Banking Report Index-Summary

FACT (FAIR AND ACCURATE CREDIT TRANSACTIONS) ACT

FAILED BANKS

– Access Bank of Champlin, Minn., 94:921
– Advanta Bank in Draper, Utah, 94:560
– Allegiance Bank of N. Am. in Bala Cynwyd, Pa., 95:930
– Amcore Bank of Rockford, Ill., 94:807
– American Marine Bank of Bainbridge Island, Wash., 94:279
– American Natl. Bank in Parma, Ohio, 94:560
– AmericanFirst Bank of Clermont, Fla., 94:754
– AmTrust Bank in Cleveland, Ohio, FDIC sale of 40 percent equity to consortium, 95:154; FDIC closes on sale, 95:299
– Appalachian Community Bank in Ellijay, Ga., 94:560
– Appalachian Community Bank in McCaysville, Ga., 95:1109
– Arcola Homestead Savings Bank of Arcola, Ill., 94:1130
– Asset Disposition Program, FDIC official discussion of preferred resolution strategy, 94:799
– Austria, nationalization plan for Hypo Alpe-Adria, European Comm'n temporary approval, 94:29; antitrust regulator approval, 95:279
– Bank of Bonifay, in Bonifay, Fla., 94:921
– Bank of Ellijay in Ellijay, Ga., 95:458
– Bank of Fla. - Southeast in Fort Lauderdale, Fla., 94:1130
– Bank of Fla. - Southwest in Naples, Fla., 94:1130
– Bank of Fla. - Tampa Bay in Tampa Bay, Fla., 94:1130
– Bank of Hiawassee in Hiawassee, Ga., 94:560
– Bank of Ill., 94:472
– Bank of Leeton, Mo., 94:147
– Bank of Miami, N.A., in Miami, Fla., 95:1109
– Barnes Banking of Kaysville, Utah, 94:147
– Basel Comm. on Banking Supervision, final version of recommendations to financial authorities on winding up institutions with extensive cross-border operations, 94:550
– Basel II Capital Accord, proposal for minimizing public support, 95:287
– Bay Natl. Bank in Baltimore, Md., 95:60
– Bayside Savings Bank of Port Saint Joe, Fla., 95:208
– BC Natl. Banks in Butler, Mo., 94:863
– Beach First Natl. Bank of Myrtle Beach, S.C., 94:702
– Bramble Savings Bank in Milford, Ohio, 95:458
– Broadway Bank of Chicago, Ill., 94:807
– Butler Bank of Lowell, Mass., 94:754
– Butte Community Bank in Chico, Cal., 95:301
– Carson River Community Bank of Carson City, Nev., 94:420
– Centennial Bank in Ogden, Utah, 94:472
– Century Security Bank in Duluth, Ga., 94:560
– CF Bancorp of Port Huron, Mich., 94:863
– Champion Bank in Creve Coeur, Mo., 94:863
– Charter Bank of Santa Fe, N.M., 94:147
– Chestatee State Bank in Dawsonville, Ga., 95:1109
– Citizens Bank & Trust of Chicago, Ill., 94:807
– City Bank of Lynnwood, Wash., 94:754
– Coastal Community Bank of Panama City Beach, Fla., 95:208
– Columbia River Bank of The Dalles, Or., 94:147
– Community Bank and Trust of Cornelia, Ga., 94:279
– Community Natl. Bank At Bartow in Bartow, Fla., 95:301
– Community Natl. Bank in Lino Lakes, Minn., 95:1109
– Community Security Bank in New Prague, Minn., 95:152
– Copper Star Bank in Scottsdale, Ariz., 95:887
– Corus Bank, N.A., of Chicago, Ill., FDIC note offering closed, 94:800
– Crescent Bank and Trust in Jasper, Ga., 95:152
– Darby Bank & Trust of Vidalla, Ga., 95:887
– Desert Hills Bank of Phoenix, Ariz., 94:605
– Earthstar Bank in Southampton, Pa., 95:1063
– Eurobank of San Juan, P.R., 94:863
– Evergreen Bank of Seattle, Wash., 94:147
– First Am. State Bank of Hancock, Minn., 94:327
– First Arizona Savings in Scottsdale, Ariz., 95:731
– First Bank of Jacksonville in Jacksonville, Fla., 95:731
– First Banking Ctr. in Burlington, Wis., 95:930
– First Commerce Community Bank in Douglasville, Ga., 95:458
– First Fed. Bank of N. Fla. in Palatka, Fla., 94:754
– First Lowndes Bank in Fort Deposit, Ala., 94:560
– First Natl. Bank of Barnesville in Barnesville, Ga., 95:731
– First Natl. Bank of Ga., 94:279
– First Natl. Bank of Rosedale, Miss., 94:1130
– First Natl. Bank of Savannah, Ga., 94:1296
– First Natl. Bank of South, Spartanburg, S.C., 95:99
– First Regional Bank of Los Angeles, Cal., 94:279
– First Southern Bank of Batesville, Ark., 95:1109
– First Suburban Natl. Bank in Maywood, Ill., 95:731
– First Vietnamese Am. Bank in Westminster, Cal., 95:841
– 1st Pac. Bank of Cal. in San Diego, Cal., 94:921
– Firstmerit Bank, N.A., in Akron, Ohio, 94:963
– Florida Community Bank of Immokalee, 94:279
– Franklin Bank, S.S.B., of Houston, Tex., FDIC note offering closed, 94:800
– Frontier Bank in Everett, Wash., 94:863
– George Washington Savings Bank in Orland Park, Ill., 94:420
– Germany, urgent rescue aid and bad bank plan for WestLB, European Comm'n approval, 94:30; extension of scheme, 94:1306; exit strategies for partly state-owned banks, 94:1307; European Comm'n probe into state aid and additional subsidy, 95:853
– Gordon Bank in Gordon, Ga., 95:731
– Granite Community Bank, N.A., in Granite Bay, Cal., 94:1130
– Gulf State Community Bank in Carrabelle, Fla., 95:930
– Haven Trust Bank Florida in Ponte Vedra Beach, Fla., 95:518
– Heritage Community Bank of Chicago, FDIC negligence suit against officers and directors (N.D. Ill.), 95:846
– High Desert State Bank in Albuquerque, N.M., 94:1296
– Hillcrest Bank in Overland Park, Kansas, 95:731
– Home Natl. Bank in Blackwell, Okla., 95:60
– Home Valley Bank in Cave Junction, Or., 95:152
– Horizon Bank in Bellingham, Wash., 94:59
– Horizon Bank of Bradenton, Fla., 95:404
– Ideal Fed. Savings Bank in Baltimore, Md., 95:60
– Imperial Savings and Loan Ass'n in Martinsville, Va., 95:301
– Independent Bankers' Bank of Springfield, Ill., purchase and assumption agreement, 94:108
– Independent Natl. Bank in Ocala, Fla., 95:301
– Innovative approaches, FDIC response to increased workload, 94:672
– Innovative Bank of Oakland, Cal., 94:754
– ISN Bank in Cherry Hill, N.J., 95:458
– Japan, Incubator Bank of Japan, first use of deposit insurance since post-WWII era, 95:422
– K Bank of Randallstown, Md., 95:841
– Key West Bank in Key West, Fla., 94:605
– La Coste Natl. Bank in La Coste, Tex., 94:420
– La Jolla Bank, FSB of La Jolla, Cal., 94:420
– Lakeside Community Bank, Sterling Heights, Mich., 94:754
– LibertyBank in Eugene, Or., 95:208
– LibertyPointe Bank of New York, N.Y., 94:514
– Lincoln Park Savings Bank of Chicago, Ill., 94:807
– Los Padres Bank in Solvang, Cal., 95:301
– Loss-share agreements, FDIC correction of weaknesses and calculation errors in place, 95:57
– Mainstreet Savings Bank, FSB, of Hastings, Mich., 95:99
– Marco Community Bank of Marco Island, Fla., 94:420
– Maritime Savings Bank in West Allis, Wis., 95:458
– Marshall Bank, N.A., of Hallock, Minn., 94:279
– McIntosh Commercial Bank in Carrollton, Ga., 94:605
– Metro Bank of Dade County, in Miami, Fla., 95:99
– Mortgage-backed securities from 7 receiverships, FDIC sale of notes, 94:504
– Mortgage loans and proceeds in custody arrangement subject to FDIC claims process (11th Cir.), 94:883
– Multibank structured transactions

