Investigation of Lincoln Savings & Loan Association: Hearings Before the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred First Congress, First Session ....U.S. Government Printing Office, 1989 |
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Palavras e frases frequentes
1986 examination ACC's accounting acquisition ADC loans affiliated agreed AMCOR American Continental appraisal approval Arthur Andersen assets association's Barclay BARNARD BLACK Board of Directors California CDSL cease and desist Chairman Gray Charles Keating Cirona Committee Common Stock conservatorship Corporation CRAWFORD Darrel deposit Desist Order direct investments Dochow documents Eleventh District enforcement equity risk investments February February 16 Federal Home Loan FHLBank FHLBB FHLBSF FSLIC funds Hinz Home Loan Bank income institution Insurance involved issue junk bonds KANJORSKI Keating Lincoln Savings Loan Association Loan Bank Board losses Luke meeting Memorandum of Understanding million October 31 Office operating options ORPOS Patriarca percent Preferred Stock problem proposed purchase real estate recommendation referrals regulators regulatory request requirement response San Francisco Sanchez Savings and Loan securities Senator staff statement subsidiaries supervision Supervisory Agent TCS Mortgage Texas thrift transactions underwriting violations
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Página 508 - ... internal and independent auditors. 'in addition to the bank and thrift regulators (the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Home Loan Bank Board...
Página 485 - ... institution or closely affiliated with it have, in general terms, breached their fiduciary duties; traded on inside information; usurped opportunities or profits; engaged in self-dealing; or otherwise used the institution for personal advantage. Specific examples of insider abuse include loans to insiders in excess of that allowed by regulation; high-risk speculative ventures; payment of exorbitant dividends at times when the institution is at or near insolvency; payment from institution funds...
Página 676 - SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the bank has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized.
Página 988 - FIRREA abolished the Federal Savings and Loan Insurance Corporation (FSLIC) and the Federal Home Loan Bank Board (FHLBB).
Página 301 - I quote: •One question among the many that have been raised in recent weeks had to do with whether my financial support in any way influenced several political figures to take up my cause. I want to say, in the most forceful way I can, I certainly hope so.
Página 497 - ... excessive and a waste of assets. In response, management paid the individual $350,000 to relinquish his right to future bonuses and increased his salary from $100,000 to $250,000. Extravagant expenditures included trips abroad for thrift officers and their families, ownership of private planes and 21 28 employment of pilots to operate them, and parties costing tens of thousands of dollars.
Página 493 - Board has nevertheless issued various regulations to limit or prohibit certain conflicts of interest to reflect its conclusion that the conflicts so limited or prohibited are especially inimical to the accomplishment of the purposes of title IV.
Página 493 - IV set forth in paragraph (a) of this section and the personal financial interests of directors, officers, and other affiliated persons of insured institutions. Conflicts of this type which have demonstrably resulted in such adverse effects are considered by the Board to be inherently unsafe and unsound practices and conditions. The board accordingly holds that each director, officer, or other affiliated person of an insured institution...
Página 486 - A total of 85 such referrals were oade in regard to 19 of the 26 failed thrifts in our sample. These referrals, which were made primarily by Bank System personnel and filed with the district banks, cite suspected violations of criminal statutes such as false entries, conspiracy, theft, embezzlement , willful misapplication of funds, and fraud.4 Other allegations include falsifying information on loan applications, kickbacks, and bribes. In the 85 referrals, allegations of criminal violations were...
Página 484 - It defined fraud and insider abuse in this manner: 3 "...individuals in a position of trust in the institution or closely affiliated with it have, in general terms, breached their fiduciary duties; traded on inside information; usurped opportunities or profits; engaged in self-dealing; or otherwise used the institution for personal advantage. Specific examples of insider abuse include loans to insiders in excess of that allowed by regulation; high-risk...