FDIC Demands Three Companies Cease Making False or Misleading Representations about Deposit Insurance
PRESS RELEASE | JUNE 15, 2023 FDIC Demands Three Companies Cease Making False or Misleading Representations about Deposit Insurance Este comunicado de prensa también está disponible en español WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued a letter demanding three companies and certain of their officers cease and desist from making false […]
Cambridge Savings hires Santander, BofA alum as digital lead
Tony Macchi will be in charge of the Massachusetts community bank’s ongoing digital transformation
Atlanta Fed president owns up to more errors in financial disclosure
All 12 regional Federal Reserve banks released financial information from their presidents on Thursday, including new errors that Federal Reserve Bank of Atlanta President Rafael Bostic acknowledged. Such disclosures have taken on increased significance after a slew of scandals in recent years.
NFL is latest sports league to borrow from minority banks, CDFIs
The pro football league plans to borrow up to $78 million over the next three years from 16 financial institutions, most of which are Black-owned or Black-led. It follows the lead of Major League Soccer, which announced a similar plan last year.
AI could cause a ‘total erosion of truth’: Andrew Yang
The former presidential candidate shared his worst-case scenarios for artificial intelligence, as well as his opinions about bank chatbots and what he thinks of the U.S. political system, at American Banker’s Digital Banking Conference.
Mid-Southern Bancorp investors support a potential sale
J. David Rosenberg, a shareholder in the Salem, Indiana-based company, proposed the initiative after he became frustrated with the bank’s financial performance.
New World Bank chief vows to steer clear of U.S.-China rivalry
Ajay Banga, the newly appointed president of the World Bank, said he doesn’t view China as a rival for the development lender and pledged to avoid getting dragged into competition between Washington and Beijing.
Trouble in Camelot, as the Home Loan banks face scrutiny
The idyllic existence of Federal Home Loan bank leaders has persisted for 90 years. Now the castle walls may be crumbling.
Citizens launches small-business installment loans with fintech partner
Citizens Financial has teamed with Wisetack, which supports dozens of platforms connecting to thousands of home improvement, dental and veterinary service providers.
Corporate treasurers to banks: You’re not the only game in town
In a new survey, 38% of treasurers said they want to bump up their allocation to money market funds. Only 27% were looking to increase their bank deposits, highlighting the pressures the industry faces as it strives to hold onto customers’ cash.