The Federal Home Loan banks should be preserved as a liquidity source
Some reforms to the system might be necessary, but it would be unwise to eliminate a critical source of funding for banks across the country.
Klarna’s pre-IPO moves: Expand Stripe alliance, dump loans
The enhanced fintech partnership would build merchant scale, and selling U.K. and U.S. portfolios would free up cash.
Trump’s day one: fire Chopra, reset CFPB, elevate crypto
A one-page outline of priorities for Trump’s inauguration day obtained American Banker includes financial policy items, including firing Consumer Financial Protection Bureau Director Rohit Chopra, issuing a “reset” of that agency and designating crypto as a “national priority.”
Pulaski Savings Bank fails, Millennium Bank assumes deposits
The Chicago-based bank, which failed Friday in the first bank failure of 2025, caused a $28.5 million hit to the Deposit Insurance Fund. The FDIC was appointed receiver and Millennium Bank will assume all deposits.
Press Release: Millennium Bank, Des Plaines, Ill. Assumes All Deposits of Pulaski Savings Bank, Chicago, Ill.
PRESS RELEASE | JANUARY 17, 2025 Millennium Bank, Des Plaines, Ill. Assumes All Deposits of Pulaski Savings Bank, Chicago, Ill. WASHINGTON — Pulaski Savings Bank of Chicago, Ill. was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC […]
Press Release: FDIC Announces Retirement of Doreen Eberley, Director of Division of Risk Management Supervision
PRESS RELEASE | JANUARY 17, 2025 FDIC Announces Retirement of Doreen Eberley,Director of Division of Risk Management Supervision WASHINGTON – Doreen R. Eberley, Director of the Division of Risk Management Supervision (RMS), has announced that she will retire from the Federal Deposit Insurance Corporation on March 29, 2025, following a distinguished 38-year career at the […]
Citizens’ private bank turns profit for the first time
The Providence, Rhode Island-based company launched its private bank in 2023 after a spate of bank failures left holes in the market. “It’s not like I’m asking anybody to wait for delayed gratification,” CEO Bruce Van Saun said Friday.
Fed pulls out of international climate policy group
Citing concerns about going outside its statutory mandate, the Federal Reserve Board of Governors voted to leave the Network of Central Banks and Supervisors for Greening the Financial System.
Big Tech companies challenge CFPB’s attempt to police them
Organizations that represent Amazon, Apple, Meta, PayPal, OpenAI and many other large technology companies accuse the consumer watchdog, which has given itself authority over companies that facilitate at least 50 million consumer payment transactions per year, of regulatory overreach.
FDIC sues 17 former SVB leaders for negligence leading to failure
The lawsuit alleges mismanagement and fiduciary breaches caused SVB’s 2023 collapse, costing the Deposit Insurance Fund $23 billion.