Tag: February 2026
FDIC Rocked by Harassment Scandal: Board Dismantles Oversight Panel
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) is grappling with a deeply troubling internal crisis. A newly released report paints a grim picture of systemic sexual harassment, discrimination, and interpersonal misconduct plaguing the agency, and reveals a failure of management to adequately address the issues. The findings prompted the creation of a Special Committee,…
FDIC Taps Bankers for MDI Oversight Amidst Community Bank Concerns
WASHINGTON – While the streets bleed and fentanyl flows, the Federal Deposit Insurance Corporation (FDIC) is playing banker roulette, hoping a new committee can patch holes in the nation’s dwindling network of minority-owned financial institutions. Today, the FDIC announced the addition of four new members to the Advisory Committee on Community Banking’s Minority Depository Institutions…
Regulators Aim to Slash Bank Overregulation
Washington, D.C. — In a bold move to reshape the financial landscape, federal bank regulatory agencies have announced their first round of public comment requests aimed at reducing the regulatory albatross around the necks of banks. The Economic Growth and Regulatory Paperwork Reduction Act of 1996 mandates that every decade, regulators must review and eliminate…
FDIC’s Systemic Resolution Advisory Committee to Meet Amidst Major Shake-up
Washington, D.C. — The Federal Deposit Insurance Corporation’s (FDIC) Systemic Resolution Advisory Committee (SRAC) is gearing up for a pivotal meeting next week, set to address critical policy issues surrounding the orderly resolution of large, complex financial institutions and the management of regional bank failures that could threaten U.S. financial stability. The SRAC, an advisory…
Tim Rich Named FDIC Atlanta Regional Director
WHEELING, W.VA. — The Federal Deposit Insurance Corporation (FDIC) has made a significant move by appointing Timothy (Tim) Rich as the new Regional Director for the Atlanta Region. In this pivotal role, Rich will oversee both Risk Management and Consumer Protection supervision programs for financial institutions within the region. His extensive background and experience in…
FDIC Leads Regulatory Relief for Hawaii Wildfire-Affected Financial Firms
GRIMY TIMES The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and a coalition of federal and state financial regulatory agencies have jointly issued an interagency statement providing regulatory relief for financial institutions affected by the recent Hawaii wildfires. The agencies acknowledge the significant impact the wildfires have had on local communities and their financial…
FDIC Cracks Down on Deposit Insurance Deception
WASHINGTON D.C. – The Federal Deposit Insurance Corporation (FDIC) isn’t playing games. Today, the agency issued a stinging rebuke to three companies – Bodega Importadora de Pallets (“la Bodega”), Money Avenue, LLC, and OKCoin USA, Inc. – ordering them to immediately cease and desist from peddling false and misleading statements about FDIC deposit insurance. This…
SVB & Signature Bank Failures: FDIC Says No Major Impact… Yet
WASHINGTON – The fallout from the twin bank failures of Silicon Valley Bank and Signature Bank isn’t derailing the FDIC’s restoration plan… for now. The agency released its semiannual update today, attempting to project an air of stability amidst ongoing tremors in the banking sector. While acknowledging the damage, the FDIC insists the projected timeline…
Banks Post $68.4B Profit Despite Rising Risks
WASHINGTON – The nation’s banks raked in a collective $68.4 billion in net income during the fourth quarter of 2022, according to a new report from the Federal Deposit Insurance Corporation (FDIC). While seemingly robust, a closer look reveals cracks in the foundation, with profits down $3.3 billion (4.6 percent) from the previous quarter. The…
Smith Sentenced for $50M Wire Fraud Scheme
SHREVEPORT, LA — Business magnate and former CEO John Smith was sentenced to 25 years in federal prison today for orchestrating a massive $50 million wire fraud scheme that left dozens of investors destitute. The 45-year-old Smith, once lauded for his innovative business ventures, was caught by the FBI after a year-long investigation. He was…
