by Ken Chase | Mar 5, 2023 | Banks, News
The United States Department of Justice recently announced that Ohio-based Park National Bank has agreed to a $9 million settlement over allegations of redlining lending discrimination. According to the DOJ, Park National has cooperated with the department to correct...
by Ken Chase | Mar 3, 2023 | Banks, News
Estimated reading time: 2 minutes In a press release this week, Redemption Holding Company (RHC), a black investor group, announced that it is acquiring Holladay Bank and Trust, a Utah commercial bank. According to the RHC statement, the purchase will be the first...
by Ken Chase | Feb 27, 2023 | Banks, News
A group of U.S. regulatory agencies released a joint statement this week, calling on the nation’s banks to be vigilant to potential liquidity risks associated with cryptocurrency. The statement urged financial institutions to focus on implementing tools and systems to...
by Ken Chase | Feb 26, 2023 | Banks, News
Estimated reading time: 2 minutes Several major banks have reportedly decided to restrict the use of OpenAI’s ChatGPT chatbot by their employees, according to a report this week from Bloomberg. The banks are apparently concerned about an array of issues related to the...
by Ken Chase | Feb 23, 2023 | Banks, News
Estimated reading time: 2 minutes The Federal Deposit Insurance Corporation (FDIC) Office of Inspector General (OIG) recently delivered a report outlining the key challenges faced by the agency in the coming years. The report focuses on problems that the FDIC will...
by Ken Chase | Feb 21, 2023 | Banks, News
Estimated reading time: 2 minutes A newly legislative proposal to block the Biden administration’s efforts to increase IRS powers to force banks to disclose private bank account information to the Internal Revenue Service has received support from both the US...
