Mr Cooper Group Inc (COOP)

[Nightdaytrader]

Whatever happened to FDIC rule preventing JPM Chase from buying WMIH?

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Restrictions on Sale of Assets by the Federal Deposit Insurance Corporation

https://www.federalregister.gov/articles/2014/10/24/2014-25337/restrictions-on-sale-of-assets-by-the-federal-deposit-insurance-corporation

A Proposed Rule by the Federal Deposit Insurance Corporation on 10/24/2014
Action

Notice Of Proposed Rulemaking.

Summary

The Federal Deposit Insurance Corporation (FDIC) is proposing to amend our regulations. Part 340 implements section 11(p) of the Federal Deposit Insurance Act. Under section 11(p), individuals or entities whose acts or omissions have, or may have, contributed to the failure of an insured depository institution cannot buy the assets of that failed insured depository institution from the FDIC. The proposed revisions to part 340 will help to clarify its purpose, scope and applicability, and will make it more consistent in our regulations, the parallel provision in the FDIC's Orderly Liquidation Authority regulations that implements section 210(r) of the Dodd-Frank Wall Street Reform and Consumer Protection Act by placing restrictions on sales of assets of a covered financial company by the FDIC. Sections of part 340 became effective on July 1, 2014

Table of Contents Back to Top

DATES:
ADDRESSES:
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION:
I. Background
II. Proposal
III. Request for Comments
IV. Regulatory Analysis and Procedure
A. Paperwork Reduction Act
B. Regulatory Flexibility Act
C. Plain Language
Text of the Proposed Rule
Federal Deposit Insurance Corporation
List of Subjects in 12 CFR Part 340
Authority and Issuance
PART 340—RESTRICTIONS ON SALE OF ASSETS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION

DATES: Back to Top

Written comments must be received by the FDIC not later than December 23, 2014.
ADDRESSES: Back to Top

You may submit comments by any of the following methods:
Agency Web site: http://www.fdic.gov/regulations/laws/federal/. Follow instructions for submitting comments on the Agency Web site.

E-Mail: [e-mail]. Include “RIN 3064-AE26” in the subject line of the message.

Mail: Robert E. Feldman, Executive Secretary, Attention: Comments, Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, DC 20429.

Hand Delivery/Courier: Guard station at the rear of the 550 17th Street Building (located on F Street) on business days between 7 a.m. and 5 p.m. (EDT).

Federal eRulemaking Portal: http://www.regulations.gov/. Follow the instructions for submitting comments.
Public Inspection: All comments received will be posted without change to http://www.fdic.gov/regulations/laws/federal/ including any personal information provided. Paper copies of public comments may be ordered from the Public Information Center by telephone at 703-562-2200 or 1-877-275-3342.