– – Colony Capital Acquisitions and Cogsville Group as winning bids for failed bank assets, 95:99
– – FDIC plans for smaller and geographically focused transactions, 95:457
– – Mariner Real Estate Partners as winning bidder for assets from 20 failed institutions, 95:399
– – RoundPoint Mortgage Servicing winning bidder in FDIC auction of leveraged ownership interest in residential mortgage portfolio, 94:650

– Netherlands, Fortis and ABN AMRO, European Comm'n permission for another bailout, 94:333
– New Century Bank of Chicago, Ill., 94:807
– New Liberty Bank in Plymouth, Mich., 94:963
– North County Bank in Arlington, Wash., 95:518
– NorthWest Bank and Trust of Acworth, Ga., 95:208
– Notes backed by real estate loans from 22 institutions, FDIC sale closed, 94:1018
– Old S. Bank of Orlando, Fla., 94:514
– Olde Cypress Community Bank in Clewiston, Fla., 95:99
– Pacific State Bank in Stockton, Cal., 95:301
– Palos Bank and Trust, Palos Heights, Ill., 95:301
– Paramount Bank in Farmington Hills, Mich., 95:1063
– Park Ave. Bank of New York, New York, 94:514
– Peninsula Bank of Englewood, Fla., 94:1296
– Peoples Bank in Winder, Ga., 95:458
– Peotone Bank and Trust in Peotone, Ill., 94:807
– Pierce Commercial Bank in Tacoma, Wash., 95:841
– Pinehurst Bank in St. Paul, Minn., 94:1039
– PPIP, interest in purchases of assets rather than acquisition in entities, 94:283
– Premier Am. Bank of Miami, Fla., 94:147; first use of shelf charters in sale, 94:218
– Premier Bank in Jefferson City, Mo., 95:678
– Progress Bank of Florida in Tampa, Fla., 95:731
– R-G Premier Bank of Hato Rey, P.R., 94:863
– Rainier Pac. Bank of Tacoma, Wash., 94:420
– Ravenswood Bank in Chicago, Ill., 95:262
– Regulatory reform

