ALEXANDRIA, Va. - (03/03/06) NCUA had good news and bad newsfor DFCU Financial on Thursday. The federal regulator gave the $1.8billion credit union the go-ahead on the voting for the biggestcredit union conversion to bank yet. But in a separatecorrespondence NCUA called on the credit unions supervisorycommittee to investigate allegations of impropriety in theconversion process brought by one member, former chairman LindaMalec, and a group of members she represents called DFCU OwnersUnited. NCUA said it has no choice but to let the mail ballotingcommence but also suggested there was some evidence of allegationsby the group that the DFCU board failed in its due diligence inputting together the massive conversion project. Meantime, Congressis once again considering weighing in on the conversioncontroversy, as both sides have been lobbying important lawmakersover the past few weeks.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
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The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
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The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
April 25 -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
April 25 -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
April 25 -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25