Tuesday, March 19, 2013

FDIC begins to reveal settlements related to financial crisis

The online posting of previously undisclosed deals comes after a Times story on the regulator's policy of quietly settling claims involving failed banks.  The Federal Deposit Insurance Corp. has begun posting online more than 200 previously undisclosed settlements related to bank failures that accompanied the financial crisis.

The revelations come in response to a Los Angeles Times story last week that examined the FDIC's policy of quietly settling civil claims involving failed banks, sometimes with "no press release" clauses to help bankers avoid embarrassment.

The first three settlements, involving Florida banks that failed in 2008 and 2009, were put online Friday at FDIC.gov. The agency said all such agreements reached from 2007 through 2012 would be posted by the end of the day Monday. Settlements from 2013 were to follow "shortly," with regular updates made thereafter…

Find out more at http://www.latimes.com/business/realestate/la-fi-fdic-settlements-20130319,0,6161684.story

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