– – Shareholders and creditors likely bearers of losses under new resolution regime, 94:748
– – Systemically important financial institutions, FDIC interim rule with broad definition of resolution powers, 95:395

– Riverside Natl. Bank of Fla. in Fort Pierce, Fla., 94:754
– St. Stephen State Bank, Minn., 94:147
– Satilla Community Bank in Saint Marys, Ga., 94:963
– Securitization, safe harbor protections

– – FDIC extension, 94:506
– – Securities originated by failed banks, FDIC notices of proposed rulemaking, 94:958; financial services industry groups' push for coordination with financial reform legislation, 95:52

– Security Savings Bank, FSB, in Olathe, Kansas, 95:678
– Shelf charters, OCC authorization of first use, 94:218
– ShoreBank in Chicago, Ill., 95:301
– Shoreline Bank of Shoreline, Wash., 95:574
– Silverton Bank of Atlanta, Ga., Square Mile Capital winning bid for SFG subsidiary, 94:919; sale completed, 95:12
– Sonoma Valley Bank in Sonoma, Cal., 95:301
– Southwest Community Bank in Springfield, Mo., 94:963
– SouthwestUSA Bank in Las Vegas, Nev., 95:152
– State Bank of Aurora in Aurora, Minn., 94:560
– Statewide Bank of Covington, La., 94:514
– Statistics, FDIC failure rate report, 94:1187
– Statutes of limitations, mandatory FDIC action period on filed claims (S.D. Fla.), 95:322
– Sterling Bank in Lantana, Fla., 95:152
– Sun Am. Bank in Boca Raton, Fla., 94:472
– Sun West Bank of Las Vegas, Nev., 94:1130
– Tamalpais Bank of San Rafael, Cal., 94:754
– Tax treatment of FDIC-assisted acquisitions, NYSBA Tax Section suggestions, 94:878
– The Cowlitz Bank of Longview, Wash., 95:208
– Thunder Bank in Sylvan Grove, Kansas, 95:152
– TierOne Bank in Lincoln, Neb., 94:1130
– Tifton Banking of Tifton, Ga., 95:887
– Town Community Bank and Trust of Antioch, Ill., 94:147
– Towne Bank of Mesa, Ariz., 94:921
– Turnberry Bank in Aventura, Fla., 95:99
– United Americas Bank, N.A., in Atlanta, Ga., 95:1109
– United Commercial Bank of San Francisco, FDIC and China Banking Regulatory Comm'n cross-border resolution agreement, 94:1079
– Unity Natl. Bank in Centersville, Ga., 94:605
– USA Bank in Port Chester, N.Y., 95:60
– Wakulla Bank of Crawfordville, Fla., 95:574
– Washington First Intl. Bank in Seattle, Wash., 94:1190
– Waterford Bank of Germantown, Md., 94:472
– WestBridge Bank and Trust in Chesterfield, Mo., 95:678
– Western Commercial Bank in Woodland Hills, Cal., 95:841
– Westernbank of San Juan, P.R., 94:863
– Wheatland Bank in Naperville, Ill., 94:807
– Williamsburg First Natl. Bank in Kingstree, S.C., 95:152
– Woodlands Bank in Bluffton, S.C., 95:99

FAIR AND ACCURATE CREDIT TRANSACTIONS (FACT) ACT

See generally CONSUMER PROTECTION

FAIR CREDIT REPORTING ACT

– Amendments to creditor definition

See LEGISLATION, FEDERAL, HR 6420

FAIR LENDING

– AIG subsidiaries, settlement over allegations of discriminatory lending, 94:481
– Anti-predatory lending measures, Ill. database program expansion, 94:67
– CARD Act rules under Regulation Z, FRB proposes clarifying amendments, 95:728
– Countrywide Financial, alleged discriminatory mortgage lending practices against minority borrowers (Ill. Cir. Ct.), 95:23
– Enforcement policy, new DOJ unit, 94:112; possible impact on consumer lending disputes, 94:112; impact of fate of CFPA, 94:112
– Mortgages, additional conditions to contracts as racially based lending discrimination (3d Cir.), 95:409
– Pricing analysis, OCC researcher paper on new mathematical process for underwriting, 94:359
– TARP, borrower's claim of coordinated lending bias against Citibank, appraisal firm, and onsite appraiser (7th Cir.), 95:228

