A recent failed-bank resolution in Europe may serve as a harbinger of how new authorities could cause problems in the U.S. and highlights the potential need for a modified bankruptcy process.
Banco Santander stepped in to take over stricken rival Banco Popular Espanol in a deal brokered by regulators that imposes billions of losses on investors.
The acquirer of the failed Milwaukee bank passed on assuming control of 107 in-store locations, but drawing a sweeping conclusion about the state of in-store banking from one story is difficult.
The acquirer of the failed Guaranty Bank took a pass on the latter’s 107 in-store branches, leading to their shutdown and a disruption in service for many low-income customers.
The top executives at Guaranty Bank said that, after years of struggles, the $1 billion-asset bank was a month or two away from raising the capital it needed to survive.
As Treasury Department officials review the Financial Stability Oversight Council’s designation process, they should also reexamine how the Dodd-Frank Act defines systemic risk.
Entegra Financial disclosed that it held First NBC subordinated debt. An impairment charge tied to the bank's failure will lower Entegra's first-quarter results by $441,000.
