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News Now

Washington
Inside Washington (06/24/2010)
* WASHINGTON (6/25/10)--Reps. Judy Biggert (R-Ill.) and Darrell Issa (R-Calif.) won the adoption of an amendment to the regulatory reform bill Wednesday that would require the inspector general of the Federal Deposit Insurance Corp. (FDIC) to investigate whether political pressure was involved with securing private-sector assistance for troubled banks. The amendment targets Chicago-based ShoreBank, which secured $140 million of private investments in May. The FDIC and the Illinois Department of Financial and Professional Regulation issued a cease-and-desist order against the bank in July. It is unknown whether the Senate will support it, said American Banker (June 24) ... * WASHINGTON (6/25/10)--The Federal Reserve, the Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency Thursday issued the host state loan-to-deposit ratios that the banking agencies will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios update data released on June 29, 2009. In general, section 109 prohibits a bank from establishing or acquiring a branch or branches outside of its home state primarily for the purpose of deposit production. Section 109 also prohibits branches of banks controlled by out-of-state bank holding companies from operating primarily for the purpose of deposit production ...


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