FAIR VALUE MEASUREMENT

– Credit quality and allowance for credit losses, disclosure requirements, exclusion of fair value and other issues, 94:402
– Current use of assets different from highest and best use, FASB and IASB agree on disclosure requirements, 95:738
– Disclosure, FASB ASU requiring robust improvements, 94:146; IASB and FASB debate on requirements for least observable fair valuations, 94:627; request for public comment on additional uncertainty analysis for Level 3 fair values, 95:33
– Financial liabilities, IASB closer to presentation of issues, 95:474
– How-to rules, difficult task for FASB and IASB on writing identical documentation, 95:925
– Impact on regulatory capital during financial crisis small, FRB Boston analysis, 94:265
– Investment properties, FASB plans for proposal, 95:105
– Liabilities with third-party guarantees, IASB and FASB alignment of requirements, 95:1138
– Loan commitments on balance sheet, FASB proposed requirements, 94:548; investor disagreement with proposal, 95:573
– Long-held assets, FASB application threat to U.S. Banks, Bair remarks, 95:914
– Own credit risk in financial liability measurement, little support for IASB proposals, 94:29; IASB financial instruments working group opinions on approach to issue, 94:77; IASB agreement on seeking constituent views on series of accounting alternatives, 94:627; IASB solicitation of comments on proposals, 94:989
– Portfolio approach for financial instruments held by banks, FASB and IASB tentative decision, 94:500
– Reminder to investors and financial institutions for first quarter 2010 disclosures, 94:756

FARM CREDIT SYSTEM

– Taxation, Mich. federally chartered institutions subject to state tax, 95:796

FASB

See FINANCIAL ACCOUNTING STANDARDS BOARD (FASB)

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)

– Appointments and personnel changes

– – Dujenski shift from Dallas to Atlanta, 94:969
– – Glassman retirement, 95:842
– – Pearce as director of Depositor and Consumer Protection Division, 95:693
– – Wigand appointment as director of Complex Financial Institutions Office, 95:1110

– Budget, FY2011 spending, board approval, 95:1108
– Complex Financial Institutions Office (CFI), efforts to bring up to speed, 95:673
– Increased borrowing authority and other new powers

See LEGISLATION, FEDERAL, S 896

FEDERAL HOME LOAN BANKS

– Capital, FHLB Seattle restoration and risk management plans submission for FHFA approval, 95:787
– Community development financial institutions, FHFA rule on membership, 94:10
– Permanent exemption of municipal bonds from taxes

See LEGISLATION, FEDERAL, HR 5311

– Quarterly combined financial report, March 2010, 94:870
– Voluntary mergers, FHFA proposed rule establishing approval process, 95:966

FEDERAL HOUSING ADMINISTRATION (FHA)

– Budget, FY2011 appropriations, large discrepancy between CBO and OMB estimates, 94:1020
– Modeling methods, GAO review of assessment of financial health of mortgage insurance fund, 95:505
– Ombudsman Office, proposed establishment rule, 95:261
– Reforms

– – Mortgage banking industry reaction to proposed changes to credit and risk management policies, 94:513
– – Waters (D-Cal) measure

See LEGISLATION, FEDERAL, HR 5072

FEDERAL HOUSING FINANCE AGENCY (FHFA)

– Smith nomination as director, 95:875; testimony before Senate Banking Comm., 95:1051; Senate Banking Comm. approval, 95:1110

FEDERAL RESERVE BOARD (FRB)

– Appointments and personnel changes

– – Bernanke confirmation in second term as chair, 94:214
– – Diamond nomination as governor, 94:873; continued accommodative position likely, 95:101; Senate Banking Comm. approval, 95:223; Dodd (D-Conn) remarks on swift action, 95:461; Senate Banking Comm. approval again, 95:931
– – Moore as interim CEO of FRB San Francisco, 95:632
– – Raskin nomination as governor, 94:873; continued accommodative position likely, 95:101; Senate Banking Comm. approval, 95:223; Senate approval, 95:577
– – Yellen nomination as vice chair, continued accommodative position likely, 95:101; Senate Banking Comm. approval, 95:223; Senate approval, 95:577

– Balance sheet changes driven by crisis, 2009 comparative consolidated financial statements, 94:807
– Community Depository Institutions Advisory Council, representation of broad array of different institutions, 95:571
– E-Apps, internet-based system for financial institutions to submit regulatory filings, 94:233
– Financial Stability Policy and Research Office, development and coordination of staff efforts in identification and analysis of potential risks, 95:836
– Regulatory reform

– – Active exercise of current powers toward tighter capital and liquidity rules, Bernanke remarks, 94:906
– – Autonomy in setting short-term interest rate targets, Bernanke remarks, 94:1076

