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FDIC chair, ‘architect of Operation Chokepoint 2.0’ Martin Gruenberg to resign Jan. 19

[Nov 20 2:18 AM] Martin Gruenberg is set to exit as FDIC Chair, with Representative Tom Emmer blasting him as “an architect of Operation Chokepoint 2.0.”

Coinbase Accuses U.S. SEC, FDIC of Improperly Blocking Document Requests

[Jun 27 8:42 AM] A research firm Coinbase contracted is suing the U.S. Securities and Exchange Commission (SEC) and a federal banking agency, accusing them on Thursday of failing to produce documents under open-records laws that would shed light on the regulators'…

Top U.S. Bank Regulator Faulted for Lack of Crypto Guidance to Banks

[Oct 18, 2023 12:01 PM] The U.S. Federal Deposit Insurance Corp. (FDIC) has left the banks it oversees unequipped to navigate the regulator's crypto expectations, according to the agency's inspector general, so the FDIC agreed to field a new strategy by January.

Crypto Crashes and Climate Chaos: FDIC Highlights Key Banking Risks in 2023

[Aug 15, 2023 10:30 AM] The U.S. Federal Deposit Insurance Corporation (FDIC) flagged escalating risks from cryptocurrencies in its annual review of risks facing the banking industry. FDIC: Cryptos and Climate Top Risk List for Banks in 2023 Cryptocurrencies present…

OKCoin Accused by FDIC of Making False Claims About Customer Protections

[Jun 15, 2023 8:58 PM] OKCoin must scrub misleading statements that suggest its customers’ accounts are protected by the U.S. Federal Deposit Insurance Corp. (FDIC), the U.S. banking regulator ordered late Thursday, complaining the company is making false claims.

First Republic’s crisis is not an isolated incident - suggests JPMorgan exec

[Apr 30, 2023 12:18 AM] The CIO of JPMorgan Asset Management said it’d be “naive to say that this is just limited to First Republic.”

FDIC alleges Cross River engaged in 'unsafe' lending practices

[Apr 29, 2023 7:23 PM] Cross River is yet to admit nor deny the allegations that it “engaged in the unsafe or unsound banking practices” related to its lending activity in 2021.

US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’

[Apr 9, 2023 9:30 AM] The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest…

Yellen Says US ‘Not Willing to Allow Contagious Bank Runs,’ Calls OPEC Oil Production Cut ‘Unconstructive’

[Apr 5, 2023 5:30 PM] Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury…

Signature’s crypto clients told to close their accounts by April 5: Report

[Mar 28, 2023 8:01 PM] Any crypto deposits not transferred to another bank by April 5 will be liquidated and a check mailed to the client's address.

Bitcoin Emerges as Safe Haven as Traditional Finance Faces Turmoil

[Mar 22, 2023 11:40 AM] Conflicting data creates the question of how the Fed will react to both rising inflation and failing banks - and whether bitcoin will be a lifeboat.

On the Brink of a New Trend: Credit Suisse Receives 50 Billion Swiss Franc Bailout From Swiss National Bank

[Mar 16, 2023 10:00 AM] Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’ value this week. Over the past five days, Credit Suisse shares have fallen 24.34% against the U.S…

Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders

[Mar 14, 2023 1:30 PM] The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would…

FDIC to attempt another auction of Silicon Valley Bank: Report

[Mar 13, 2023 7:27 PM] Regulators are planning another auction for Silicon Valley Bank after the previous attempt to find a new owner failed.

Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure

[Mar 13, 2023 4:30 PM] Barney Frank, a former member of the U.S. House of Representatives from Massachusetts and leading co-sponsor of the 2010 Dodd-Frank Act, discussed his opinion on the recent failure of Signature Bank. In an interview, Frank stated that he believes…

Bill Ackman warns US gov't: Fix mistake in ‘48 hours’ or face ‘destruction’

[Mar 12, 2023 12:14 AM] Billionaire Bill Ackman said that SVB’s senior management made a “basic mistake” but should be fired.

US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual

[Mar 10, 2023 12:10 PM] After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors can…

Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power

[Feb 9, 2023 2:30 PM] According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S…

US Regulators and the Fed Jointly Issue Crypto Warnings

[Jan 4, 2023 8:30 PM] The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly issued warnings about crypto risks to banking organizations. “The agencies have significant safety and…