October 29, 1987 |
The government's two top bank regulators testified Wednesday that despite recent turmoil in the stock markets, Congress should withdraw the 54-year-old provision of law barring banks from entering the securities business and underwriting investments. Last week's market free fall had stirred skepticism about bank deregulation. Questions were raised anew about whether commercial banks should be allowed a wider role in the risky business of buying and selling securities.
April 12, 1991 |
Congress should bar banks from making loans on raw land and insist that developers bear 25% of the cost of real estate projects before they can get bank financing, Federal Deposit Insurance Corp. Chairman L. William Seidman said Thursday.
March 21, 1989 |
House Speaker Jim Wright (D-Tex.) put improper pressure on a federal bank regulator to assist troubled Texas savings and loan associations in the mid-1980s, L. William Seidman, chairman of the Federal Deposit Insurance Corp., said Monday. Seidman, speaking to reporters at a luncheon, said that Wright went beyond normal congressional limits in representing constituents' interests in his dealings with Edwin J.
October 13, 1989 |
The House Banking Committee, scheduled to begin hearings next week on the massive failure of Irvine-based Lincoln Savings & Loan, voted Thursday to subpoena Charles H. Keating Jr., chairman of Lincoln's parent company. The committee also agreed to issue subpoenas for 25 other witnesses, including L. William Seidman, chairman of the Federal Deposit Insurance Corp.; M.
December 12, 1990 |
The nation's worsening banking crisis is taking a heavier than expected toll on the government's deposit insurance fund this year, with losses soaring to an estimated $4 billion, the Federal Deposit Insurance Corp. reported Tuesday. FDIC Chairman L. William Seidman said Tuesday that his agency's estimate of the deposit insurance fund's 1990 losses because of bank failures has increased 33% in just the past three months.
May 5, 1990 |
The government's portfolio of real estate from seized savings and loan associations is $16 billion and growing rapidly, but only $2 billion in property has been sold so far, S&L bailout chief L. William Seidman told Congress on Friday. The shopping centers, office buildings, homes and condominiums must be sold quickly because it costs the government about 10% a year to hold them, Seidman said.
June 22, 1991 |
With official cost projections for the savings and loan bailout rising, congressional pressure intensified Friday for restructuring the Resolution Trust Corp., the agency charged with cleaning up the thrift industry. At the same time, L. William Seidman, chairman of the Federal Deposit Insurance Corp.
March 9, 1989 |
The nation's chief bank regulator, Federal Deposit Insurance Corp. Chairman L. William Seidman, complained Wednesday that his agency's political and financial independence would be curtailed by the Administration's savings and loan rescue plan. Seidman, whose agency has been given supervisory authority to seize and run insolvent S&Ls during the current crisis in the savings and loan industry, fears that the proposed legislation could interfere with the FDIC's tough regulatory stance.
October 26, 1989 |
Key federal financial regulators clashed Wednesday over the amount of capital needed to keep banks and savings and loan associations out of fiscal trouble. Federal Deposit Insurance Corp. Chairman L. William Seidman, who oversees state-chartered banks and the rescue of insolvent S&Ls, wants a capital reserve equal to 6% of the loans provided by the institutions. But Comptroller of the Currency Robert L.
August 3, 1990 |
The Federal Deposit Insurance Corp. erred when it cleared a controversial Arizona businessman to buy a failed Oklahoma bank three years ago and is investigating to see whether any wrongdoing was involved, FDIC Chairman L. William Seidman said Thursday. Seidman told the Senate Banking, Housing and Urban Affairs Committee that he has instructed his agency's inspector general "to investigate whether it was just a mistake or something worse" when James M.