– Role as independent policymaker, Hoenig remarks on impact of federal deficit, 94:360

FEDERAL RESERVE SYSTEM

– Appointments and personnel changes, Yellen nomination as FRB San Francisco president, 94:873
– Independence, threat by GAO audit proposal, 94:272

FEDERAL TRADE COMMISSION (FTC)

– Appointments and personnel changes, Tunstall move to Ballard Spahr, 95:415

FEES AND COSTS

– Credit cards, broker-dealers, Mass. request for information on fees and interest rates, 94:106; recent changes to cardholder agreements also under scrutiny, 94:228
– EU, multilateral interbank fees, market testing of debit card pact with Visa Europe, 94:1068
– Insufficient funds and overdrafts

– – Credit unions, NCUA interim final rules, 95:205
– – FRB ban proposal for ATM transactions and one-time debit card transactions in Regulation E rule changes, 94:347; FRB clarification, 94:413; public comments sought, 94:414; final clarification issued, 94:1065
– – House actions

See LEGISLATION, FEDERAL, HR 3904

– – Senate actions

See LEGISLATION, FEDERAL, S 1799

– Interchange fees

– – Dodd-Frank Wall Street Reform and Consumer Protection Act, “price setting” provisions for debit cards, House Small Business Comm. panel hearing, 95:204
– – Dubin (D-Ill) amendment to appropiations measure dies in committee, 95:203
– – Frank (D-Mass) remarks, 94:413
– – Hill Watch, 94:712
– – House measure

See LEGISLATION, FEDERAL, HR 2695

– Loan modification, upfront fees for services, FTC proposed ban for foreclosure rescue and loan modification firms, 94:275; public comments sought, 94:513
– Returned item fees, Regulation DD final rule, public comments sought on FRB proposal, 94:414

FHA

See FEDERAL HOUSING ADMINISTRATION (FHA)

FHFA

See FEDERAL HOUSING FINANCE AGENCY (FHFA)

FINANCIAL ACCOUNTING STANDARDS BOARD (FASB)

See also generally ACCOUNTING
– Appointments and personnel changes

– – Golden named as director, 95:465
– – Herz retirement from chairman post, 95:351; impact on convergence and financial instruments projects, Special Report, 95:436

FINANCIAL INDUSTRY REGULATORY AUTHORITY (FINRA)

– Enforcement, statistics for 2009, 95:64
– Misconduct allegations against Schapiro and other executives, board of governors meeting, 94:282
– NYSE market surveillance and oversight functions, 94:926

FINANCIAL REGULATORY SYSTEM OVERHAUL

– Harmonization of proposals, Frank (D-Mass) and Dodd (D-Conn) remarks, 94:596

FINANCIAL STABILITY BOARD (FSB)

– International financial standards, framework for strengthened adherence, 94:52

FINANCIAL STABILITY OVERSIGHT COUNCIL (FSOC)

– Effectiveness dependent on master of challenges, financial expert remarks, 95:785
– Regulatory policy, Dodd (D-Conn) remarks on approach to role, 95:554

FINANCIAL STABILITY PLAN

– Legacy Loan Program (LLP)

See PUBLIC PRIVATE INVESTMENT PROGRAM (PPIP)

FINLAND

– Data security, Luottokunta data breach, theft of data from over 100,000 payment cards, 94:443

FINRA

See FINANCIAL INDUSTRY REGULATORY AUTHORITY (FINRA)

FLORIDA

– Credit unions, Eastern Financial Fla. Credit Union collapse, failure of regulators in recognizing dangers of CDO investments, 94:923
– Failed banks

– – AmericanFirst Bank of Clermont, 94:754
– – Bank of Bonifay, in Bonifay, 94:921
– – Bank of Fla. - Southeast in Fort Lauderdale, 94:1130
– – Bank of Fla. - Southwest in Naples, 94:1130
– – Bank of Fla. - Tampa Bay in Tampa Bay, 94:1130
– – Bank of Miami, N.A., in Miami, 95:1109
– – Bayside Savings Bank of Port Saint Joe, 95:208
– – Coastal Community Bank of Panama City Beach, 95:208
– – Community Natl. Bank At Bartow in Bartow, 95:301
– – First Bank of Jacksonville in Jacksonville, 95:731
– – First Fed. Bank of N. Fla. in Palatka, 94:754
– – Florida Community Bank of Immokalee, 94:279
– – Gulf State Community Bank in Carrabelle, 95:930
– – Haven Trust Bank Florida in Ponte Vedra Beach, 95:518
– – Horizon Bank of Bradenton, 95:404
– – Independent Natl. Bank in Ocala, 95:301
– – Key West Bank in Key West, 94:605
– – Marco Community Bank of Marco Island, 94:420
– – Metro Bank of Dade County, in Miami, 95:99
– – Old S. Bank of Orlando, 94:514
– – Olde Cypress Community Bank in Clewiston, 95:99
– – Peninsula Bank of Englewood, 94:1296
– – Premier Am. Bank of Miami, 94:147; first use of shelf charters in sale, 94:218
– – Progress Bank of Florida in Tampa, 95:731
– – Riverside Natl. Bank of Fla. in Fort Pierce, 94:754
– – Sterling Bank in Lantana, 95:152
– – Sun Am. Bank in Boca Raton, 94:472
– – Turnberry Bank in Aventura, 95:99
– – Wakulla Bank of Crawfordville, 95:574

