U.S. Federal Deposit Insurance Corporation Chairman Martin Gruenberg on Wednesday said he was deeply sorry for a toxic workplace culture and his own mistreatment of employees. Testifying before Congress, Gruenberg said he accepted the findings of an independent report that …
The Federal Deposit Insurance Corporation must make sweeping changes to address widespread sexual harassment and other misconduct, according to an independent report released on Tuesday that raises questions about the future of the banking regulator’s leadership. The report, prompted by …
Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York. The Federal Deposit Insurance Corp. said Friday it had seized the Philadelphia-based bank, which did business as Republic Bank and had roughly $6 …
Mergers that could result in banks with more than $100 billion in assets should expect heightened scrutiny from the U.S. Federal Deposit Insurance Corporation, according to draft guidance the agency released Thursday. The FDIC’s board of directors is poised to …
More than 350 people have contacted an outside law firm reviewing workplace culture at the U.S. Federal Deposit Insurance Corporation in the wake of media reporting last year on allegations of persistent sexual harassment, top agency officials said on Thursday. …
Bankrupt SVB Financial Group has sued the U.S. Federal Deposit Insurance Corp (FDIC) to recover the $1.93 billion that the regulator seized while it took over Silicon Valley Bank in March, a filing in a bankruptcy court on Sunday showed. …
The head of the Federal Deposit Insurance Corporation said Thursday that bank regulators are considering applying an upcoming set of stricter capital rules to banks with over $100 billion in assets. FDIC Chairman Martin Gruenberg said in a speech the …
Management failures, not loose regulations, prompted Silicon Valley Bank’s sudden failure last month, a top Federal Deposit Insurance Corporation (FDIC) official said on Wednesday. “Mismanagement of interest rate risk was at the core of SVB’s problem,” FDIC Vice Chairman Travis …
North Carolina-based First Citizens Bank, which also offers property and other types of insurance, will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this month, setting off a chain reaction that caused a second bank to …
A top US banking regulator has launched investigations into managers’ conduct in the Silicon Valley Bank and Signature Bank failures. “It is worth noting that these two institutions were allowed to fail,” Martin Gruenberg, chairman of the Federal Deposit Insurance …
