Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (10/25/2011)
  • WASHINGTON (10/26/11)--Colorado's state banking commissioner Fred Joseph said he disagreed with federal regulators' decision to shut down $1.38 billion-asset Community Banks of Colorado. The Federal Reserve Board Friday for the first time used special powers in shutting down the Colorado bank. The central bank appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for the state-chartered bank. The Fed had never before used its authority to close a state-chartered bank, a role normally reserved for state-regulators. Joseph said he would have allowed the bank to sell branches and provided it with more time to solve its capitalization problems. Community Banks had agreed to sell 16 of its 40 branches to Boston-based NBH Holdings Corp. The FDIC opposed the sale. Joseph said. V. Gerard Comizio, a partner at Paul, Hastings, Janofsky & Walker, LLP, described the situation as an instance in which a state regulator sought to prevent a bank under his jurisdiction from failing …


RSS print
News Now LiveWire
The Hill reports House Republicans plan to delay Aug. recess to stay in D.C. until they have enough votes to pass bill on border crisis.
5 hours ago
The FHLBs of Des Moines and Seattle announce they have entered into an exclusivity arrangement regarding potential merger of the 2 entities.
5 hours ago
SunCorp and @AlloyaCorp have announced their intent to merge.
8 hours ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI. http://t.co/owtVnPxVZT
8 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
10 hours ago