Legislation

Former bank CFO who diverted loan proceeds among those targeted in FDIC prohibitions

August 28, 2026 0

A former chief financial officer of Bank of the Valley, Bellwood, Neb., is prohibited from any future work in federally insured financial institutions under a consent order issued in July and announced Friday by the federal bank deposit insurer. The [...]
FDIC revises consumer exam manual in response to new definition of ‘unsafe, unsound practices’

August 28, 2026 0

Five chapters were revised – and a template removed –from the federal bank deposit insurance agency’s consumer compliance exam manual, the agency said Friday, in a response to a new rule on unsafe, unsound practices. On Thursday, the Federal Deposit [...]
Agencies rescind four-year policy on special purpose credit programs aimed to help disadvantaged consumers, businesses

August 25, 2026 0

Recission of a four-year-old policy aimed at helping creditors expand responsible credit access to economically or socially disadvantaged consumers and commercial enterprises was announced Tuesday by federal banking and credit union agencies, along with other federal agencies. The rescission of [...]
FDIC reports higher ROA, net income for banks in second quarter

August 25, 2026 0

Second-quarter call report data show banks’ return on assets (ROA) and net income both up from the second quarter and from a year ago, the Federal Deposit Insurance Corp. (FDIC) said Tuesday. ROA overall was 1.37% in the second quarter, [...]
John Crews sworn in, designated NCUA Board chairman

August 24, 2026 0

A former Treasury official, John Crews, was sworn in Monday to a seat on the National Credit Union Administration (NCUA) Board, and he was designated chairman by President Donald Trump, the agency said. Crews, nominated in May and confirmed by [...]
Failed Philadelphia savings bank, closed late Friday, estimated to cost FDIC $5 million; sole branch reopens after P&A by other bank

August 24, 2026 0

The sole branch of a failed Philadelphia savings bank was scheduled to reopen Monday after its deposits were assumed, and “substantially all” its assets were purchased, by another savings bank in the city, the federal insurer of bank deposits said [...]
Fed makes public two consents to prohibitions, both for misappropriation of customer funds

August 20, 2026 0

Two more former bank workers have consented to prohibition orders, both for misappropriation of customer funds, the Federal Reserve said Thursday. The one of the prohibitions is for a former employee at Regions Bank, adding to the at least four [...]
Crews awaits swearing-in to seat on NCUA Board

August 20, 2026 0

There’s been no news yet of the swearing-in of John Crews to a term on the board of the National Credit Union Administration (NCUA), which is apparently working with all three board seats vacant. Crews, a Treasury official, was nominated [...]