Banking Report Index-Summary

BAHAMAS

– Luxury resort property owners' RICO class action against Credit Suisse Bank and Cushman and Wakefield (D. Idaho), 94:28

BANK FAILURES

See FAILED BANKS

BANK SECRECY

– Enforcement, tax evasion laws, offshore financial centers meeting on strategy, 94:385
– European Parliament pressure on Luxembourg and Austria to give up national laws, 94:384; effort to establish system of automatic information exchange fails, 95:758
– France

– – Return of stolen data to HSBC Private Bank (Suisse), 94:31; tentative informal understanding, 94:243; identification of account holders, 94:774
– – Tax agreement with Switzerland, formalized deal on interpretation, 94:386

– Germany, state financial authorities purchase another compact disc with tax and bank data from informant, 95:759
– HSBC Bank, FRB and OCC orders on improving controls against money laundering and terror financing, 95:621
– Regulatory policy, reorganization of FinCEN code, 95:790
– Suspicious activity reports (SARs), FinCEN movement to electronic database, request for comments, 95:731
– Switzerland

– – Flat tax with continued confidentiality, interest from key neighbors growing, 95:758
– – Stolen bank data, Germany considering purchase as aid to identification of potential tax evaders, 94:292; Merkel support for purchase, 94:333; Swiss parliament members' legal challenge of German purchase, 94:487; Germany buys data, 94:1211
– – Voters reject effort to place referendum of revisions on ballot, 95:706

– Uruguay regulatory reform easing rules for catching suspected tax evaders, 94:1107

BANK SUPERVISION

– Automated overdraft payment programs, proposed FDIC guidance for state banks, 95:296; guidance as blueprint for action by other regulators, 95:962
– Backup supervision authority expansion for FDIC, MOU with OCC, OTS, and FRB, 95:50
– Basel Comm. series of draft recommendations on strengthening cooperation between national agencies in regulation of cross-border banks, 94:666; final series of recommendation, 95:701
– Deepwater Horizon explosion and oil spill, FRB and other federal financial regulators encouragement for banks with affected customers, 95:105
– Dividend payments, FRB guidance on allowing increased amounts for certain banks, 95:826; Tarullo remarks on large bank holding companies, 95:870
– Enforcement

– – Coordinated explanations of punishment vs. infraction necessary, BNA Insights, 94:1268
– – Statistics, actions against banks exceeded 1000 for first time in 2009, Special Report, 94:444

– European Union

– – Regulatory reform, recommendation to restore binding decisionmaking powers and review clause, 94:240; expanded powers for new banking authority, 94:332; European Parliament panel approval of controversial proposal, 94:901; threat to proposal from Parliament demand for stronger central agency, 95:55; closing loopholes for financial conglomerates, 95:330
– – Rift between member states and European Parliament threat to funding for new finance agencies, 95:947
– – Stress tests, criteria and list of targeted banks, 95:70; 7 of 91 banks fail stress tests, 95:173

– Financial regulatory system overhaul, small bank supervision, FRB authority necessary, Bernanke remarks, 94:545
– France, coordination of oversight of category-straddling financial products, 94:941
– Global financial crisis, FRB Boston president remarks on slow action responding to crisis, 95:676
– Microfinancing lending by banks and nonbank institutions, Basel Comm. final recommendations, 95:419
– National charter applications, statistics, OCC report, 94:1017
– Quarterly call reports, federal regulator requests for comment on proposals for more details, 95:780
– Regulatory policy, haphazard approach problematic for community banks and regional banks, 94:349
– Stress tests, beneficial template for improved FRB practices, Tarullo remarks, 94:609
– Switzerland, stress tests, largest banks pass, 95:174
– Taxation, American Bar Ass'n Tax Section discussion, 94:146
– Transaction account reserve requirements and exemption amounts, FRB rules for 2011, 95:781
– UK, stress tests, stringent bank requirements in preparation for worst case economic scenario, 94:534
– Washington Mutual Bank, Levin (D-Mich) criticism of OTS actions, 94:739

BANK TAXES

– EU financial transaction tax, European Parliament approval of resolution, 94:502; reiteration of support, 94:625; comments on undermining of national tax systems by tax havens, 94:626; revenue estimates based on U.S. proposal, 94:710; failure to reach consensus among member states, 94:742; European Comm'n proposal for controversial bank tax plan, 94:1099; plans to announce outline soon, 95:529; ECB warning against tax, 95:529; familiar hurdles in passing legislation, 95:584; European Comm'n supports 2-pronged approach, 95:613
– Financial Crisis Responsibility Fee, Pres. Obama proposal, 94:87; Rangel (D-NY) and Frank (D-Mass) plans for implementing measure, 94:129; possible impact of Brown victory in Mass, 94:143; Grassley (R-Iowa) request for CBO and JCT analysis of proposal, 94:144; American Bar Ass'n Tax Section discussion, 94:145; cooperation with G-20 countries under discussion, 94:162; Spain and EU likely to examine proposal, 94:162; Gregg (R-NH) criticism of proposal, 94:264; interest group discussion, 94:312; Neal (D-Mass) exemptions proposal, 94:419; CBO estimates, 94:466; Hill Watch, 94:712; coalition of stakeholders supporting proposal, 94:756; Baucus (D-Mont) comments, 94:796; Sobel remarks, 94:863; Geithner remarks, 94:902; Senate Finance Comm. hearing witness list, 94:930; FRB Minneapolis president suggestion, 94:964; impact on Fannie Mae and Freddie Mac, 94:965; AFL-CIO push for tax, 95:18; Hill Watch, 95:428; industry group letter to Baucus (D-Mont) opposing tax, 95:559; U.S. Chamber of Commerce report on unintended consequences, 95:569
– France, push for recovery of public funds used in bailouts, 94:792; proposed draft 2011 budget with tax on insurance firms, internet, and television services, 95:587
– G-20, bank tax not likely but stronger liquidity and capital standards still on table, 94:1117; EU push for addition of bank tax to Toronto summit talks, 94:937; EU forges ahead with independent bank tax, 94:1203; EU leaders and Pres. Obama in agreement on need for bank tax or financial transaction tax, 94:1259; bank tax proposal shelved, 94:1305; France, UK, and Germany joint proposal, 94:1307; U.S. opposition to global financial transaction tax, 95:530
– IMF recommendations for financial stability levy and financial activities levy, 95:32

