Causes and Consequences of Recent Bank Failures
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Community Reinvestment Act Regulations
DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency 12 CFR Parts 25 and 195 [Docket ID OCC-2021-0014] RIN 1557–AF12 Community Reinvestment Act Regulations AGENCY: Office of the Comptroller of the Currency, Treasury. ACTION: Notice of proposed rulemaking. SUMMARY: The Comptroller of the Currency proposes to replace the current Community Reinvestment Act rule with rules based on the 1995 Community Reinvestment Act (CRA) rules, as revised, issued by the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and Federal Deposit Insurance Corporation (FDIC). The proposal would replace the existing rule in 12 CFR part 25 and reinstate 12 CFR part 195 (for savings associations). Such action would effectively rescind the CRA final rule published by the Office of the Comptroller of the Currency on June 5, 2020, and facilitate the issuance of joint CRA rules with the Board and FDIC. DATES: Comments must be received on or before October 29, 2021. ADDRESSES: Commenters are encouraged to submit comments through the Federal eRulemaking Portal. Please use the title “Community Reinvestment Act Regulations” to facilitate the organization and distribution of the comments. You may submit comments by any of the following methods: 1 Federal eRulemaking Portal – Regulations.gov: Go to https://regulations.gov/. Enter “Docket ID OCC-2021-0014” in the Search Box and click “Search.” Public comments can be submitted via the “Comment” box below the displayed document information or by clicking on the document title and then clicking the “Comment” box on the top-left side of the screen. -
Immaculate Defamation: the Case of the Alton Telegraph
Texas A&M Law Review Volume 1 Issue 3 2014 Immaculate Defamation: The Case of the Alton Telegraph Alan M. Weinberger Follow this and additional works at: https://scholarship.law.tamu.edu/lawreview Part of the Law Commons Recommended Citation Alan M. Weinberger, Immaculate Defamation: The Case of the Alton Telegraph, 1 Tex. A&M L. Rev. 583 (2014). Available at: https://doi.org/10.37419/LR.V1.I3.4 This Article is brought to you for free and open access by Texas A&M Law Scholarship. It has been accepted for inclusion in Texas A&M Law Review by an authorized editor of Texas A&M Law Scholarship. For more information, please contact [email protected]. IMMACULATE DEFAMATION: THE CASE OF THE ALTON TELEGRAPH By: Alan M. Weinberger* ABSTRACT At the confluence of three major rivers, Madison County, Illinois, was also the intersection of the nation’s struggle for a free press and the right of access to appellate review in the historic case of the Alton Telegraph. The newspaper, which helps perpetuate the memory of Elijah Lovejoy, the first martyr to the cause of a free press, found itself on the losing side of the largest judgment for defamation in U.S. history as a result of a story that was never published in the paper—a case of immaculate defamation. Because it could not afford to post an appeal bond of that magnitude, one of the oldest family-owned newspapers in the country was forced to file for bankruptcy to protect its viability as a going concern. -
Limited Liability Company Operating Agreement INDYMAC
Execution Copy LIMITED LIABILITY COMPANY OPERATING AGREEMENT INDYMAC VENTURE, LLC 10069513v15 TABLE OF CONTENTS Page ARTICLE I CERTAIN DEFINITIONS ..........................................................................................1 Section 1.01 Definitions ..................................................................................................1 ARTICLE II ORGANIZATION OF THE COMPANY..................................................................2 Section 2.01 Formation....................................................................................................2 Section 2.02 Name...........................................................................................................2 Section 2.03 Organizational Contributions and Actions; Initial Transfer .......................2 Section 2.04 Registered