FDIC opens failed bank auctions to private equity firms

Processing ContentKey insight: FDIC is lifting the ban on nonbanks buying failed banks to speed failed bank sales.Expert quote: "The downside risk of not finding an acquirer, or of the best bid coming at a substantial cost to the DIF, may outweigh the downside risk of potential future problems at certain potential bidders," FDIC chair Travis Hill.Forward look: The expanded bidder pool may raise concerns about concentration.The Federal Deposit Insurance Corp. board on Thursday voted unanimously to rescind a  ...