Regulator says Ebrahim Shabudin was so "fixated" on protecting United Commercial Bank's reputation that he hid millions of dollars in losses.
Charles Antonucci was convicted of misleading regulators about Park Avenue Bank's capitalization to obtain $11 million in government bailout funds.
“Fraud in the fixed income markets is a secret and unfair tax on investors everywhere,” said a U.S. attorney.
Many community banks now owe TARP dividends to outside investors or have to buy back preferred shares at a premium.
In 2013, the Treasury Department loosened compensation limits for the top 25 executives at GM and Ally Financial. But did it loosen them too much?
Eighty-three percent of the credit unions that received funds through the Community Development Capital Initiative still have not paid back Treasury.
Over the last 30 years, the number of U.S. banks has been cut in half. Regulators don't seem interested in preventing further contraction.
