Category: Banking

The Consumer Financial Protection Bureau (CFPB) has imposed a hefty fine of $12 million on Bank of America for misleading mortgage lending data reported to the federal government. The fine comes as a consequence of the bank's violation of the …Read more  »

If you are a customer of Citizens Bank in Sac City, Iowa, you may have been surprised to find out that your bank was closed by the regulators on November 3, 2023. This marked the fifth bank failure in the …Read more  »

In a startling turn of events, US bank stocks have plummeted to an unprecedented low, sending shockwaves through the financial markets. According to financial experts, this drastic downturn is not a standalone occurrence but rather the result of a perfect …Read more  »

The banking industry is a cornerstone of the global economy, facilitating the flow of capital and supporting businesses and individuals with their financial needs. However, the industry is not immune to challenges, and bank failures can cause significant disruptions in …Read more  »

On Friday, November 3, 2023, Citizens Bank was closed by the Iowa Division of Banking. The Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. Iowa Trust …Read more  »

Are you an entrepreneur looking for ways to fund your business venture? Or an investor looking for high returns on your investment? If so, you've probably come across the term "leveraged financing." But what exactly does it mean? In this …Read more  »

According to the provided web search results, Silicon Valley Bank (SVB) collapsed in March 2023 after customers began frantically withdrawing their deposits following the announcement of a $1.8 billion loss and credit downgrade. The collapse is the biggest bank failure …Read more  »

The Senate Banking Committee recently achieved a significant milestone in response to this year's banking turmoil by approving a bipartisan bill in a 21-2 vote. The legislation, negotiated by Senate Banking Chair Sherrod Brown, Senator Tim Scott, and Senator Elizabeth …Read more  »

Signature Bank Failure Update: What's Next? The Federal Deposit Insurance Corporation (FDIC) has announced its plans to sell the commercial real estate holdings left over from Signature Bank. FDIC has announced a framework for selling off approximately $60 billion in …Read more  »