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Results: 1-10 of 54

Simmons First National Bank assumes all of the deposits of Security Savings Bank, F.S.B.

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 17 2010

On Friday, the Office of Thrift Supervision closed Security Savings Bank, F.D.B., headquartered in Olathe, Kansas, and appointed the FDIC as receiver

Standard & Poor’s identifies likely European targets and potential U.S. acquirers

  • Alston & Bird LLP
  • -
  • European Union, USA
  • -
  • July 9 2010

In recent weeks, Standard & Poor's Market, Credit, and Risk Strategies (MCRS) group released its findings regarding the likelihood of U.S. companies engaging in mergers and acquisitions in Europe while also identifying possible targets

Providence Bank assumes all of the deposits of Premier Bank

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 17 2010

On Friday, the Missouri Division of Finance closed Premier Bank, headquartered in Jefferson City, Missouri, and appointed the FDIC as receiver

TCF Financial files suit challenging constitutionality of Durbin amendment

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 13 2010

On Tuesday, TCF National Bank, one of the nation's largest debit card issuers, announced that it had filed suit challenging the constitutionality of the so-called "Durbin amendment" to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) "on three separate grounds: the regulations take our property without just compensation and without Due Process of Law; and they also deny us Equal Protection under the law."

Moody's discloses receipt of Wells Notice

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 10 2010

In its Form 10-Q filed late on Friday, Moody's Corporation disclosed that, on March 18, 2010, it "received a 'Wells Notice' from the Staff of the SEC stating that the Staff is considering recommending that the Commission institute administrative and cease-and-desist proceedings against MIS in connection with MIS's initial June 2007 application on SEC Form NRSRO to register as a nationally recognized statistical rating organization under the Credit Rating Agency Reform Act of 2006

Treasury releases completed transactions report showing more CPP transactions

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 11 2009

Yesterday, Treasury released a completed transactions report showing its most recent round of completed funding under the Troubled Asset Relief Program

Geithner: "the financial system is starting to heal"

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 13 2009

In a speech this morning before the Independent Community Bankers of America (ICBA), while acknowledging that "the process of financial recovery and repair is going to take time," Treasury Secretary Geithner cited several key metrics that indicated that "the financial system is starting to heal"

SEC will not appeal proxy access decision; Rule 14a-8 amendments on private ordering to become effective

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 8 2011

Late Tuesday, September 6, 2011, the Securities and Exchange Commission (SEC) Chairman Mary L. Shapiro issued a statement that the SEC would not seek a rehearing of the decision by the United States Court of Appeals for the District of Columbia Circuit vacating the SEC’s recently adopted Rule 14a-11 and related amendments and would not seek Supreme Court review

Northern Trust raises capital to fund repayment of TARP funding

  • Alston & Bird LLP
  • -
  • USA
  • -
  • April 29 2009

Yesterday, Northern Trust Corporation announced the pricing of an underwritten public offering of $750 million of common stock and a simultaneous public offering of $500 million of notes

SEC provides six-month reprieve from ratings disclosure requirements in ABS offerings

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 23 2010

Yesterday, the SEC's Division of Corporation Finance issued a no-action letter providing class relief for asset-backed securities (ABS) issuers from the Regulation AB Item 1103(a)(9) and 1120 requirements that a prospectus for an ABS offering disclose whether an issuance or sale of any class of offered ABS is conditioned on the assignment of a rating by one or more rating agencies and, if so, disclose the minimum credit rating that must be assigned and the identity of each rating agency and any arrangements to have such ratings monitored while the ABS are outstanding