Banking News

Central Pacific Financial Corp. says that the regulatory Consent Order placed on its primary subsidiary, Central Pacific Bank (CPB, "the Bank"), on 11 December, 2009, was terminated by the Federal Deposit Insurance Corporation (FDIC) and the Hawaii Division of Financial Institutions (HDFI) on 11 May, 2011.

The hacking attack on data processor Epsilon, which handles email processing for major companies including banks and retail chains.

The consolidation in the USA's small banks sector continues with the purchase by Fort Worth, Texas, headquartered Carlile Bancshares of two small banks both in Austin, Texas.

Korea's Financial Services Commission has suspended three savings banks (plus subsidiaries of two of them) for six months while attempts are made to rescue them.

We're not sure what it's all about but for some reason Australia's NAB is in the middle of a very public spat with its rivals CommBank, ANZ and Westpac. And it's gone very public and very viral in a matter of hours.

It's official: the USA government inquiry into the genesis of the global financial crisis was due to mis-management by government and its agencies, by the banking industry and by borrowers. At last, someone big enough to be listened to is speaking some sense.

People's United Financial, Inc. the holding company for People's United Bank, and Danvers Bancorp, Inc. (Nasdaq: DNBK), of Danvers, Massachusetts, the holding company for Danversbank have announced a definitive agreement under which People's United Financial will acquire Danvers Bancorp in a 55% stock and 45% cash transaction valued at approximately USD493 million.

Florida Bank Group, Inc. ("FBG"), a Tampa-based holding company and Anderen Financial, Inc. ("AFI"), a Palm Harbor-based bank holding company, say that they have abandoned plans to merge.

Wolters Clewer Law and Business has produced a "white paper" that says that the US congress is giving a high priority to the question of reform of government-sponsored financial enterprises, especially Fannie Mae and Freddie Mac.

11 January 2011 : Urgent question on bonuses: answer by the Chancellor of the Exchequer