Timothy Sumer

ABC News’ Elizabeth Schulze breaks down the report finding bank managers failed to manage the bank’s risk. WATCH the ABC News Live Stream Here: SUBSCRIBE to ABC NEWS: Watch More on LIKE ABC News on FACEBOOK FOLLOW ABC News on TWITTER: #ABCNLUpdate #signaturebank #fdic #abcnews... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The Federal Deposit Insurance Corporation (FDIC) has released their report on the failure of Signature Bank. The report details the events leading up to the bank's closure, as well as the FDIC's actions to protect depositors and resolve the situation. Signature Bank, based in Minnesota, was closed by the FDIC on May 31, 2019. At the time of its closure, Signature Bank had approximately $131.4 million in total assets and $127.4 million in total deposits. According to the FDIC's rep...

The last health insurance mandate that we will discuss covers employers who provide a group retirement plan and/or group health and welfare plans of basically any type, including medical, dental, vision, life insurance and others. Employee Retirement Income Security Act (ERISA) guidance must be followed in any of these cases Any organization that provides retirement or health and welfare plans must provide a document called a Summary Plan Description (SPD) telling beneficiaries about the plan and how it works—in plain language that the average employee can understand. The organization also has to provide similar information whenever the plan changes significantly and send an annual report to members, as well as meet some other requirements. A major provision of ERISA is guidance on retirement (pension) plan eligibility. If the company provides employees with a retirement plan, the guidelines in ERISA say that the plan has to be available to all employees over 21 years of ...