Flagstar Announces Lifting of Federal Reserve Supervisory Agreement
Flagstar Bancorp, Inc. (FBC)
Last flagstar bancorp, inc. earnings: 4/28 06:30 am
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US:NYSE Investor Relations:
flagstar.com/about-flagstar.html
Company Research
Source: PR Newswire
TROY, Mich., Aug. 16, 2018 /PRNewswire/ -- Flagstar Bancorp, Inc. (NYSE: FBC) (the "Company") announced that effective August 14, 2018, the Federal Reserve (Fed) has lifted its Supervisory Agreement with the Company.The Supervisory Agreement (originally dated January 27, 2010) included a number of provisions, including requirements to submit a capital plan annually and receive written non-objection from the Fed before paying a dividend or repurchasing stock, incurring or renewing holding company debt or engaging in affiliate transactions."This is a major milestone for our company, representing the last major regulatory issue with the old Flagstar," said Alessandro P. DiNello, president and chief executive officer. "This action reflects our successful effort in building a strong financial institution that can deliver solid results within the framework of a strong risk and compliance structure. The lifting of the agreement ushers in a new era for our holding company, providing more flex
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