On Friday, the Illinois Department of Financial and Professional Regulation, Division of Banking closed Ravenswood Bank, headquartered in Chicago, Illinois, and appointed the FDIC as receiver for the bank.
Last week, the Federal Trade Commission announcedamendments to the Telemarketing Sales Rule (TSR) relating to the telemarketing of debt relief services, including new restrictions on advance fees charged by debt relief companies.
Yesterday, the Special Inspector General for the Trouble Asset Relief Program (SIGTARP) released a report criticizing the Treasury Department’s role in the accelerated closure of hundreds of GM and Chrysler dealerships.
On Tuesday, the Bank of Spain released details regarding the status of the restructuring of the Spanish savings bank sector, in what it called “the biggest overhaul of the Spanish banking sector in recent history.” The Bank also provided details regarding funding for bank restructurings supplied by the Fund for the Orderly Restructuring of the Banking Sector (FROB),
Today, the Board of the Federal Deposit Insurance Corporation took the following actions:
Yesterday, the Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico closed Westernbank Puerto Rico, headquartered in Mayaguez, Puerto Rico, and the FDIC was appointed receiver.
Yesterday, the Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico closed R-G Premier Bank of Puerto Rico, headquartered in Hato Rey, Puerto Rico, and the FDIC was appointed receiver.
Yesterday, the Washington Department of Financial Institutions closed Frontier Bank, headquartered in Everett, Washington, and appointed the FDIC receiver.
Yesterday, the Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico closed Eurobank, headquartered in San Juan, Puerto Rico, and the FDIC was appointed receiver.
Yesterday, the Office of the Comptroller of the Currency closed BC National Banks, headquartered in Butler, Missouri, and appointed the FDIC receiver.