Banking Department

(redirected from State Banking Department)

Banking Department

A cabinet-level agency of a state government charged with regulating banking in that state. In some states, the banking department also has responsibility over other financial instruments, such as insurance companies.
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Major organization : STATE OF ALABAMA STATE BANKING DEPARTMENT
The new name has received approval by the New York State Banking Department.
The Federal Deposit Insurance Corporation has been appointed receiver of The Bank of Union, El Reno, after the bank was closed by the Oklahoma State Banking Department.
The transactions will allow Amalgamated to surpass the required capital levels agreed with the New York State Banking Department and the FDIC.
The Department of Financial Services was created earlier this year by merging the state banking department and the state department of insurance as part of the 2011-12 budget.
The New York State Banking Department has given Gold Coast Bank a Community Reinvestment Act (CRA) rating of "Outstanding," the highest rating possible.
As co-supervisors of a common institution operating in New York and in the DIFC, the State Banking Department and the DFSA are committed to enhancing co-operation and information sharing in relation to this bank, and any others that may follow in future.
The State Banking Department closed the bank citing ineffective management and inadequate capital as well as a high volume of non-performing loans.
A release issued by the state banking department noted, "It is prohibited for any person knowingly to purchase, sell or transfer a mortgage loan or loan application from or to an entity that is not licensed or exempt from licensing or registration provisions to engage in mortgage broker or lender activities.
The Federal Reserve Banks of San Francisco and New York, and the New York State Banking Department had issued the order on Dec.
The state Banking Department has ordered two mortgage lenders that offer subprime loans to people with weak credit to stop making new loans.
The Federal Reserve Board and the New York State Banking Department announced on October 14, 2005, the execution of a written agreement by and among the Deutsche Bank Trust Company Americas, New York, New York, the Federal Reserve Bank of New York, and the New York State Banking Department.

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