– Foreclosure, mandatory mediation for residential homestead property cases (Fla.), 94:23

FORECLOSURE

– Anti-blight rules, banker negotiations with Chula Vista, Cal., officials on responsibility for abandoned properties, 94:18; Cal. city amendment to anti-blight ordinance, 94:229
– Bank walkaways, GAO report on impact on local communities, 95:932
– Closure of judicial proceedings, Fla. supreme court justice orders open courts, 95:945
– Deceptive or unfair practices by loan servicers, state AGs and regulators form investigatory task force, 95:665
– Disclosure duties, SEC reminder to CFOs, 95:790
– EESA fund for distressed homeowners in hardest-hit states, 94:354
– FHA fines for delaying starts unfair, mortgage bankers groups remarks, 95:733
– Flawed documents, Fannie Mae and Freddie Mac contemplation of punitive measures against mortgage servicers for extra costs, 95:666
– Fraud, FTC proposed prohibition on upfront fees from rescue firms, 94:275; public comments sought, 94:513
– Free mortgage counseling, R.I. notice law, 94:66
– Home Affordable Modification Program, Treasury Dep't proposal prohibiting action against homeowners not under consideration, 94:403; foreclosure bar for potentially eligible homeowners, 94:594; BoA class actions for breach of contract (J.P.M.L.), 95:890
– Improper filing practices

– – BoA defends allegedly sound decisions, 95:774
– – Preliminary review shows most problems at large firms not directly supervised by FDIC, Bair remarks, 95:674
– – Subpoenas served on law firms in connection with representation of lenders, 95:322
– – Wells Fargo admits loan errors, 95:774

– Lender practices

– – Federal regulator review, Bernanke and Bair remarks, 95:719
– – NYC pension funds seeking audit of bank practices, 95:930
– – Probe at state and federal levels, Special Report, 95:858; discussions still in early stages, 95:918
– – Special exams for large servicers, OCC counsel remarks, 95:1011
– – State AGs requests for information from GMAC Mortgage, 95:558

– Mandatory mediation

– – Ill. high court unveils innovative program for helping delinquent borrowers, 94:1193
– – Residential homestead property cases (Fla.), 94:23

– Mishandled documents, Senate Banking Comm. hearing schedule and state probes, 95:620
– Missing mortgage papers, investors win dispute over recovering losses from short-circuited foreclosure bid (7th Cir.), 95:633
– Moratorium

– – BoA resumption of processing, 95:666
– – Conn. AG request for 60-day freeze during investigation of JPMorgan Chase, 95:557

– Notices on homes, RealtyTrac report, Dec. 2009, 94:109
– Problematic affadavits, state law enforcement officials and banking regulators interaction with major mortgage servicers, 95:667
– Reciprocal attorneys' fee rights to prevailing borrowers, N.Y. governor signs law, 95:795
– Regulatory policy, FSOC role in addressing documentation problems and servicer oversight, Senate Banking Comm. hearing, 95:1005
– Robosigners, several class actions filed over bank failure to follow federal guidelines, 95:890
– State and local government, crisis legislation statistics, 94:140
– Taxation, loss deductions addressed in IRS information letters, 94:226
– Validity of loan documents, D.C. new rules for banks, 95:774
– Verification of accuracy of documents, new N.Y. state requirements, 95:746

FOREIGN ACCOUNTING TAX COMPLIANCE ACT (FATCA)

– Hiring incentives

See EMPLOYMENT

– Tax treaties

See TAX HAVENS

– Taxes

See INTERNATIONAL TAX; TAXATION

FORFEITURE

– Broader authority to freeze assets in response to allegations by foreign government officials rejected (D.C. Cir.), 95:110
– Madoff Ponzi scheme, DOJ proceedings against 2 former employees (S.D.N.Y.), 94:1302

FRANCE

– Bank secrecy

– – 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

– Bank supervision, coordination of oversight of category-straddling financial products, 94:941
– Bank taxes, 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
– Credit default swaps, launch of Paris-based clearing service, 94:668
– Data security, finger-vein pattern authentication, government approval of plan, 94:668
– Executive compensation, bonus tax on bankers likely to raise 360M euros, 94:117
– Financial system reform, regulations for short sales, derivatives, bank oversight, bonuses, and credit rating agencies, 95:805
– Interbank fees, fines for collusion on overcharging, 95:536
– Securities fraud, Paris court conviction of Societe Generale trader with exoneration of bank, 95:635
– Tax havens, plans to publish official blacklist of 18 uncooperative jurisdictions, 94:387
– Taxation, executive bonus tax on bankers likely to raise 360M euros, 94:104

