A failed-bank review of fhe $136-million First City Bank of Florida, closed last October, shows that a growth strategy centered on commercial real estate, a lack of proper control risk mitigation, and poor credit underwriting […]
A recent report by the federal agency charged with financial consumer protection provides a window into some of the actions currently underway – including a potential update of the model privacy form explaining information-sharing to […]
An audit of the federal credit union regulator’s consumer complaint program produced good marks overall but identified issues surrounding internal controls over complaint processing and communications with stakeholders, a report released recently shows. The audit […]
Five individuals – three from Milwaukee, Wis., and two from Chicago – have been indicted for their alleged participation in a scheme to file fraudulent loan applications seeking more than $1.1 million in forgivable Paycheck […]
A series of fraud schemes against financial institutions and others totaling more than $30 million earned a former Aurora, Mo., business owner eight years in prison – with no parole – and an order to […]
A “self-initiated” review by the inspector general’s office of the federal regulator of credit unions concludes that the agency should continue to seek statutory authority for direct examination and enforcement authority over credit unions’ third-party […]
A criminal complaint unsealed Thursday charges two New York brothers for allegedly conspiring and submitting at least eight applications for nearly $7 million in forgivable Paycheck Protection Program (PPP) loans guaranteed by the Small Business […]
A Massachusetts man who allegedly conspired to seek more than $500,000 in forgivable loans through the Small Business Administration (SBA) Paycheck Protection Program (PPP) – and who reportedly faked his own death following charges and […]
The owner and manager of a contracting and construction company in Brooklyn Park, Minn., has been charged with two counts of wire fraud and two counts of money laundering related to alleged fraud against the […]
A project manager employed by a major retailer has pleaded guilty to bank fraud charges for fraudulently seeking more than $8 million in forgivable Paycheck Protection Program (PPP) bank loans, the Federal Deposit Insurance Crop. […]
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