Report: FDIC didn't enforce its own commercial property rules

10/19/2009 | Bloomberg

The Federal Deposit Insurance Corp. allowed at least 20 banks that went on to fail to make commercial real estate loans that exceed what the regulator's own guidelines allowed, the agency's Office of Inspector General found. "It's often we'll see in our reports that the FDIC detected problems in the bank in a timely fashion, but in some cases, forceful corrective action wasn't required by the FDIC to be taken quickly enough," FDIC inspector general Jon Rymer said.

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