Office; Chief Executive Office.................................................2 Section 2.05 Purpose; Duration.......................................................................................3 Section 2.06 Single Purpose Limitations.........................................................................3 Section 2.07 Limitations on the Company’s Activities ...................................................3 ARTICLE III MANAGEMENT AND OPERATIONS OF THE COMPANY ..............................5 Section 3.01 Management of the Company’s Affairs .....................................................5 Section 3.02 Employees and Services .............................................................................7 -
Chairman Bair Et Al., the Adages “Between a Rock and a Hard Place
From: John P. McBride [mailto:[email protected]] Sent: Thursday, March 05, 2009 12:45 PM To: Comments Subject: RIN 3064-AD35 Chairman Bair et al., The adages “between a rock and a hard place”, “damned if you do, damned if you don’t” seem pretty appropriate to the condition we find ourselves facing in the banking world today. But it is always difficult to find an equitable solution and possibly the “right” solution when the “easy” solution, in this case, is to charge all the banks equally and substantially. After all, its our insurance fund as the FDIC has stated in its release. And I believe most, if not all community bankers would support a risk‐based assessment to the fund. In other words, those that caused this disaster pay more than the thousands of community banks who didn’t take part in the uncontrolled rush to increase earnings, shareholders returns, and expand their presence… In your words, the “systemically important institutions”. I assume you’re speaking of IndyMac, Citigroup, Bank of America etc.. I’m not going to talk about the negative impact at the worst possible time that this assessment will have on our banks earnings. I suspect you will hear that by the thousands as you know already. The insurance fund to provide depositors with a safe haven, which is a pillar of confidence in the banking system, seems to me to be based on two rather important assumptions: 1) There is enough money in the fund to pay those depositors whose money is insured up to the specified limits and 2) There are regulatory experts who are analyzing those institutions who might cause inordinate risk to the fund to protect the depositor and the fund balances. -
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Wo in the United States District Court for the Distri
Case 4:13-cv-00589-CKJ Document 54 Filed 09/03/14 Page 1 of 17 1 WO 2 3 4 5 6 IN THE UNITED STATES DISTRICT COURT 7 FOR THE DISTRICT OF ARIZONA 8 9 Maria Laura Martinez, No. CV-13-00589-TUC-CKJ 10 Plaintiff, ORDER 11 v. 12 Cenlar FSB, 13 Defendant. 14 15 Pending before the Court are two Motions. On March 3, 2014, Defendant filed a 16 Motion for Judgment on the Pleadings. (Doc. 35). Then, on March 14, 2014, Plaintiff 17 filed a Motion for Leave to Amend Complaint. (Doc. 39). 18 The Court reviewed the parties’ pleadings and heard oral argument on August 25, 19 2014. The Court will grant the Motion for Judgment on the Pleadings in part and deny it 20 in part and will grant the Motion for Leave to Amend the Complaint. 21 I. Background1 22 A. Facts 23 Plaintiff purchased a house in Tucson, Arizona on March 7, 2008. (Doc. 11 at ¶7). 24 In the spring of 2010, Plaintiff lost her job and began experiencing financial difficulties. 25 (Id. at ¶8). On August 9, 2010, Plaintiff received a Notice of Trustee Sale. Id. at ¶9. 26 After negotiating with her lender, MeriWest Credit Union, the Trustee Sale was cancelled 27 and her mortgage payments were temporarily reduced. Id. However, one year later in 28 1 Unless otherwise noted, the facts come from the Plaintiff's Complaint. Case 4:13-cv-00589-CKJ Document 54 Filed 09/03/14 Page 2 of 17 1 August 2011, the temporary modification of her mortgage payments expired and her 2 payment was increased. -
A Short History of Financial Deregulation in the United States I
