Latest developments from the FDIC (Federal Deposit Insurance Corp.), insurer of deposits in banks, thrifts and other financial institutions.
A referral agent for a Rhode Island bank was prohibited from further bank employment and ordered to pay $1 million in restitution for “violations of regulations” and unsafe and unsound practices, the federal insurer bank […]
The process for escalating supervisory concerns at banks and other regulated institutions has weaknesses that should be addressed, according to a report issued Tuesday. The Government Accountability Office (GAO) said bank failures in 2023 “raised […]
Forty-five more days are now available for commenting on the proposed deposit insurance recordkeeping rule for banks’ third-party (custodial) accounts, the federal insurer of bank deposits said Monday. With the addition of 45 days, the […]
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 […]
A “consensus” on how to investigate allegations of alleged sexual harassment misconduct by executives of the federal insurer of bank deposits was reportedly reached by the agency’s board during a closed, non-public meeting Tuesday, a […]
A record low 5.6 million households nationwide remain unbanked, the federal insurer of bank deposits said Tuesday, reporting that its latest survey shows nearly 96% of all households were, in fact, banked. According to the […]
An online tool to promote creation of new minority banks by helping financial institutions, investors, and other interested groups identify neighborhoods that could benefit from banking services was unveiled Wednesday by the federal insurer of […]
The unbanked and underbanked will be the subject of a Nov. 13 meeting for the economic inclusion committee of the federal insurer of bank deposits, the agency said Wednesday. The Federal Deposit Insurance Corp.’s (FDIC) […]
One bank earned an “outstanding” rating for its compliance with anti-redlining rules, and three banks earned “needs improvement” ratings for their compliance, the federal insurer of bank deposits said in its latest results for the […]
Banks serving borrowers dealing with significant property damage from flooding of Havasupai Tribe lands in Arizona are being offered regulatory relief to extend assistance, the Federal Deposit Insurance Corp. (FDIC) said Thursday. In a Financial […]
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