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Results: 1-10 of 30

A warning to financial institutions: failure to issue a litigation hold may have serious consequences

  • Frost Brown Todd LLC
  • -
  • USA
  • -
  • May 3 2013

As electronic discovery has become more prevalent and voluminous, national standards for the preservation of evidence have evolved dramatically in

Federal court exercises jurisdiction over insurer’s declaratory judgment action arising out of FDIC demand

  • Wiley Rein LLP
  • -
  • USA
  • -
  • December 17 2012

The United States District Court for the Eastern District of California, applying California law, has concluded that it should exercise jurisdiction under the federal Declaratory Judgment Act to determine the availability of coverage for a written demand and has held that the related coverage action should not be stayed in favor of potential future underlying litigation between the Federal Deposition Insurance Corporation (FDIC) and the insureds because the outcome of the coverage litigation would not be dependent on resolution of disputed facts in such a future action

Georgia bankruptcy court: FDIC may sue officer of failed bank, notwithstanding his bankruptcy, if defense and recovery limited to D&O insurance

  • Wiley Rein LLP
  • -
  • USA
  • -
  • August 28 2012

A Georgia bankruptcy court has held that notwithstanding the discharge of an individual in his individual bankruptcy proceeding, the Federal Deposit Insurance Corporation (FDIC) may file suit against the individual as a former officer of a failed bank so long as the applicable D&O policy covers defense costs and the FDIC’s recovery is limited to insurance proceeds

Financial services legislative and regulatory update - 14 May 2012

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • May 14 2012

What was heading to be a rather routine week of hearings and the continued implementation of Dodd-Frank was shaken by the end of the week news that JP Morgan had a $2 billion dollar trading lost

FDIC issues new rule on mutual insurance holding companies

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • May 7 2012

On April 30th, the FDIC issued a final rule that treats a mutual insurance holding company as an insurance company for purposes of Section 203(e) of the Dodd-Frank Act

FDIC issues proposal regarding enforceability of contracts for systemically important financial institutions

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • March 23 2012

On March 20, the Federal Deposit Insurance Corporation (FDIC) proposed a rule (Proposed Rule), with request for comments, that implements section 210(c)(16) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act or the Act) , which permits the FDIC, as receiver for a financial company whose failure would pose a significant risk to the financial stability of the United States (a covered financial company), to enforce contracts of subsidiaries or affiliates of the covered financial company despite contract clauses that purport to terminate, accelerate, or provide for other remedies based on the insolvency, financial condition or receivership of the covered financial company

Financial services legislative and regulatory update - December 19, 2011

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • December 19 2011

In what now accounts for standard operating procedure, the past week saw a flurry of last minute activity, as the threat of having to stay in Washington, DC for the week before Christmas appeared to provide the leverage necessary for Congress to finish up much of its end of the year business

Federal Deposit Insurance Corporation and Treasury Department issue proposed rules for calculation of maximum obligation limitation under Dodd-Frank

  • Williams Mullen
  • -
  • USA
  • -
  • December 16 2011

On Friday, November 25, 2011, the Federal Deposit Insurance Corporation (the “FDIC”) and the Department of the Treasury (“Treasury”) issued joint proposed rules to implement the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Act”

Standing out in the crowd

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • December 6 2011

Pursuant to Section 113 of Dodd-Frank aimed at avoiding a repeat of the Lehman Brothers collapse in September 2008, the Federal Stability Oversight Council (“FSOC”) issued a proposed rule establishing a three-stage analysis for identifying non-bank systemically important financial institutions

Picard lawsuit against JPMorgan dismissed

  • Sedgwick LLP
  • -
  • USA
  • -
  • November 30 2011

Irving Picard's lawsuit against JPMorgan Chase & Co. styled Picard v. JPMorgan Chase & Co., 11-cv-913, in the U.S. District Court, Southern District of New York, was dismissed on November 1, 2011

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