A Short History of Financial Deregulation in the United States Matthew Sherman July 2009 Center for Economic and Policy Research 1611 Connecticut Avenue, NW, Suite 400 Washington, D.C. 20009 202-293-5380 www.cepr.net CEPR A Short History of Financial Deregulation in the United States i Contents Timeline of Key Events....................................................................................................................................1 Introduction........................................................................................................................................................3 Background.........................................................................................................................................................3 Usury Laws .........................................................................................................................................................5 Removing Interest Rate Ceilings .....................................................................................................................6 Repealing Glass-Steagall....................................................................................................................................8 Hands-Off Regulation.....................................................................................................................................10 Inflating the Bubble.........................................................................................................................................12 -
Tiff, Plain Et Al., Defendant
Case 1:09-cv-00190-OWW -GSA Document 14 Filed 06/26/09 Page 1 of 3 1 2 3 4 UNITED STATES DISTRICT COURT 5 FOR THE EASTERN DISTRICT OF CALIFORNIA 6 7 1:09-CV-00190 OWW GSA 8 GILBERTO RAMOS, Plaintiff, ORDER CORRECTING FILING TIME OF 9 ORDER RE MOTION TO SUBSTITUTE v. FEDERAL DEPOSIT INSURANCE 10 CORPORATION, AS RECEIVER FOR NDEX WEST, LLC, et al., INDYMAC BANK, F.S.B., AND AS 11 CONSERVATOR FOR INDYMAC FEDERAL 12 Defendant. BANK, FSB, IN THE PLACE OF NAMED DEFENDANT INDYMAC FEDERAL BANK, 13 FSB (DOCS. 3 & 9) 14 Before the court for decision is the Federal Deposit 15 Insurance Corporation’s (“FDIC”) motion to substi tute itself for 16 named defendant IndyMac Federal Bank, FSB. Docs. 3 & 9. At the 17 time the complaint in this case was filed, Plaintiff was 18 represented by Marjan Alitalaei of the law firm of M.W. Roth, 19 PLC. That law firm has ceased operations and the California 20 Superior Court for the County of Los Angeles has assumed 21 jurisdiction over the practice. See Doc. 6. Defendant was 22 instructed to, and did, serve a copy of this motion, along with a 23 notice of the scheduled hearing on June 1, 2009, on Plaintiff via 24 U.S. Mail at Plaintiff’s last known address, 13015 Monarch Palm 25 Avenue, Bakersfield, California, 93314. Doc. 9 (proof of 26 service). Plaintiff has filed no opposition. 27 On July 11, 2008, the Office of Thrift Supervision (“OTS”) 28 1 Case 1:09-cv-00190-OWW -GSA Document 14 Filed 06/26/09 Page 2 of 3 1 closed IndyMac Bank, F.S.B., and appointed an FDIC Receiver as 2 the r eceiver for the failed institution pursuant to 12 U.S.C. -
Kyung Cho, Et Al. V. UCBH Holdings, Inc., Et Al. 09-CV-04208
Case3:09-cv-04208-JSW Document217 Filed01/09/12 Page1 of 81 1 Laurence M. Rosen, Esq. (CSB# 219683) THE ROSEN LAW FIRM, P.A. 2 355 South Grand Avenue, Suite 2450 Los Angeles, CA 90071 3 Tel: (213) 785-2610 Fax: (213) 226-4684 4 Email: [email protected] 5 -and- 6 Phillip Kim, Esq. (pro hac vice) THE ROSEN LAW FIRM, P.A. 7 275 Madison Avenue, 34th Floor New York, New York 10016 8 Telephone: (212) 686-1060 Facsimile: (212) 202-3827 9 Email: [email protected] 10 Lead Counsel for Plaintiffs and Class 11 IN THE UNITED STATES DISTRICT COURT 12 NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION 13 14 Case No.: CV-09-4208-JSW KYUNG CHO; REX DECHAKUL; AND CV-09-4429-JSW 15 CV-09-4449-JSW DAVID HWANG, INDIVIDUALLY AND CV-09-4513-JSW 16 ON BEHALF OF ALL OTHERS CV-09-4505-JSW SIMILARLY SITUATED, 17 CONSOLIDATED THIRD AMENDED Plaintiffs, COMPLAINT FOR VIOLATIONS OF 18 THE FEDERAL SECURITIES LAWS vs. 19 CLASS ACTION 20 UCBH HOLDINGS, INC.; THOMAS S. WU; THOMAS YU; EBRAHIM SHABUDIN; JURY TRIAL DEMANDED 21 CRAIG ON; DENNIS WU; ROBERT Hon. Jeffrey S. White 22 NAGEL; JOHN M. KERR; DANIEL M. GAUTSCH; DOUGLAS MITCHELL; 23 BURTON D. THOMPSON; JOHN CINDEREY; JOSEPH J. JOU; PIN PIN 24 CHAU; LI-LIN KO; QINGYUAN WAN; 25 GODWIN WONG; DAVID NG; DANIEL P. RILEY; RICHARD LI-CHUNG WANG; and 26 JOHN DOES 1-10, 27 Defendants. 