FDIC Secretly Settling Bank Cases For Years With 'No Press Release' Clause: Report

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FDIC Secretly Settling Bank Cases For Years With ‘No Press Release’ Clause: Report

FDIC Secretly Settling Bank Cases For Years With ‘No Press Release’ Clause: Report

Nothing to see here just more favors given to the bankers.

But…

NOW it begs to ask if there really is such a NOT for Public release of a SECRET 118 Page Purchase and Assumption Agreement for Washington Mutual Bank between the  FDIC & JPMorgan Chase Bank that was uncovered in Testimony of Jeffrey Thorne??

HuffPO-

At the request of rule-breaking bankers, a top U.S. regulator has for years settled bank cases in secret, raising the bar on just how far regulators are willing to go to help the industry they regulate.

The Federal Deposit Insurance Corp., which insures bank deposits in the U.S. and shuts down failing banks, has since 2007 repeatedly settled charges of banker wrongdoing by agreeing to “no press release” clauses that keep the settlements a secret, the Los Angeles Times reports.

In one particularly glaring example, Deutsche Bank agreed to pay $54 million to quietly settle charges that its New York mortgage-banking subsidiary, MortgageIT, sold bad loans to another mortgage bank, Independent National Mortgage Corporation, a/k/a “IndyMac.” IndyMac collapsed under the weight of bad mortgage loans in July 2008, a notable milestone in the financial crisis.

[HUFFINGTON POST]

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