All Blog Posts Tagged 'fdic' (6)

Striking a Balance

In the throes of the credit crisis, banks were vilified for granting loans to unworthy borrowers. The unsurprising result: Banks pulled back. They revamped risk-management policies and clamped down on credit.

Now, it seems, banks are being hammered again — this time, for being too vigilant with credit. At a conference of the National Association of Business Economists yesterday, FDIC chief Sheila Bair warned that tight credit could hamper economic recovery.

"A light needs… Continue

Added by Marcie Belles on March 9, 2010 at 12:00pm — 1 Comment

FDIC Deputy Dismisses Lighter Risk Mandates for Non-Mortgage Assets

WASHINGTON, D.C. — Issuers of auto loan-backed securitizations will likely have to adhere to the same risk-retention requirements as issuers of other asset classes — even subprime mortgage — said Michael Krimminger, deputy to the chairman for policy of the Federal Deposit Insurance Corp.

Krimminger’s comments came during a session at the American Securitization Forum’s annual conference last month, in response to a question from fellow panelist Lawrence Rubenstein, general counsel… Continue

Added by Marcie Belles on March 9, 2010 at 11:50am — No Comments

Tracking the Underbanked

More than one quarter of U.S. households — equal to about 60 million people — are unbanked or underbanked, according to a survey by the Federal Insurance Deposit Corp.

Specifically, 7.7% of households, or 17 million adults, nationwide were unbanked. Another 17.9% — 43 million adults — were found to be underbanked.

Households were identified as unbanked if they answered "no" to the question: "Do you or does anyone in your household currently have a checking or savings… Continue

Added by Marcie Belles on December 10, 2009 at 12:30pm — 1 Comment

GMAC Bangs Heads With the FDIC

GMAC and the FDIC appear to be at loggerheads over auto finance.

According to an article in today's Wall Street Journal, GMAC and the FDIC have been battling over GMAC's auto finance business. An excerpt from the article:

The FDIC also was cool to GMAC's desire to expand its auto lending by reaching out to consumers with lower credit…

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Added by JJ Hornblass on November 2, 2009 at 10:30am — 8 Comments

Fresh Funds for GMAC

After failing a bank “stress test” in May, GMAC was given six months to raise $11.5 billion. Looks like as much as nearly half that money may come from the federal government.

Apparently, GMAC is in advanced talks with the Treasury Department for another cash infusion — this time, as much as $5.6 billion, according to the Wall Street Journal. (The amount could… Continue

Added by Marcie Belles on October 28, 2009 at 12:30pm — 3 Comments

Liquidity Programs Start Looking Good to Investors

Like a steak that had been too rare and is now looking scrumptious, the new Public-Private Investment Program (PPIP) from the Treasury Department is starting to look awfully enticing to fixed-income investors. Which is exactly how the federal government likes it.

The PPIP has two parts: a legacy loan program and the legacy securities program. The legacy loan program is being administered through the FDIC (see… Continue

Added by JJ Hornblass on March 23, 2009 at 1:24pm — 1 Comment