Tag: February 2026
FDIC Veteran Murton Steps Down After 39 Years
FDIC Veteran Murton Steps Down After 39 Years WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) is facing a leadership shift as Arthur J. (Art) Murton, Deputy to the Chairman for Financial Stability and Director of the Division of Complex Institutions Supervision and Resolution (CISR), announced his retirement effective May 31, 2025. Murton’s departure marks…
Crime Boss Busted in $100M Money Laundering Ring
The grimy world of organized crime took a significant hit as authorities today announced the takedown of a high-profile crime boss responsible for orchestrating a $100 million money laundering ring. The suspect, identified as John ‘The Shark’ Smith, 45, from the seedy underbelly of Detroit, has been charged with conspiracy to launder proceeds of unlawful…
Feds Unveil Elder Fraud Crackdown Plan
GRIMY TIMES EXCLUSIVE – In a major crackdown on elder financial exploitation, five federal agencies joined forces with FinCEN and state regulators to unveil a new set of guidelines. The move comes after a staggering $27 billion in reported suspicious activity was linked to elder financial exploitation over the past year. The joint statement highlights…
FDIC Delays Brokered Deposit Rule Change Amid Scrutiny
WASHINGTON – While no indictments are hitting the streets, a different kind of financial maneuvering is under the microscope. The Federal Deposit Insurance Corporation (FDIC) has punted on finalizing new rules regarding brokered deposits, extending the public comment period until November 21, 2024. The agency claims it’s giving the public more time to weigh in,…
FDIC Approves RFI on Uninsured Deposits Amid Bank Failures
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) has taken a significant step in addressing the instability of the banking sector by approving a Request for Information (RFI). This move comes amidst the backdrop of 2023’s bank failures, where uninsured deposits played a pivotal role. The RFI seeks public comments on deposit data not currently…
FDIC Scrutinizes Banks Over Community Lending Practices
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) quietly released a list of state nonmember banks subjected to Community Reinvestment Act (CRA) evaluations this week, raising eyebrows among financial watchdogs. The agency’s move, announced July 8, 2024, details ratings assigned to institutions following examinations conducted in April 2024. While framed as routine oversight, the release…
FDIC Rocked by Harassment Scandal: Gruenberg Apologizes
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) is reeling after the release of a damning independent report detailing a culture of rampant mistreatment, fear, and even sexual harassment within its ranks. FDIC Chairman Martin J. Gruenberg issued a message to employees today acknowledging the report’s “sobering look inside our workplace” and offering a belated…
FDIC Highlights Compliance Issues
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued the March 2024 edition of the Consumer Compliance Supervisory Highlights. This publication is a stark reminder of the need for transparency in the banking industry, particularly when it comes to consumer protection laws. The report highlights supervisory observations related to consumer protection laws, examples of…
FDIC Unveils Resolution Plans for Nine Major Banks
The Federal Deposit Insurance Corporation (FDIC) has made waves in the banking sector by releasing the public sections of resolution plans for nine major domestic banks. Due by December 1, 2023, these documents outline how the FDIC would manage the liquidation or purchase-and-assumption transaction of these institutions if they were to face insolvency. Under FDIC…
Banks Pocket $68.4 Billion Despite Looming Crisis
Banks Pocket $68.4 Billion Despite Looming Crisis WASHINGTON D.C. – While Main Street families struggle with inflation and a tightening economy, the nation’s banks are still raking in the cash. The Federal Deposit Insurance Corporation (FDIC) reported today that FDIC-insured institutions collectively netted $68.4 billion in profits for the third quarter of 2023. But don’t…
