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U.S. regulators

U.S. weighs fines for tarmac delays

Sun, 11/07/2010 - 00:38 by Pankaj Damin

Chicago -- U.S. regulators say they will decide whether to fine United Airlines up to $27,500 per passenger for leaving passengers in idling planes more than three hours.

Chicago-based United operated four of the five U.S. flights delayed in May beyond the new limit on tarmac time set by the U.S. Department of Transportation, the Chicago Tribune reported.

Delta Air Lines operated the fifth flight, which took off from Atlanta 2 minutes after the three-hour cutoff point, federal data indicated.

The United delays occurred May 26 after thunderstorms halted take-offs and landings at Denver International Airport, United spokeswoman Jean Medina said. Tarmac delays for the four flights ranged from 3 hours, 10 minutes to 4 hours, 41 minutes, DOT data indicated.

FDIC sets purchase rules for equity firms

Thu, 27/08/2009 - 03:41 by surajdogra

Washington -- Private equity firms seeking to buy failed banks will need to partner with existing banks to avoid tough requirements, U.S. regulators decided Wednesday.

The Federal Deposit Insurance Corp. board voted 4-1 to establish stringent ground rules by which board members hope to attract more private capital to the struggling institutions while at the same time protecting taxpayers, the business news Web site Marketwatch reported.

U.S. thrifts post first profit since 2007

Thu, 27/08/2009 - 00:06 by surajdogra

Washington -- The U.S. thrift industry has posted its first profit since the third quarter of 2007, U.S. regulators said Wednesday.

The Office of Thrift Supervision said in a release the industry's $4 million profit in second quarter of 2009, while small, is positive indicator for the future.

"Although significant challenges lie ahead, thrift managers are making progress toward positioning their institutions for a positive future," Acting OTS Director John Bowman said.

Bowman noted that thrifts' capital ratios improved during the quarter, while
higher net interest margins and increased fee income contributed to the improved profitability.

Bailouts complicate regulator's roles

Tue, 04/08/2009 - 21:43 by surajdogra

Washington -- The precarious position of some financial firms and the addition of government aid has complicated the role of U.S. regulators, securities law experts said.

The Securities and Exchange Commission, by example, extracted a $33 million fine from Bank of America this week, which directly hurts investors -- one of which is the United States government.

"Normally, the SEC's focus is the protection of investors," James Cox, a Duke University law professor told The Washington Post Tuesday. "With the government being a substantial stakeholder," he said, "you could well think the SEC's considerations ... relate to the financial success of the firm."