5 lessons learned from Synapse’s collapse | Banking Dive
Oct 30, 2024 · Amid the Synapse ordeal, the FDIC proposed a recordkeeping rule last month to bolster recordkeeping for bank deposits received from third-party or non-bank entities that accept those deposits on behalf of consumers and businesses. The proposal aims to address the risks related to these third-party arrangements, like faulty account ledgering, and protect depositors.
Evolve Bank ‘failed in its most basic duty,’ stole from customers ...
Sep 18, 2024 · Evolve Bank ‘failed in its most basic duty,’ stole from customers: lawsuit The allegations come from Yotta Technologies, a fintech that says its customers are currently locked out of more than $100 million in funds.
Banking News and Analysis | Banking Dive
Banking Dive provides in-depth journalism and insight into the most impactful news and trends shaping the banking industry.
Breaking down capital requirements - Banking Dive
Dec 4, 2023 · Picture this: You’re in your car, driving down the road, and something goes awry. Your car is out of control, and it comes to an abrupt stop when it hits something; and it hits something hard enough that your airbags deploy.
Oklahoma bank fails, in-state peer buys insured deposits
Oct 21, 2024 · Dive Brief: The Office of the Comptroller of the Currency closed Lindsay, Oklahoma-based First National Bank of Lindsay on Friday and appointed the Federal Deposit Insurance Corp. as receiver.; Duncan, Oklahoma-based First Bank & Trust Co. then agreed to acquire the failed bank’s insured deposits, the FDIC announced on the same day. The OCC stepped in after “identifying false and deceptive ...
Don’t lift Wells Fargo asset cap, Warren tells Fed
Nov 21, 2024 · Sen. Elizabeth Warren, D-MA, urged Federal Reserve officials, in a letter Tuesday, to reject a plea by Wells Fargo to lift an asset cap that has halted the bank’s growth since 2018.. The bank submitted a third-party review of changes to its risk management and controls for the central bank to analyze, Bloomberg reported in September. But that submission came on the heels of a broad ...
NYCB rebrands as Flagstar Financial | Banking Dive
Oct 17, 2024 · NYCB’s financial health came under scrutiny when the parent company of Flagstar Bank disclosed in January a $252 million loss over commercial real estate exposure and cut its quarterly dividend by 70%. The announcement sent NYCB’s share price into a tailspin that continued as the bank took larger losses and named a new CEO.
Citi tech chief to share data responsibility with COO: memo
Sep 16, 2024 · Selva and Ryan acknowledged the link between data and technology and highlighted that the collaboration aims to leverage technology more effectively while improving the pace and quality of the transformation efforts — specifically in data management.. Prior to joining Citi, Ryan was U.S. senior partner at PricewaterhouseCoopers, overseeing the …
Fed cites Washington state bank embroiled in Ponzi scheme …
Oct 25, 2024 · The reviews follow Ponzi scheme allegations against UniBank. An amended lawsuit filed in Snohomish County Superior Court added more than 100 plaintiffs and claimed that UniBank and First Fed Bank were involved in facilitating more than 90 loans to invest in WaterStation Technology.. The lawsuit claimed that WST’s founder, Ryan Wear, exploited the small-business lending system and sold ...
2025 banking conference roundup | Banking Dive
Oct 1, 2024 · A gathering centered on strategy sessions meant to grow businesses and brands. It’s aimed at bankers and other finance professionals, but it’s drawing talent from outside that sphere — with keynotes from Kevin O’Leary of “Shark Tank” fame and renowned animal trainer Cesar Millan and a comedy set from “Saturday Night Live” alum David Spade.