All posts tagged "Fdic"

A Senate Republican gave President Donald Trump's nominee to lead the Federal Deposit Insurance Corporation, or FDIC, a tongue-lashing on Thursday over allegations of widespread misconduct at the agency.

Sen. John Kennedy (R-LA) expressed his annoyance that acting FDIC Chair Travis Hill — who Trump wants to lead the agency permanently — said no changes were underway after an external investigation in 2024 revealed "pervasive sexual harassment and discrimination," according to Politico.

“I have had enough of this, and if your name came up in front of me right now, I wouldn’t vote for you,” Kennedy said to Hill during a Senate Banking Committee hearing. “Got nothing to do with your policy chops, but I have had enough.”...

WASHINGTON (Reuters) - The U.S. banking industry continues to recover from the economic downturn and the 2007-2009 financial crisis, with profits rising over the past year, but the improvement can only continue if lending picks up, the Federal Deposit Insurance Corp said.

WASHINGTON (AFP) – The US government accused three bankers Thursday with reckless mismanagement that led to the country's largest-ever bank collapse during the 2008-2009 home loan crisis.

Over 140 U.S. lenders folded in 2009 alone. To remedy the financial void left in their wake, the Federal Deposit Insurance Corporation wants public pension funds, which safeguard the retirement funds of millions, to buy in part or in whole the banks that couldn't manage to keep their depositors' funds.