* WASHINGTON (12/22/08)--President-elect Barack Obama’s pick of Daniel Tarullo--a Georgetown University Law School professor and Clinton administration veteran--to the Federal Reserve Board could help the central bank learn more about the financial services industry’s challenges, observers say (American Banker
Dec. 19). The Senate has yet to confirm Tarullo’s position. Tarullo’s academic and policy work on financial regulation has generated ideas to helping solve the financial crisis, Obama said. One of Tarullo’s priorities is Basel II, which began implementation this year. Prior to working as a Georgetown professor, Tarullo served as assistant secretary of state for economic and business fairs, assistant to the president for international economic policy and deputy assistant to the president for economic policy during the Clinton years ... * WASHINGTON (12/22/08)--Maxxam Inc., a Texas conglomerate, has settled with the Federal Deposit Insurance Corp. (FDIC). The FDIC has paid Maxxam $10 mllion over a dispute involving a failed thrift and redwood trees (American Banker
Dec. 19). The FDIC argued that Maxxam’s CEO, Charles Hurwitz, was at fault for the collapse of United Savings Association of Texas in 1989. Hurwitz was a partial owner of the thrift ... * ALEXANDRIA, Va. (12/22/08)--
National Credit Union Administration (NCUA) Chairman Michael E. Fryzel met with Pennsylvania Credit Union Association (PCUA) President/CEO Jim McCormack before the December NCUA board meeting Thursday, said the PCUA. From left are Fryzel, McCormack and PCUA General Counsel Rick Wargo. (Photo provided by the Pennsylvania Credit Union Association) ... * WASHINGTON (12/22/08)--The Federal Reserve Board Thursday published its annual notice of the asset-size exemption threshold for depository institutions under Regulation C, which implements the Home Mortgage Disclosure Act. The asset-size exemption for depository institutions will increase from $37 million to $39 million based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers for the twelve-month period ending November 2008. Depository institutions with assets of $39 million or less as of Dec. 31 are exempt from collecting data. The adjustment is effective Jan. 1 ... * WASHINGTON (12/22/08)--The Federal Deposit Insurance Corp. released its third quarter state banking profiles.
The profiles detail economic conditions for each state, including employment growth rates, banking trends, loan concentrations and other data ...