28 1 CONSOLIDATED THIRD AMENDED COMPLAINT FOR VIOLATIONS OF THE FEDERAL SECURITIES LAWS-- Case no. CV-09-4208-JSW Case3:09-cv-04208-JSW Document217 Filed01/09/12 Page2 of 81 1 2 Lead Plaintiff Kyung Cho and named plaintiffs Rex DeChakul and David Hwa 3 (collectively the “Plaintiffs”) individually and on behalf of all other persons similarly situated, 4 their undersigned attorneys, allege in this Consolidated Second Amended Complaint ( 5 “Complaint”) the following upon knowledge with respect to their own acts, and upon 6 obtained through an investigation conducted by their counsel. -
Overview of the Fdic As Conservator Or Receiver
September 26, 2008 OVERVIEW OF THE FDIC AS CONSERVATOR OR RECEIVER This memorandum is an overview of the receivership and conservatorship authority of the Federal Deposit Insurance Corporation (the “FDIC”). In view of the many and complex specific issues that may arise in this context, this memorandum is necessarily an overview, but it does give particular reference to counterparty issues that might arise in the case of a relatively large complex bank such as a significant regional bank and outlines elements of the FDIC framework which differ from a corporate bankruptcy. This memorandum has three parts: (1) background on the legal framework governing FDIC resolutions, highlighting changes and developments since the 1990s; (2) an outline of six distinctive aspects of the FDIC approach with comparison to the bankruptcy law provisions; and (3) a final section illustrating issues and uncertainties in the FDIC resolutions process through a more detailed review of two examples – treatment of loan securitizations and participations, and standby letters of credit.1 Relevant additional materials include: the pertinent provisions of the Federal Deposit Insurance (the "FDI") Act2 and FDIC rules3, statements of policy4 and advisory opinions;5 the FDIC Resolution Handbook6 which reflects the FDIC's high level description of the receivership process, including a contrast with the bankruptcy framework; recent speeches of FDIC Chairman 1 While not exhaustive, these discussions are meant to be exemplary of the kind of analysis that is appropriate in analyzing any transaction with a bank counterparty. 2 Esp. Section 11 et seq., http://www.fdic.gov/regulations/laws/rules/1000- 1200.html#1000sec.11 3 Esp. -
GGD-94-28 Regulatory Burden: Recent Studies, Industry Issues
United States General Accounting Office Report to the Chairman, Committee on GAO Banking, Housing, and Urban Affairs U.S. Senate December 1993 REGULATORY BURDEN Recent Studies, Industry Issues, and Agency Initiatives GAO/GGD-94-28 United States General Accounting Office GAO Washington, D.C. 20548 General Government Division B-254591 December 13,1993 The Honorable Donald W. Riegle, Jr. Chairman, Committee on Banking, Housing, and Urban Affairs United States Senate Dear Mr. Chairman: This report responds to your request that we review regulatory costs imposed on the nation’s insured depository institutions. As you are aware, the banking industry has raised considerable concern about the cumulative burden of regulation and its effect on a bank’s ability to make sufficient credit available to worthy borrowers. Our report provides an overview of the regulatory burden studies conducted recently by, or on behalf of, the federal banking agencies and several of the major banking industry trade associations. Additionally, as part of this report we have included a description of the major regulatory burden issues reflected in those studies and agency actions or initiatives related to each issue. The results of our review should prove helpful in assessing the appropriateness and effectiveness of administrative, legislative, and regulatory initiatives proposed and/or undertaken to alleviate burdensome regulation and to enhance the availability of credit. During the course of our review we periodically briefed the Committee on the progress of our work and our preliminary results. This report compiles the information discussed with the Committee during those briefings. Information regarding our objectives, scope, and methodology is contained in appendix I. -
