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Results: 1-10 of 54

Midland States Bank assumes all of the deposits of WestBridge Bank and trust company
  • Alston & Bird LLP
  • USA
  • October 17 2010

On Friday, the Missouri Division of Finance closed WestBridge Bank, headquartered in Chesterfield, Missouri, and appointed the FDIC as receiver


Repurchases of senior preferred stock held by Treasury: a critical decision for CPP participants
  • Alston & Bird LLP
  • USA
  • May 11 2009

The repurchase of senior preferred stock sold to the U.S. Treasury Department under the Capital Purchase Program (CPP) is coming to the forefront as a critical and possibly unavoidable decision for every banking organization that has participated in the CPP


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


Basel Committee approves higher capital requirements
  • Alston & Bird LLP
  • USA
  • September 12 2010

Today, the Basel Committee on Bank Supervision announced that the Group of Governors and Heads of Supervision (the Committee's oversight body) has approved "a substantial strengthening of existing capital requirements," including an increase in the minimum common equity requirement from 2 to 4.5 and a 2.5 common equity "capital conservation buffer," intended to enhance banks' ability to "withstand future periods off stress" and resulting in an aggregate 7 common equity requirement


Senate adopts two motions to instruct conferees
  • Alston & Bird LLP
  • USA
  • May 25 2010

Yesterday, four days after passing the Wall Street Reform and Consumer Protection Act of 2010, the Senate adopted two motions to instruct Senate conferees


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."


Ex-CEO of Countrywide settles SEC charges
  • Alston & Bird LLP
  • USA
  • October 15 2010

Today, the Securities and Exchange Commission announced that Angelo Mozilo, the former CEO of Countrywide Financial, had agreed to pay a $22.5 million civil penalty and disgorge $45 million of "ill-gotten gains" to settle SEC disclosure and insider trading charges against him and two other former Countrywide officers


House passes bill changing taxation of carried interests
  • Alston & Bird LLP
  • USA
  • May 31 2010

On Friday, by a 215-204 vote, the House passed the 2010 tax extenders bill, H.R. 4213, the American Workers, State, and Business Relief Act of 2010, that would, if also approved by the Senate, significantly change the taxation of carried interests in certain investment partnerships (including hedge funds, venture capital funds and private equity funds, but not certain partnerships controlled by real estate investment trusts


NYSE to propose amendments to Rule 452 to comply with Dodd-Frank Act
  • Alston & Bird LLP
  • USA
  • August 6 2010

Yesterday, the New York Stock Exchange announced that it "intends to file an amendment to NYSE Rule 452 to prohibit members from voting uninstructed shares if the matter to be voted on relates to executive compensation, including 'say-on-pay' proposals, at meetings occurring after July 21, 2010," but that an "exception will be made for those meetings on which the NYSE has issued a 'may vote' ruling prior to July 21


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