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AmTrust Bank, the Glossary

AmTrust Bank was a bank based in Cleveland, Ohio.^[1]

Bank

A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans.

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Bank failure

A bank failure occurs when a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities.

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Boca Raton, Florida

Boca Raton (Boca Ratón) is a city in Palm Beach County, Florida, United States.

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Cleveland

Cleveland, officially the City of Cleveland, is a city in the U.S. state of Ohio.

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Columbus, Ohio

Columbus is the capital and most populous city of the U.S. state of Ohio.

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Crain Communications

Crain Communications Inc is an American multi-industry publishing conglomerate based in Detroit, Michigan, United States, with 13 non-US subsidiaries.

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Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks.

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Federal Financial Institutions Examination Council

The Federal Financial Institutions Examination Council (FFIEC) is a formal U.S. government interagency body composed of five banking regulators that is "empowered to prescribe uniform principles, standards, and report forms to promote uniformity in the supervision of financial institutions".

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New York Community Bancorp, Inc. (NYCB), headquartered in Hicksville, New York, is a bank holding company for Flagstar Bank.

See AmTrust Bank and New York Community Bank

Office of Thrift Supervision

The Office of Thrift Supervision (OTS) was a United States federal agency under the Department of the Treasury that chartered, supervised, and regulated all federally chartered and state-chartered savings banks and savings and loans associations.

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Phoenix, Arizona

Phoenix is the capital and most populous city of the U.S. state of Arizona, with 1,608,139 residents as of 2020.

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Receivership

In law, receivership is a situation in which an institution or enterprise is held by a receiver – a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights" – especially in cases where a company cannot meet its financial obligations and is said to be insolvent.

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