Articles by E. Scott Reckard

The Federal Deposit Insurance Corp.’s program to lower loan payments for struggling borrowers with mortgages from IndyMac Bank has been lauded by consumer advocates and government leaders as a model of foreclosure prevention.But when the FDIC, which is running IndyMac, mailed out 35,000 letters offering homeowners a chance to rework the terms of their mortgages, more than half the borrowers were apparently so discouraged, scared or stressed out that they didn’t bother to respond.”Anecdotall Read more

Proving size is no obstacle when the government wants to stimulate lending, a one-branch bank in Orange County’s Little Saigon has obtained a $1.2-million investment from the U.S. Treasury Department. Read more

With calls growing for stronger action to help troubled homeowners, consumer advocates are hailing a mortgage-modification program being implemented by Bank of America Corp.’s Countrywide unit as the most ambitious effort yet to avert foreclosures. Read more

Wachovia Corp. Read more

The Federal Deposit Insurance Corp. Read more

By flooding the U.S. banking system with hundreds of billions of dollars in cheap capital, the government could find itself funding the most dramatic change in the nation’s financial landscape since the deregulation drive of the 1980s. Read more

It’s not just giant banks on the brink these days: Losses are clobbering nonprofit credit unions that have strayed from their conservative heritage or whose members have been pulled into economic downdrafts. Read more

The government-run National Credit Union Share Insurance Fund insures most deposits at credit unions, just as the Federal Deposit Insurance Corp. Read more

A Folsom Prison inmate who claims to have supplied drugs to Broadcom Corp. Read more