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Washington
Inside Washington (02/27/2012)
  • WASHINGTON (2/28/12)--The Federal Deposit Insurance Corp.'s (FDIC's) Quarterly Banking Profile for the fourth quarter of 2011 is due out tomorrow and it also will include the banking and thrift  industry's full 2011 earnings. The third-quarter report, released in November, announced institutions' earning of $35.3 billion in the third quarter--a 50% jump from a year earlier.  Much of the dramatic rise was attributed to lower loss provisions. (American Banker Feb. 27) There will be an FDIC briefing today at 10 a.m. (ET) on the quarterly figures, which will include a statement from acting FDIC Chairman Martin Gruenberg, followed by a question-and-answer period with agency staff. …
  • WASHINGTON (2/28/12)--The U.S. Small Business Administration (SBA) has raised the size definitions of small businesses in the transportation and warehousing sector. The final rule will increase the revenue-based size standards in 22 industries and retain the current size standards for the remaining 37 industries in the sector.  The SBA estimates as many as 1,200 additional firms in this sector will become eligible for SBA programs as a result of these revisions.  The agency also has proposed a rule to increase the size standards for the health care and social assistance sector. The plan would increase the small business size standards for 28 industries in that sector, and as many as 4,100 additional firms could become eligible for SBA's programs and services if the proposed increases are adopted, according to the SBA. …
  • WASHINGTON (2/28/12)--It appears that continued pressure from consumer groups, and perhaps from state and federal officials, may be working to bring the opinion of the Office of the Comptroller of the Currency (OCC) more into alignment with the aforementioned parties and the Federal Reserve Board regarding whether borrowers who have received compensation from a mortgage servicer under the $25 billion settlement should have waive any rights to future legal action. The OCC has maintained that there may be some situations where a borrower should be required to waive legal rights as a condition of compensation under the independent foreclosure review being conducted by the 14 largest servicers. The Fed generally has been opposed to such releases. An article in the Feb. 27 issue of American Banker reported that a person involved in the process of building the remediation framework said borrowers would retain the right to sue mortgage servicers even under the $25 billion mortgage servicers' settlement. …


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