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Treasury announces "Making Home Affordable" Program

Alston & Bird LLP
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USA
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March 4 2009

Today, the Treasury Department announced the 'Making Home Affordable' Program (Program

Treasury releases Home Price Decline Protection Incentives

Alston & Bird LLP
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USA
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August 4 2009

On Friday, July 31, 2009, the Treasury Department released Supplemental Directive 09-04 (Directive), Home Affordable Modification Program Home Price Decline Protection Incentives (HPDP), a component of the Home Affordable Modification Program (HAMP

MidFirst Bank assumes deposits of Union Bank N.A. and Community Bank of Arizona

Alston & Bird LLP
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USA
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August 14 2009

Today, as receiver of two failed banks: Union Bank, N.A., and Community Bank of Arizona, the FDIC entered into purchase and assumption agreements with MidFirst Bank, headquartered in Oklahoma City, Oklahoma, to assume the deposits (excluding the brokered deposits from Union Bank, N.A.) of both institutions

Central Bank assumes all deposits of Commerce Bank of Southwest Florida

Alston & Bird LLP
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USA
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November 20 2009

Today, the Florida Office of Financial Regulation closed Commerce Bank of Southwest Florida, headquartered in Fort Meyers, Florida, and the FDIC was appointed as receiver

FDIC creates Deposit Insurance National Bank to facilitate the resolution of Community Bank of Nevada

Alston & Bird LLP
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USA
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August 15 2009

Earlier today, the Nevada Financial Institutions Division ordered the closing of Community Bank of Nevada, headquartered in Las Vegas, Nevada, and the FDIC was named as receiver

MB Financial Bank assumes deposits of Benchmark Bank

Alston & Bird LLP
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USA
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December 7 2009

On Friday, the Illinois Department of Financial and Professional Regulation - Division of Banking closed Benchmark Bank, headquartered in Aurora, Illinois, and the FDIC was named as receiver

Court requires Fed to disclose emergency lending documents

Alston & Bird LLP
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USA
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August 27 2009

On Tuesday, Judge Loretta Preska, Chief Judge in the Southern District of New York, ruled that the Federal Reserve must produce, under the Freedom of Information Act (FOIA), a wide range of documents relating to its exercise of its emergency lending powers

FDIC board issues final statement of policy on qualifications for failed bank acquisitions

Alston & Bird LLP
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USA
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August 28 2009

On Wednesday, the FDIC issued a Final Statement of Policy on Qualifications for Failed Bank Acquisitions ("Final Policy Statement") by private investors seeking to acquire or invest in assets and liabilities of failed banks and thrifts

Pacific Western assumes deposits of Affinity Bank

Alston & Bird LLP
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USA
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August 30 2009

On Friday, the California Department of Financial Institutions closed Affinity Bank, headquartered in Ventura California, and the FDIC was named as receiver