by Ken Chase | May 18, 2023 | Banks, News
U.S Treasury Secretary Janet Yellen will meet with Bank Policy Institute board members on May 18 in Washington, D.C. She reportedly plans to discuss the current debt ceiling standoff with the board, which includes the CEOs of several of the nation’s largest banks....
by Ken Chase | May 17, 2023 | Banks, News
The Consumer Financial Protection Bureau issued a new CFPB circular this week, according to an agency press release. The circular is a warning to banks that unilaterally reopen customer deposit accounts to process fees. Banks that engage in that conduct could be...
by Ken Chase | May 16, 2023 | Banks, News
The Federal Deposit Insurance Corporation (FDIC) has unveiled a proposal to replenish its deposit insurance fund. The proposal released on Thursday would see the nation’s largest lenders bear more than 95% of the cost, according to a recent Reuters report. The fund...
by Ken Chase | May 11, 2023 | Banks, News
The Federal Reserve released two separate reports this week that point to continuing financial risks for U.S. economic growth throughout 2023. The reports suggest that an acceleration of tightening lending standards and a contraction in credit could contribute to an...
by Ken Chase | May 5, 2023 | Banks, Business, News
The Federal Deposit Insurance Corporation (FDIC) recently released an overview of the nation’s deposit insurance system. That report, Options for Deposit Insurance Reform, includes proposed options for expanded deposit insurance. It arrives in the wake of several...
by Ken Chase | May 1, 2023 | Banks, News, Uncategorized
After a weekend of frantic negotiations, U.S. regulators seized First Republic Bank on Monday. The Federal Deposit Insurance Corporation (FDIC has brokered a deal for JPMorgan Chase to purchase the failed bank’s assets. According to a statement released by the agency,...
