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The Federal Deposit Insurance Corporation has issued its first official proposal outlining how banks can obtain approval to issue payment stablecoins, marking the GENIUS Act’s regulatory framework moving from statute…
The comments were part of a speech on Friday titled “Charting a New Course.” Did the FDIC Just Confess to Crypto Debanking? Federal Depositary Insurance Corporation (FDIC) Vice Chairman Travis…
Congressional leaders are pressing regulators over concerns that the U.S. Securities and Exchange Commission (SEC)’s new guidelines on digital asset custody could disrupt financial innovation and regulatory collaboration. Lawmakers question…
The U.S. Federal Reserve has imposed a $60.6 million fine on Citigroup for continued failures in its risk management and data quality practices. The enforcement action follows Citigroup’s insufficient progress…
Coinbase has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) and Federal Deposit Insurance Corporation (FDIC) to obtain documents on their approaches to cryptocurrency regulation. Coinbase’s chief…
While U.S. federal regulators, including the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, have identified concerns with the crisis management tactics of four banks, in a recent interview…
Federal authorities have spotlighted critical deficiencies in the crisis management strategies—known as “living wills”—of four major U.S. banks, signaling a push for stronger safeguards against financial turmoil. The Federal Deposit…
A report has found that JPMorgan Chase Bank accounted for a substantial 18% share, or $11.7 billion, of the total $64.2 billion net income reported by all FDIC-insured banks for…
U.S. banks reported an alarming increase in unrealized losses and a growing list of institutions at risk of failure in the first quarter of 2024, according to the latest U.S.…
In the wake of a turbulent period for U.S. banks, the Pennsylvania Department of Banking and Securities has shut down Philadelphia-based Republic First Bank, also known as Republic Bank. The…