Failures

General counsel of failed First NBC pleads guilty to bank fraud

07/02/19

Gregory St. Angelo was part of a loan and tax credits scheme with other senior executives that funneled him more than $50 million, federal prosecutors said.

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First failure since ’17, BB&T’s retention play, demise of JPMorgan’s Finn: Top stories of the week

06/07/19

The Enloe State Bank in Texas becomes the first bank to fail in 17 months; BB&T dangles promise of bonus payments to top executives if they stay; where JPMorgan Chase’s Finn experiment went wrong; and more from this week’s most-read stories.

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Suspicious circumstances in failure of Enloe State Bank

06/03/19

Someone reportedly was burning paper at the Texas bank on a recent Saturday night, and a state regulator cited "insider fraud and abuse" after Enloe was closed.

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First failed bank since 2017 will leave FDIC with hefty price tag

05/31/19

Regulators closed The Enloe State Bank in Texas late Friday, marking the first failure in 17 months and the first in the Lone Star State in over five years.

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FDIC announces new finance chief

05/09/19

Chief Financial Officer Steve App will be succeeded by Bret Edwards, who is now head of the FDIC's division of resolutions and receiverships.

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German megadeal called off; PayPal discloses Venmo user base

04/25/19

Deutsche Bank and Commerzbank end merger talks; the digital money transfer unit has more than 40 million digital users, second only to JPMorgan Chase.

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Will reg relief plan bring back failure-related risks?

04/15/19

Despite consensus that regulators should ease so-called “living will” requirements by some degree, critics charge that a proposal by the Fed and FDIC could undo gains in making large banks easier to resolve.

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CEO of failed credit union says examiner past helped fuel fraud

04/01/19

Edward Rostohar was arrested after his wife informed authorities he stole from CBS Employees Federal Credit Union and was preparing to flee the country.

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PwC reaches $335M settlement on audit of failed bank, admits no guilt

03/15/19

PricewaterhouseCoopers settled a lawsuit in which the FDIC accused it of negligence in its role as external auditor for Colonial Bank. But FDIC board member Martin Gruenberg objected because the firm did not accept blame.

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OCC’s lax oversight compounded costs of thrift failure, IG says

11/08/18

Examiners could have done more to minimize the brunt to the Deposit Insurance Fund from Washington Federal Bank for Savings, which hid fraudulent loans and will cost the fund more than $80 million, according to a report from the Treasury’s inspector general.

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