3 bank receiverships in FL, MA terminated by FDIC

October 9, 2020 FDIC 0

The receiverships of three banks in Florida and Massachusetts, each bank having been closed April 16, 2010, were terminated Oct. 1 by the Federal Deposit Insurance Corp. (FDIC), the agency said in a Federal Register notice published Friday.

The receiverships were for AmericanFirst Bank, Clermont, Fla.; First Federal Bank of North Florida, Palatka, Fla.; and Butler Bank, Lowell, Mass.

Notice of termination of receiverships

Delinquency rates on rise for CRE, some consumer loans, Fed supervision report finds

November 15, 2024 0

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CLF’s 2025-26 budget, share insurance fund update slated next Thursday

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Farmer Mac stock a permissible investment for some FCUs, agency opinion states

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Fed’s Kugler becomes latest board member to advocate for continued agency independence

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VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs

November 14, 2024 0

A Virginia firm must pay $3 million for illegally taking millions of dollars from more than a half-million accounts and blocking money transfers to consumers who are incarcerated, according to charges made public by Thursday by the federal consumer financial [...]
OIG sets 4 recommendations for NCUA’s federal chartering process

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Automation, better communication on process and a process for handling inquiries are recommended for the federal credit union regulator’s chartering process in an inspector general audit report released recently on the agency’s website. The National Credit Union Administration (NCUA) Office [...]
Small FL credit union conserved

November 14, 2024 0

The $59 million-in-assets Alliance Credit Union of Florida, Gainesville, Fla., was conserved last week by the state’s financial regulator, with the National Credit Union Administration (NCUA) named conservator. No specific reason for the conservatorship was provided in the NCUA’s evening [...]
PA bank failure, first of year, came from reclassified debt securities, dysfunctional management, report finds

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Republic First Bank became “critically undercapitalized” in April – which a dysfunctional board and management team exacerbated, ultimately leading to the bank’s failure, according to the material loss review published Wednesday by the federal insurer of bank deposits. The report, [...]
Reports of suspected fraud using deepfake media spurs FinCEN to issue ‘red flags’ alert to FIs

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