independent ... FULL ARTICLE AT Nashville Business Journal
NEW YORK (TheStreet) -- The Federal Deposit Insurance Corp. says banks are growing healthier, reporting higher net income and lower debt as the year draws to a close. But the banking sector, at least in terms of individual banks, is shrinking ... FULL ARTICLE AT The Street
NEW YORK (TheStreet) -- It's almost time for the Volker Rule to be finalized, possibly forcing earth-shattering changes at the largest U.S. banks. The Federal Reserve, along with the U.S. Treasury, the Office of the Comptroller of the ... FULL ARTICLE AT The Street
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The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, up to $250,000 per depositor per bank as of January 2012. As of November 18, 2010 (2010 -11-18), the FDIC insured deposits at 7,723 institutions. The FDIC also examines and... Full Article At Wikipedia.org