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The Congressional Black Caucus Foundation is giving $1 million apiece to five African American-owned banks in an effort to create more lending opportunities for people and businesses in minority communities.
October 7 -
Fulton Financial in Lancaster, Pa., disclosed that another one of its banks has been hit with a consent order tied to Bank Secrecy Act and anti-money laundering compliance.
December 30 -
The Federal Deposit Insurance Corp. on Friday released its list of enforcement actions from September, including a consent order that played a role in derailing two planned acquisitions.
October 31
Seaway Bank and Trust in Chicago has entered into a consent order with state and federal regulators.
The agreement directs the $522 million-asset Seaway to improve its loan quality and financial condition, including a directive to increase its Tier 1 capital to 8%, the company said in a press release Friday.
"Like many other community banks, Seaway ... continues to feel the effects of a soft economic recovery following the 'Great Recession,'" Veranda Dickens, the bank's chairman, said in the release.
The order, which went into effect Dec. 16, was issued by the Federal Deposit Insurance Corp. and the Illinois Department of Financial and Professional Regulation.
Seaway has 11 branches, mostly around Chicago.
