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Slavie Savings boosts capital ratios
Slavie Federal Savings Bank, of Bel Air, reported Friday on steps it is taking to boost its capital position and lessen its risk exposure, pursuant to an agreement it signed in July with federal banking regulators. To meet minimum capital requirements that take effect on Sept. 30, 2012, the bank has committed to reach and […]
Md. regulators wrap up public hearings on storm
WASHINGTON — The Maryland Public Service Commission has wrapped up the last of eight public hearings on electric companies’ handling of a June storm known as a derecho that caused outages for days. WTOP-FM radio station in Washington reports that Wednesday night’s hearing at the Charles County Government Building in La Plata was the last […]
USDA eyes whether tainted beef entered food supply
FRESNO, Calif. — Federal regulators who shut down a Central California slaughterhouse after receiving an animal welfare video were investigating Tuesday whether beef from sick cows reached the human food supply. The video appears to show workers bungling the slaughter of cows struggling to walk and even stand. Under federal regulations, sick animals cannot be […]
Prices for private insurers could be raised
Maryland hospitals and regulators are discussing raising hospital prices for private insurers and businesses by hundreds of millions of dollars a year to make up for suggested cuts from Medicare and Medicaid. A proposal by the Maryland Hospital Association circulated to policymakers in recent weeks details a plan to shift costs to private payers by […]
State’s biggest credit union gets merger OK
Members and regulators have approved a merger of SECU, Maryland’s largest state-chartered credit union, and the Anne Arundel County Employees Federal Credit Union, the credit unions announced Tuesday. SECU, with about 220,000 members and more than $2.2 billion in assets, is scheduled to officially acquire the 14,000-member, $85.9 million AACE FCU in August. SECU’s members […]
Facebook raises IPO price as offering nears
NEW YORK — Facebook is raising the price range at which it plans to sell stock to the public. The social networking company said in a regulatory filing Tuesday that it expects to sell its stock for between $34 and $38 per share. That’s higher than a previous range of $28 to $35. The increased […]
FDIC head outlines strategy for seizing banks
WASHINGTON — Regulators plan to employ a strategy for handling big failing banks that would help stabilize the financial system by preserving the banks’ healthy operations, the head of the Federal Deposit Insurance Corp. says. FDIC Acting Chairman Martin Gruenberg outlined the agency’s strategy in a speech Thursday. Under the 2010 financial overhaul law, the […]
Obama wants to target oil market manipulation
WASHINGTON — President Barack Obama pushed Congress Tuesday to give oil market regulators more muscle to deter price manipulation by speculators, the latest White House response to determined Republican attacks on administration energy policies amid high gas prices at the pump. Obama wants Congress to strengthen federal supervision of oil markets, increase penalties for market […]
Feds taking more notice of Apple’s clout
SAN FRANCISCO — In everything it does, from product design to business deals, Apple strives for as much control as possible. But as the world’s most valuable company sets out to define and dominate the rapidly evolving markets it created with the iPhone and the iPad, Apple is likely to face antitrust regulators who want […]
Constellation-Exelon deal gets final approval
Exelon Corp.’s $7.9 billion acquisition of Baltimore’s last remaining Fortune 500 company cleared its final regulatory hurdle Friday with the conditional approval of the deal by the Federal Energy Regulatory Commission. On Feb. 17, Maryland’s Public Service Commission gave its approval for the Chicago-based firm to take over Constellation Energy Group, the parent company of […]
City padlocks Wilmington bus company
WILMINGTON, Del. — The city of Wilmington has locked down a charter bus company found in violation of federal safety standards. The shutdown of Double Happyness Inc., which provides low-cost service to New York and Baltimore, comes more than a month after Department of Transportation officials first ordered the station to close because of violations. […]
Advocates voice support for Calvert Cliffs’ third reactor
SOLOMONS — Calvert County business owners and nuclear energy advocates support a plan to build a third reactor at Calvert Cliffs Nuclear Power Plant, saying it would help the local economy. The hearing held by the federal Atomic Safety and Licensing Board gave nuclear regulators an opportunity to hear from local residents and others about […]