General Banking Activities”
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by BRAC University Institutional Repository Internship Report On “GENERAL BANKING ACTIVITIES” Of United Commercial Bank (Mirpur Road Branch) SUBMITTED TO Feihan Ahsan Lecturer Brac University SUPERVISED BY Amalendu Roy Branch Manager United Commercial Bank Limited SUBMITTED BY Humayra Haseen ID – 11304020 Major: Human Resource Management Minor: Finance LETTER OF TRANSMITTAL Date: 08.09.2015 To Feihan Ahsan Lecturer Brac University Through Amalendu Roy Branch Manager United Commercial Bank Limited Subject: Submission of Internship Report Dear Sir, It was a privilege and great pleasure for me to submit my internship report titled “GENERAL BANKING ACTIVITIES OF UCBL” that has been prepared as an essential part of my degree requirement. As you know, I had completed my internship in Mirpur branch of United Commercial Bank Limited which I got the chance to prepare my internship report on the above topic. While preparing this report I went through broad literature assessment and discussed with high bank officials. Surely ahead of any doubt it improves my understanding and also builds up my learning skill. I hope to meet your expectation from this report. I would be obliged to receive your propositions and remarks regarding this. Sincerely Yours Humayra Haseen ID – 11304020 Major: Human Resource Management Minor: Finance Department of Business Administration i STUDENT’S DECLARATION I, Humayra Haseen, student of Business Administration, Brac University, hereby state that the report offered in the name “GENERAL BANKING ACTIVITIES OF UCBL” Mirpur Road Branch, Dhanmondi, Dhaka, has been prepared and carried by me under the supervision of Amalendu Roy, Branch manager, United Commercial Bank Limited. -
Investor Presentation
Company Profile and Investment Overview East West Bancorp | Nasdaq: EWBC December 31, 2014 Safe Harbor Statement This presentation may include forward-looking statements that involve inherent risks and uncertainties. East West Bancorp, Inc. cautions readers that a number of important factors could cause actual results to differ materially from those in any forward-looking statements. These factors include economic conditions and competition in the geographic and business areas in which East West Bancorp and its subsidiaries operate, inflation or deflation, fluctuation in interest rates, legislation and governmental regulations, investigation of acquired banks and other factors discussed in the company’s filings with the SEC. 2 Our Vision To be recognized as the Premier Bridge between East and West, and acknowledged for delivering relationship driven financial solutions to an increasingly diverse and sophisticated customer base. 3 East West Today* • Headquartered in Pasadena, California, East West Bank is a commercial bank with focus on the U.S. and Greater China markets • Market Capitalization of $5.74 Billion › 24th Largest Market Capitalization in the U.S. for Public Banks • Total Assets of $28.7 Billion › 30th Largest Public Bank in the U.S. by Assets › 2nd Largest Independent Bank Headquartered in Southern California • Ranked in the Top 20 of the 100 Best Banks in America by Forbes in 2014 for the fifth consecutive year • Over 130 Locations Worldwide • Five Full Service Branches in Greater China • 2,700 Employees *Market capitalization is as of February 27, 2015. Financial information as of most recently reported figures, December 31, 2014. 4 Top 25 Banks by Market Capitalization Market Capitalization Market Capitalization at 2/27/15 at 2/27/15 Rank Company (in billions) Rank Company (in billions) 1 Wells Fargo & Company $282.29 14 M&T Bank Corporation $16.08 2 JPMorgan Chase & Co.