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Operation Choke Point was also derided in an op-ed in American Banker magazine by William M. Isaac, former chairman of the FDIC.
In 2011, the FDIC released a report titled “Managing Risks in Third-Party Payment Processor Relationships.”
Its two branches were taken over by Ameris and the FDIC made depositors whole to the extent of their insurance.First Rule of the Fake Dead Bankers Club: Stay Gone|Daniel Gross|January 3, 2014|DAILY BEAST
“The proportion of banks that were unprofitable fell to 8.4 percent from 10.6 percent a year earlier,” the FDIC reported.Banks Are Thriving Despite Regulations Thanks to Economic Growth|Daniel Gross|May 30, 2013|DAILY BEAST
Two weeks later, the FDIC seized Washington Mutual and wiped out the bondholders.European Finance Ministers Talk Tough About Bank Bailouts. Does It Matter?|Megan McArdle|March 26, 2013|DAILY BEAST