February 7, 2012

FOR IMMEDIATE RELEASE
Contact: Casey Bowman - (202) 225-3536

Herrera Beutler Continues Push for Answers on Bank of Clark County Fallout, Rialto
Jaime asks financial oversight committee to examine FDIC loan sales to Rialto

Washington, DC - Today Congresswoman Jaime Herrera Beutler requested a Congressional hearing to examine the FDIC's multiple loan sale transactions with Rialto Capital Management that have impacted communities across the country.

Jaime sent a joint letter with Congressman Lynn Westmoreland (R-GA) to the House Committee on Financial Services' Subcommittee on Oversight and Investigations to request a hearing on the FDIC's loan sales to Rialto. Borrowers from across the country have fallen victim to the harsh tactics of Rialto once the east-coast entity assumed control of loans from failed local banks. In Clark County, several borrowers who hoped to work with Rialto on repaying their loans hit dead ends and lost their businesses.

"Communities across the nation are still reeling from what happened when Rialto purchased the loans of failed local banks," said Jaime. "A Congressional hearing would give us a much better understanding of what exactly took place when the FDIC sold loan packages to Rialto. I appreciate the FDIC's ongoing cooperation in this matter, but we still have many questions that must be answered.

"Once we more fully understand what took place, we can determine whether Congressional action can help prevent the kind of scenario that unfolded in Clark County from happening again. The small businesses that were affected represent people's jobs and livelihoods."

Background:

In March of 2011, Jaime began looking into the fallout from Rialto's purchase of the Bank of Clark County loans. She contacted the FDIC, and met in person with the Deputy to the Chairman of the FDIC, who promised to do a deep-dive review of Rialto's actions in Clark County.

In September of 2011, Jaime submitted details of the fallout from Rialto's actions for a congressional field hearing held by the House Committee on Financial Services on this matter.

Jaime has also made her office available to open formal cases for people having trouble with Rialto. While several have approached her office, she has been unable to secure a positive outcome for more than a few.

###

coach factory outlet black infrared 23 13s north face cyber monday jordan 6 black infrared michael kors black friday coach cyber monday jordan 11 legend blue beats by dre black friday north face cyber monday black infrared 6s beats by dre black friday north face black friday jordan 11 legend blue louis vuitton outlet beats by dre cyber Monday grey toe 13s beats by dre cyber monday coach black friday jordan 13 grey toe coach cyber monday coach cyber monday jordan 13 black infrared 23 michael kors black friday barons 13s uggs black friday beats by dre cyber monday black infrared 6s beats by dre cyber monday jordan 13 black infrared 23 north face cyber monday black infrared 6s jordan 11 legend blue michael kors black friday grey toe 13s coach black friday jordan 6 black infrared black infrared 6s coach black friday beats by dre black friday legend blue 11s coach black friday jordan 6 black infrared coach cyber monday north face black friday beats by dre black friday lululemon black friday lululemon cyber monday jordan 13 bred coach cyber monday michael kors cyber monday uggs black friday coach black friday black infrared 6s jordan 6 black infrared black infrared 6s jordan 6 black infrared beats by dre black friday beats by dre cheap bred 13s uggs cyber monday uggs cyber monday beats by dre black friday beats by dre outlet black infrared 6s beats by dre cyber monday beats by dre cyber monday bred 13s north face cyber monday beats by dre cheap beats by dre cyber Monday black infrared 6s beats by dre black friday lululemon black friday louis vuitton outlet black infrared 23 13s beats by dre black friday jordan 11 legend blue jordan 13 black infrared 23 beats by dre black friday legend blue 11s jordan 6 black infrared coach outlet coach factory outlet uggs black friday uggs black friday black infrared 6s lululemon black friday uggs cyber monday jordan 11 legend blue michael kors cyber monday michael kors black friday barons 13s jordan 11 legend blue barons 13s north face black friday beats by dre black friday coach black friday black infrared 6s lululemon cyber monday michael kors cyber monday coach cyber monday uggs black friday grey toe 13s jordan 13 grey toe coach cyber monday coach cyber monday uggs cyber monday legend blue 11s beats by dre cyber monday jordan 6 black infrared michael kors black friday black infrared 6s louis vuitton outlet beats by dre cyber monday north face black friday uggs black friday jordan 6 black infrared black infrared 6s jordan 11 legend blue black infrared 6s