Editors' picks for the week includea blog post on the current expected credit loss model and a feature on the nominationof John Herrera to the NCUA board.
A FederalReserve official says regulators will rely heavily on common sense as they workto ensure community banks comply with a major shift in loan-loss accounting, anda study by Fed economists concludes that examiners have a history of providing smalllenders necessary latitude in their efforts to meet accounting standards.
FDICstaff tried to cover up a series of internal data breaches and misled Congress onthe status of some of those breaches, Republican lawmakers said at a House Science,Space and Technology Committee hearing July 14.
JasonDiNapoli, president and CEO of 1st Century Bank in Los Angeles, says that with thebacking of a new and much larger owner, the community lender is determined to growextensively over the next few years.
The calendarand political gamesmanship could conspire to keep the most recent nominee to theNational Credit Union Administration board from being confirmed anytime soon.
The formerparent of failed Seattle-based WashingtonFirst International Bank filed a Chapter 11 liquidation plan that wouldpartially reimburse the FDIC for losses associated with past participation in theTemporary Liquidity Guarantee Program.