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IndyMac Bancorp Inc. will lay off more than half of its employees and will no longer offer fixed-rate home mortgages, Michael W. Perry, the bank's chairman and CEO, said in a prepared statement Monday. Perry also announced that the Federal Deposit Insurance Corp. has downgraded IndyMac's lending status from "well-capitalized," which means the bank can no longer accept brokered cash deposits without a waiver by the FDIC.
As a member of the professional tax community, my interest in the goings on over at the Treasury Department is a bit more keen than that of most Americans. And as an American expatriate, I am impacted financially in ways which leave my stateside countrymen and -women largely unscathed .
Former Goldman Sachs Group Inc. partner Steven Mnuchin has been recommended by Donald Trump's transition team to serve as Treasury secretary, according to two people familiar with the process, and the choice is awaiting the president-elect's final decision. Mnuchin, the campaign's national finance chairman, has been considered the leading candidate for the job.