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Washington
Inside Washington (06/19/2008)
* WASHINGTON (6/20/08)--A special receivership process for investment banks outside of the bankruptcy process is needed, Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair said in a speech Wednesday. The receivership process should minimize public loss--imposing losses first on shareholders and general creditors--and must allow continuation of any systemically significant operations, she added. Bair noted that the FDIC is equipped to handle a receivership, since the agency has “run a bridge bank” on several occasions. “Housing all receivership and resolution responsibility in a single federal agency may make sense,” she said ... * WASHINGTON (6/20/08)--The Federal Reserve System yesterday announced the nationwide launch of Partnership for Progress, an outreach and technical assistance program for minority-owned institutions. The program includes guidance, workshops, and an online information center. Partnership for Progress provides insight on issues in three stages of a bank’s life cycle: Start a Bank, Manage Transition, and Grow Shareholder Value. Topics covered include credit and interest rate risk, capital and liquidity, and banking regulations. To develop the program, Fed officials met with minority-owned banks across the country to understand the challenges they face ... * WASHINGTON (6/20/08)--National Association of State Credit Union Supervisors (NASCUS) President/CEO Mary Martha Fortney was elected president of the Women in Housing and Finance (WHF) board of directors. She was sworn in for the two-year term yesterday. Fortney has been involved with WHF for more than eight years, serving on the board for three years. She most recently served as president-elect and vice president, and was treasurer for the WHF Foundation board. WHF is an association of women and men who promote women in the fields of financial services and housing through professional enrichment and leadership enhancement ...


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