BANKRUPTCY

– Abuse Prevention and Consumer Protection Act

– – Apparent failure in purpose of cutting filing rate for consumer bankruptcy, CRS report, 95:222
– – No permanent reduction in rate of consumer bankruptcy, CRS report, 94:699; updated report, 95:843

– Advanta Bank, FDIC asset freeze complaint (D.D.C.), 94:70
– Ambac Financial Group, voluntary filing for Chapter 11 protection (Bankr. S.D.N.Y.), 95:892
– Business filing statistics, restructuring expert forecast for 2011, 95:1124
– CIB Marine Bancshares, effectiveness of Chapter 11 pre-pack plan, 94:66
– Cost-benefit analysis of BAPCPA, remarks by speakers at industry teleconference, 95:630
– Debt buyer sanctions for not producing original loan documents, database reliance allowed (6th Cir.), 94:159
– Discharge injunction, no private right of action for violations (M.D. Pa.), 95:66
– Disclosure of price paid for claims, proposed amendment to federal procedure rules, interest group opinions, 94:321
– Dodd-Frank Act

See DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT

– Emergency homeownership and equity protection

See LEGISLATION, FEDERAL, HR 225

– Filings, AOUSC report, 2009 statistics, 94:482; 12-month period ending March 31, 94:987; calendar year 2009 summary, 95:231; 12-month period ending June 30, 95:326; FY2010, 95:892
– First Amendment right to remain anonymous outweighs creditor's interest in linking witness to disgruntled former employee (E.D.N.Y.), 94:933
– Foreclosure, Whitehouse (D-RI) call for more use of courts in mediation of actions, 95:944
– 401(k) accounts, debtors must pay creditors before making contributions to plans (B.A.P. 6th Cir.), 95:467
– Garnishment, service of papers on proper subject of orders, intangible interests in out-of-state firms (N.Y. Ct. App.), 94:373
– Homeownership preservation

– – House actions

See LEGISLATION, FEDERAL, HR 200, HR 1106

– – Senate actions

See LEGISLATION, FEDERAL, S 896

– Judgeships, authorization of appointment of additional temporary judges

See LEGISLATION, FEDERAL, HR 4506

– Lehman Bros. Holdings and affiliates

– – BoA proposed modification of terms in complex derivatives transaction, adversary suit (S.D.N.Y.), 95:1028
– – Chapter 11 reorganization plan, 94:561; BoA repayment for violating automatic stay (Bankr. S.D.N.Y.), 95:942
– – JP Morgan, alleged illegal transfers, adversary suit (S.D.N.Y.), 94:1094
– – Reflections on impact on anniversary of failure, Analysis and Perspective, 95:484

– Loan modification, Senate measure

See LEGISLATION, FEDERAL, S 61

– Manipulative debtors, interests of creditors can be weighed (8th Cir.), 94:328
– Mortgage lacking plat reference, trustee may refuse to honor obligations made by Wells Fargo unit (W.D. Mich.), 95:366
– Ownership cost deduction for unencumbered vehicles owned by above-median income debtor (U.S., rev grant), 94:819; (oral arg), 95:636
– Priority, FDIC bid to assert $905M claim against Colonial Bancgroup rejected (Bankr. M.D. Ala.), 95:410; FDIC appeal of ruling, 95:468
– Private student loans

See LEGISLATION, FEDERAL, HR 5043

– Projected disposable income, forward-looking approach acceptable in Chapter 13 cases (U.S., judg aff), 94:1194
– Real estate, impact of changes in deal structures on filing rate, attorney remarks, 94:482
– Student loans, Chapter 13 plans discharging debt in absence of undue hardship determination (U.S., judg aff), 94:621
– Technical corrections measure

See LEGISLATION, FEDERAL, HR 6198

BASEL II CAPITAL ACCORD

See CAPITAL

BELGIUM

– Systemic risk, 15 financial institutions under surveillance, 95:726

BEST PRACTICES

– E-rulemaking, OMB request for comment on document, 95:1024
– Low-cost checking and savings account products, FDIC selection of 9 banks for pilot program, 95:916
– OTC derivatives market, collateral management, ISDA recommendations, 94:520

BRAZIL

– Bank secrecy, court order not necessary for tax agent examination of some bank records, 95:1028; ruling reversed, 95:1028
– Currency exchange operations, biannual bank information on company accounts not related to imports or exports, 95:1140
– Derivatives, clearinghouse for private derivatives exposure, 95:988
– Economic policy, increase in bank reserve requirements, 95:1087
– Financial transaction taxes on foreign fixed-income stock investments, government increase of rate, 95:644

BUDGET, U.S.

– Obama administration FY2011 proposal likely to change landscape of U.S. savings policy, BNA Insights, 94:1214