During an attempt to rescue South Side lender ShoreBank last year, Federal Deposit Insurance Corp. Chairman Sheila Bair called Wall Street banks soliciting investments in the bank, but a new report by the FDIC’s inspector general concluded the intervention wasn’t inappropriate. The report, released Thursday, also disclosed that the estimated loss to the FDIC’s insurance fund from ShoreBank’s failure has grown substantially since its August failure, standing at $452 million. Get the full story>>
Inside these posts: Sheila Bair
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FDIC’s Bair sees bank structural changes
Large financial institutions may need to make significant and potentially costly structural changes to comply with new U.S. “living will” requirements, bank regulator Sheila Bair said on Monday. Get the full story »
FDIC’s Bair urges support for deficit reduction
Excessive borrowing by the U.S. government poses a “clear danger” to the country’s long-term financial stability, the chairman of the Federal Deposit Insurance Corp. wrote Friday, and “urgent action” is needed to head off another financial crisis. Get the full story »
