Replies to post #140120 on Mr Cooper Group Inc fka COOP

[JimsZ]

Hmmm, look at this statement

Jennifer Kelly, a senior deputy comptroller at the OCC, maintained that, "We have to have banks operate in safe and sound conditions so they can serve their communities. ... We do not close banks that are well capitalized."


They sure did with Washington Mutual Bank & Washington Mutual Bank fsb



Of course in Chicago it was probably a threat to JP Morgan's bottom line so they "take out the competition"


and the EXTORTION FROM THE FDIC

He said the FDIC was obliged to ask the two banks on Oct. 30 to pay a special guarantee fee for banks that are part of holding companies. Because they couldn't pay the fee, Glassman said, the OCC decided to close the banks that day and put them under the FDIC's control. The FDIC sold the nine FBOP banks as a package to Minneapolis-based U.S. Bank, a big regional institution.