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Revisions in 2020 to the way regulators classify "hot" deposits struck some observers as risky, at least in theory. Silvergate seems to have made that risk less theoretical.
February 7
American Banker -
The Federal Deposit Insurance Corp. has lowered the Utah bank's CRA score to "needs to improve," putting other banks that work with high-rate lenders on notice.
February 7
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Coinbase, Paxos, MetaBank and PayPal all claim the primary purpose exception, which allows companies to place deposits at banks without limits applied to brokered deposits.
February 6
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The House of Representatives approved a bill that would amend the Federal Credit Union Act to halve the number of board meetings many credit unions would have to conduct each year.
February 3
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A core issue in the upcoming fight over late fees involves what data is being collected on card issuers' costs and losses associated with late payments.
February 3 -
Pointing to an FDIC policy change in 2020, regulatory experts say it's time for the agency to revisit what constitutes a brokered deposit.
February 2
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The Federal Reserve Chair urged Congress to raise the debt ceiling, warning the impacts of not doing so could go beyond the central bank's ability to mitigate.
February 1
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Federal Reserve officials quietly tightened internal restrictions on employees' political activities after several reserve banks ran afoul of Congress over real or perceived engagement on issues within the domain of elected officials.
February 1
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A judge said he would approve Deutsche Bank's $26.3 million settlement of a lawsuit that accused the bank of misleading investors about how thoroughly it vetted clients, including Jeffrey Epstein and Russian tycoons.
February 1
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The Consumer Financial Protection Bureau's data-access rule could create an uneven playing field because banks and credit unions are examined by regulators but hundreds of nonbank fintechs are not.
January 30
