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March 20, 2014 - Industry News

Evergreen Bank Moves to Flat Fees Due to Regulatory Pressures

Earlier this month, Evergreen Bank Group issued a statement about its decision to move to a flat fee pricing model. The move was in response to a low FDIC rating and alleged violations of the ECOA.

Tags: CFPB, Consumer Financial Protection Bureau, discrimination, Equal Credit Opportunity Act (ECOA), FDIC, Indirect Lending

September 14, 2012 - Industry News

FDIC Releases National Survey of Unbanked and Under-banked

More than one in four U.S. households are either unbanked or under-banked, a new survey conducted by the FDIC shows.

Tags: FDIC, unbanked, under-banked

June 12, 2012 - Industry News

Federal Agencies to Coordinate Regulatory Efforts

Five federal supervisory agencies signed a memorandum of understanding that clarifies how the agencies will coordinate their supervisory activities under the Dodd-Frank Act.

Tags: CFPB, consumer protection, Dodd-Frank Act, FDIC, MOU, National Credit Union Administration

August 31, 2010 - Industry News

FDIC: Reduced Loan-Loss Provisions Push Bank Earnings to Three-Year High

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported an aggregate profit of $21.6 billion in the second quarter of 2010, a $26 billion improvement from the $4.4 billion net loss the industry posted in the second quarter of 2009.

Tags: Delinquencies, FDIC, loan-loss provisions, loan-loss reserves

October 28, 2009 - Industry News

GMAC Shoring Up Capital Position Ahead of Regulatory Deadline

An insider confirmed on Wednesday reports that GMAC Financial Services Inc. is in discussions with the U.S. Treasury Department for a third-round of taxpayer-backed funding – one of two moves the auto finance company made this week to shore up its capital position ahead of an impending regulatory deadline.

Tags: Chrysler, FDIC, GMAC Financial Services, Treasury Department

June 30, 2009 - Industry News

GMAC ‘Working Aggressively’ to Support Chrysler Dealers

Responding to reports that it suspended wholesale financing for some of the roughly 2,400 surviving Chrysler dealers, GMAC Financial Services said on Friday that it is “working aggressively” to support the Chrysler dealer body at large.

Tags: Chrysler, FDIC, GMAC Financial Services

June 3, 2009 - Industry News

GMAC Offers $4.5 Billion of Guaranteed Debt

GMAC Financial Services announced last Friday that it has priced an offering for $4.5 billion of debt guaranteed by the Federal Deposit Insurance Corporation (FDIC), pursuant to the FDIC Temporary Liquidity Guarantee Program (TLGP).

Tags: FDIC, GMAC Financial Services, SEC

May 21, 2009 - Industry News

GMAC Financial Services Gets $7.5 Billion From U.S. Treasury

GMAC Financial Services announced Thursday that it will receive $7.5 billion from the U.S. Department of the Treasury, as well as other key actions that will significantly improve the company's capital position and access to liquidity.

Tags: Chrysler, FDIC, Federal Reserve, GMAC Financial Services

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