In a comment letter to the FDIC today, the American Bankers Association offered its full support for a recent proposal that would rescind Part 350 from the Code of Federal Regulations, removing an annual disclosure requirement that was duplicated by data publicly available on the FDIC’s website. The 1987 requirement called for FDIC-insured state non-member banks and foreign branches, but not state thrifts, to prepare annual disclosures of Call Report and other data.
FDIC posts sample docs to provide clarity into marketing, sale process of failing banks
Eleven new sample documents were released, covering franchise sales and loan pools, including purchase and assumption agreements, confidentiality agreements and financing terms.
