William Byrnes' Tax, Wealth, and Risk Intelligence

William Byrnes (Texas A&M) tax & compliance articles

Posts Tagged ‘FDIC’

The FDIC Wants to Sell You a Failing Bank – Interested?

Posted by William Byrnes on January 20, 2015

The FDIC has opened an online market place to dispose of failing banks — read about it at International Financial Law Prof Blog.

The ability to bid applies to FDIC-insured financial institutions of any size that may be interested in acquiring a failing institution from the FDIC.

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FDIC Forces Merrick Bank To Stop Deceptive Payment Protection Credit Card Practices

Posted by William Byrnes on October 1, 2014

International Financial Law Prof Blog.

The Bank marketed the “PAYS Plan,” a payment protection credit card add-on product that was sold from 2008 to 2013 to consumers who had a Bank credit card. The PAYS Plan provided a benefit payment towards a consumer’s monthly credit card payment following certain life events such as involuntary unemployment, disability, and hospitalization.

The FDIC determined that the Bank violated federal law prohibiting unfair and deceptive practices by, among other things: …

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