FDIC News

Lloyd’s Evades $3M in Judgment Interest Because FDIC Waited Too Long to Collect

Lloyd’s of London does not have to pay the U.S. government’s Federal Deposit Insurance Corp. $3 million in judgment interest because the FDIC waited too long —18 months after a final judgment — to try to collect it. The action …

Bankers Escape Big Penalties in FDIC Failed Bank Cases

Like many banks engulfed by the mortgage crisis, First National Bank of Nevada specialized in risky home loans that didn’t require borrowers to prove their incomes. When the housing bubble burst, First National got crushed in 2008 under the weight …

FDIC Sues 17 Ex-Directors of Failed Atlanta Bank

Federal bank regulators have sued 17 former directors and officers of Silverton Bank, accusing them of gross negligence and corporate waste. The Federal Deposit Insurance Corp. accuses the Atlanta bank in the lawsuit filed Monday of slipshod lending practices and …