FRAUD

– Bank fraud

– – AIG, sham transactions, alleged executives' roles in reinsurance transaction concealing underwriting losses from auto warranty program (N.Y. Sup. Ct.), 95:797
– – Hume Bank, former president of failed institution guilty plea for making false statements to FDIC (W.D. Mo.), 95:799

– Checks, Suspicious Activity Reports, FinCEN data, first half of 2009, 94:222
– Citigroup

– – Epirus Capital Mgmt. claims dismissed (S.D.N.Y.), 94:931
– – FINRA fines and disgorgement, 94:1095
– – Norwegian municipalities claims concerning fund linked notes offering (S.D.N.Y.), 94:376
– – Subprime mortgage market exposure, SEC charges of material misrepresentations (D.D.C.), 95:215; reconsideration of preliminary settlement agreement, 95:327; final court approval of settlement, 95:699; Investment Advisers Act relief, 95:797

– Consumer credit, Debt Relief USA, restitution to consumers under final judgment and permanent injunction (Tex. Dist. Ct.), 95:1077
– Corporate Fraud and Accountability Act

See SARBANES-OXLEY ACT

– Enforcement policy

– – N.Y. Southern District new civil unit for complex and large-scale schemes, 94:661
– – Newly created interagency task force on financial crimes, 94:60
– – Pace of financial fraud actions, congressional inquiry, 95:521
– – Subpoenas against 15 FHA mortgage lenders, 94:101

– EU deadlock over tax fraud measure broken, 95:1084
– Foreclosure

– – BoA alleged robosigning class actions (S.D. Ind.)(D.N.J.), 95:890
– – GMAC Mortgage class action (D. Me.), 95:890
– – Merscorp electronic transactions class action (S.D. Fla.), 95:890

– France, Paris court conviction of Societe Generale trader with exoneration of bank, 95:635
– Germany, tax investigation related to emissions trading, 94:889
– GSEs, Frank (D-Mass)-Kanjorski (D-Pa) call for increased FHFA loss recovery efforts, 95:293
– Madoff Ponzi scheme

– – Bank of N.Y. Mellon, alleged breach of fiduciary duty (N.Y. Sup. Ct.), 94:984
– – Derivative products linked to feeder funds, trustee suit against 7 global banks (Bankr. S.D.N.Y.), 95:1072
– – Forfeiture from 2 former employees, DOJ suit (S.D.N.Y.), 94:1302
– – Hedge fund manager, Cuomo seeks summary judgment (N.Y. Sup. Ct.), 95:751
– – Hedge funds, trustee suit against individuals and entities related to London affiliates (Bankr. S.D.N.Y.), 95:1073
– – JPMorgan Chase, alleged liability for damages for aiding fraud, trustee claims (Bankr. S.D.N.Y.), 95:1031
– – Luxembourg

– – – Liquidator suit against UBS and Ernst & Young, 94:620
– – – UBS liability as custodian bank for European feeder mutual funds, 94:490; preliminary probe, 94:1200

– – UBS owes investors more than $2B in fees and damages, trustee claims (Bankr. S.D.N.Y.), 95:983

– Merrill Lynch acquisition by BoA

– – Alleged violation of federal proxy rules prior to shareholder vote (S.D.N.Y.), 94:115; proposed settlement, 94:286; ruling delayed, 94:329; transcripts of witness testimonies, 94:373; denial of deliberate withholding of information, 95:326
– – Failure to disclose losses, N.Y. AG and SIGTARP charges against 2 executives and bank, 94:285
– – N.Y. State Common Retirement Fund seeking recovery for losses from subprime mortgage-backed securities (S.D.N.Y.), 95:169
– – SEC IG expansion of investigation into controversial settlement of proxy charges, 94:1133; BoA status as TARP recipient factor in original settlement recommendation, 95:1019

– Mortgages

– – Class actions, ruling likely helpful for lenders facing third-party allegations (3d Cir.), 94:1094
– – Countrywide Financial target of state AG allegations (Ariz. Super. Ct.), 95:1126
– – Detection and deterrence, FFIEC updated white paper, 94:358
– – Financial Fraud Enforcement Task Force warning of evolving schemes, 95:569
– – FTC proposed prohibition on upfront fees from foreclosure rescue and loan modification firms, 94:275; public comments sought, 94:513
– – Loan modification

– – – BoA alleged deceptive trade practices (Nev. Dist. Ct.), 95:1127
– – – Lawyer and 2 associates alleged involvement in nationwide scam (Cal. Super. Ct.), 94:237

