Latest developments from the FDIC (Federal Deposit Insurance Corp.), insurer of deposits in banks, thrifts and other financial institutions.
A so-called “neobank” which says it provides access to the U.S. banking system has been ordered to stop making phony representations that its customers cryptocurrency is covered by federal bank deposit insurance, the agency that […]
A comprehensive review of the federal bank deposit insurance system, as well as a review of the supervision by the deposit insurance agency of one of the two recently failed banks, will be conducted and […]
A North Carolina bank that will assume all deposits and loans from the bridge bank that took over for the closed Silicon Valley Bank (SVB) entered a “loss-share transaction” on the commercial loans it purchased […]
Developments related to the failure of two large banks two weeks ago continued to emerge this week, with regulators promising a complete review of regulation and supervision, and even action for smaller banks should the […]
Noting the steps federal banking regulators have taken in recent days to limit the direct and indirect U.S. financial system risks of the closures of Silicon Valley Bank (SVB) and Signature Bank, the Federal Reserve […]
Contracts previously entered with two failed banks, now in receivership with the federal bank deposit insurance agency, must still be honored, the agency said in a letter to insured institutions issued late Tuesday. The Federal […]
A Santa Clara, Calif., bank largely serving the tech industry was closed Friday by state regulators, which immediately prompted federal regulators to charter a new bank to accept the deposits of the closed bank, the […]
Federal banking regulators met Friday afternoon with the Secretary of the Treasury to discuss developments around the closure of a Santa Clara, Calif., bank, the Treasury Department said. In a release, the Treasury Department said […]
Changes to rules that will allow persons who were previously prohibited from working at or serving a bank and will now let those individuals take those positions were announced Thursday by the federal bank deposit […]
Risks remain on the horizon for the banking industry, the result of trends developed during the coronavirus, despite strong performance and the low number of problem banks and failures, the board chairman for the federal […]
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