News & Analysis as of September 25, 2024

Federal Deposit Insurance Corporation › Citigroup

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The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s. The FDIC's mission is to maintain... more +

The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s. The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships. less -

US Federal Banking Agencies Release Public Sections of Resolution Plans for Eight Systemically Important Financial Institutions

A&O Shearman on 10/26/2016

The US Federal Reserve Board and the FDIC posted the public portions of the required “targeted submissions” for eight systemically important US banking institutions...more

Financial Services Weekly News Roundup - November 2014 #4

Goodwin on 11/26/2014

Editor’s Note: Spotlight on the FDIC: In a Financial Institutions Letter, FIL-56-2014, the FDIC announced additional guidance on its 1998 Statement of Policy on Applications for Deposit Insurance in a Q&A format on...more

FDIC RMBS Suit Dismissed as Time-Barred

Orrick - Finance 20/20 on 9/10/2014

On August 29, Judge Louis L. Stanton of the United States District Court for the Southern District of New York granted a motion by JPMorgan, Citigroup and several other banks for judgment on the pleadings, dismissing a...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 8/11/2014

Fed Issues Report on the Economic Well-Being of U.S. Households - On August 7, the Fed provided a snapshot of the self-perceived financial and economic well-being of U.S. households and the issues they face, based on...more

Citigroup Settles with DOJ for $7 Billion

Bilzin Sumberg on 7/23/2014

Citigroup announced last week that it will pay $7 billion to end an investigation by the U.S Department of Justice into misconduct related to its mortgage securitization practices. The blockbuster settlement came days before...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 6/10/2014

FMLC Publishes Response on Bail-in Powers - In response to a consultation by HM Treasury, the UK's Financial Markets Law Committee (FMLC) published a letter on June 4 relating to the bail-in powers introduced by the...more

Orrick's Financial Industry Week in Review - April 14, 2014

Orrick, Herrington & Sutcliffe LLP on 4/14/2014

Agencies Apply Increased Leverage Ratio to Large U.S. Banks - On April 8, the Fed, FDIC and OCC adopted the final rule to increase the leverage ratio for the largest U.S. banks. The final rule applies to U.S. bank...more

FDIC’s $388M MBS Suit Brought On Behalf Of Colonial Bank Survives Motion to Dismiss

Orrick - Finance 20/20 on 10/8/2013

On September 27, Judge Louis L. Stanton of the Southern District of New York denied a motion by JPMorgan, Citigroup and several other banks to dismiss a lawsuit filed by the FDIC, as receiver for Colonial Bank, involving $388...more

Federal Court Dismisses $31 Million FDIC Suit as Time-Barred

Orrick - Finance 20/20 on 4/30/2013

On April 22, Judge Mariana R. Pfaelzer of the United States District Court for the Central District of California dismissed as time-barred the Federal Deposit Insurance Corporation’s (FDIC) $31 million suit against JPMorgan...more

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