– – Operation Stolen Dreams, DOJ, IRS, HUD, FBI, and others announce criminal indictments, 94:1254
– – R.I. task force on deceptive foreclosure and loan modification operators, 94:878
– – Subpoenas against 15 FHA lenders, 94:101
– – Suspicious Activity Reports, FinCEN data, first half of 2009, 94:222
– – Taylor, Bean, & Whitaker, former chairmen facing SEC charges related to alleged role in scheme (M.D. Fla.)(E.D. Va.), 94:1255

– Securities

– – Abacus transaction, request for DOJ investigation into Goldman Sachs and similar cases, 94:847
– – AIG, class action settlement involving allegations of anticompetitive market division, accounting violations, and stock price manipulation (S.D.N.Y.), 95:111
– – Auction rate securities class action, Raymond James Financial, some investor claims may proceed (S.D.N.Y.), 95:468
– – BankAtlantic Bancorp misled investors about risks in real estate loan portfolio (S.D. Fla.), 95:940
– – Bernard L. Madoff Investment Securities scheme

See Madoff Ponzi scheme, this heading

– – Citigroup suits

See Citigroup, this heading

– – Class actions, claims by non-U.S. investors, extraterritorial reach of federal laws (U.S., aff), 95:24
– – Countrywide Financial, SEC claims against 3 former senior exectuvies allowed to proceed (C.D. Cal.), 95:469; former CEO civil fine, 95:695
– – Credit Agricole Securities, private equity funds allegations of bank fraud in sale of collateralized debt obligations (N.Y. Sup. Ct.), 95:798
– – Deloitte & Touche former partner suit over trades in client stock (Del. Ch.), 94:114
– – Goldman Sachs and senior executive, alleged misstatements and omissions in connection with structuring and sale of subprime residential mortgage-backed derivatives (S.D.N.Y.), 94:735; correction to page 94:735, 94:795; potential impact of enforcement action, 94:803; record penalty and business practices reform, 95:110; SEC broadening of investigation into motivation for settlement, 95:157; Landesbank Baden-Wuerttemberg files complaint, 95:639; no links between enforcement action and reform legislation, 95:682
– – JP Morgan Chase, SEC jurisdiction over swap index (N.D. Ala.), 94:375
– – Mortgage-backed securities, use of false and misleading information

– – – Federal Home Loan Bank of San Francisco suits (Cal. Super. Ct.), 94:619
– – – Federal Home Loan Bank of Seattle suit (W.D. Wash.), 94:433
– – – PMI Securities, union pension fund suit over subprime mortgages (N.D. Cal.), 95:412

– – Mortgage passthrough certificates sold to private equity firms, dismissal of claims against Barclays (5th Cir.), 94:158
– – Operation Broken Trust, 3-month interagency crackdown yields cases against more than 500 individuals, 95:1074
– – Park Ave. Bank, former president guilty plea to attempt to steal TARP funds and other fraud (S.D.N.Y.), 95:699
– – Private civil actions

See LEGISLATION, FEDERAL, HR 5042, S 1551

– – Real estate Ponzi scheme, conviction upheld (D.C. Cir.), 95:66
– – Refco, SIFMA argument against liability of investment banks, law firms, and accounting firms (N.Y.), 95:231
– – Secondary actor liability only for false statements directly attributable at time of dissemination (2d Cir.), 94:880
– – Shorting of collateralized debt obligations by Goldman Sachs but no betting against clients, Cohn testimony, 95:11
– – Southridge Capital Mgmt., state and federal charges against hedge fund investment manager of overvaluing assets (Conn. Super. Ct.), 95:798
– – Statistics, class claims related to financial crisis, 94:72
– – Tribune-related losses, private equity funds' fraud claims against JPMorgan Chase, Merrill Lynch, Citicorp, and BoA (N.Y. Sup. Ct.), 95:849

– Subprime mortgages, Financial Crisis Inquiry Comm'n investigation, 94:272
– Taxation

– – Bank One, attorney and CPA guilty of charges from tax shelter referral fee scheme (S.D.N.Y.), 94:1143
– – Ernst & Young, former partners scheme to market sham tax shelters (S.D.N.Y.), 94:160
– – UBS allegations, IRS withdraws “John Doe” summons, 95:910

FRB

See FEDERAL RESERVE BOARD (FRB)

FSB

See FINANCIAL STABILITY BOARD (FSB)

FSOC

See FINANCIAL STABILITY OVERSIGHT COUNCIL (FSOC)

FTC

See FEDERAL TRADE COMMISSION (FTC)

FUTURES TRADING

– Dodd-Frank Act

– – CFTC breakdown of responsibilities, 95:164; mailboxes for e-mails addressing 29 rulemaking areas, 95:360; CFTC rules in progress, Gensler remarks, 95:463; CFTC agreement on publication of 7 proposals, 95:881
– – IRS guidance, narrow definition likely, 95:1114

– Registration of swap dealers as futures commission merchants, Deutsche Bank objections to proposal, 95:792
– Silver, JPMorgan Chase and HSBC Holdings, alleged use of market position in price manipulation scheme (S.D.N.Y.), 95:1029