The Federal Deposit Insurance Corporation (FDIC) says large customers at a recently shut down bank could collectively lose millions of dollars in uninsured deposits. The banking regulator says at least $7.1 million at First National Bank of Lindsay in Oklahoma was uninsured, held in accounts that exceed the agency’s $250,000 insurance coverage limit. For now, […]
The post FDIC Warns Customers Holding $7,100,000 in Uninsured Deposits After Sudden Bank Failure appeared first on The Daily Hodl.
US banks are increasingly offloading billions of dollars in bad debt that they’ve officially given up on collecting, according to new numbers from the Federal Deposit Insurance Corporation (FDIC). In its new Quarterly Banking Profile report, the FDIC says US banks reported $21.3 billion in net charge-offs in the second quarter of the year, due […]
The post JPMorgan Chase, Wells Fargo and Bank of America Lose $5,000,000,000 in Push To Offload Rotten Debt As Credit Card Delinquencies Surge appeared first on The Daily Hodl.
US banks are increasingly offloading billions of dollars in bad debt that they’ve officially given up on collecting, according to new numbers from the Federal Deposit Insurance Corporation (FDIC). In its new Quarterly Banking Profile report, the FDIC says US banks reported $21.3 billion in net charge-offs in the second quarter of the year, due […]
The post JPMorgan Chase, Wells Fargo and Bank of America Lose $5,000,000,000 in Push To Offload Rotten Debt As Credit Card Delinquencies Surge appeared first on The Daily Hodl.
The number of US banks with major issues is on the rise, according to the Federal Deposit Insurance Corporation (FDIC). The agency’s Second Quarter 2024 Quarterly Banking Profile shows the number of lenders on its “Problem Bank List” rose quarter-on-quarter from 63 to 66. It’s the fifth consecutive quarterly increase of banks rated 4 or […]
The post $512,900,000,000 in Unrealized Losses Hit US Banks As Number of ‘Problem Banks’ Rises To 66: FDIC appeared first on The Daily Hodl.
Americans are holding a whopping $7.162 trillion in uninsured cash in their bank accounts, according to an under-the-radar report from the Federal Deposit Insurance Corporation (FDIC). The agency says the data, which was captured at the end of March, shows the amount of unprotected cash in US banks is increasing for the first time since […]
The post $7,162,000,000,000 in Uninsured Deposits Brewing in US Bank Accounts As Customers Risk Zero Protection From Federal Government: Report appeared first on The Daily Hodl.
The largest US-based crypto exchange by trading volume is taking on two of the country’s top financial regulators in a new lawsuit. In a lawsuit filed in Washington D.C. today, Coinbase accuses the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) of attempting to “cripple” the crypto industry. “For years, […]
The post Coinbase Sues SEC, FDIC in Scathing Lawsuit Over Alleged Attempts To ‘Cripple’ Crypto appeared first on The Daily Hodl.
US regulators are flagging JPMorgan Chase, Bank of America, Citibank and Goldman Sachs over the banks’ contingency plans for trillions of dollars in derivatives. The Federal Reserve and Federal Deposit Insurance Corporation (FDIC) say the lenders’ so-called “living wills” – which in part detail how banks could safely unwind their derivatives portfolios without requiring government […]
The post JPMorgan Chase, Bank of America and Citibank Flagged for Holding Trillions of Dollars in Derivatives Without Proper Contingency Plans appeared first on The Daily Hodl.
The Federal Deposit Insurance Corporation (FDIC) says a former US bank employee has admitted to stealing thousands of dollars from customers’ accounts. The FDIC accuses Derrick Alan Smith of directly or indirectly violating laws and recklessly engaging in unsound and unsafe practices while working as a branch banker at the North Carolina-based lender Truist Bank. […]
The post $24,315 Drained From Customers’ Bank Accounts After Employee at Major US Lender Goes Rogue: FDIC Report appeared first on The Daily Hodl.
Unrealized losses in the US banking system are once again on the rise, according to new numbers from the Federal Deposit Insurance Corporation (FDIC). In its Quarterly Banking Profile report, the FDIC says banks are now saddled with more than half a trillion dollars in paper losses on their balance sheets, due largely to exposure to […]
The post $517,000,000,000 in Unrealized Losses Hit US Banking System As FDIC Warns 63 Lenders on Brink of Insolvency appeared first on The Daily Hodl.
A US regulator says it’s reached a $1.5 million settlement with a bank that caused “significant harm” to its customers. The Federal Deposit Insurance Corporation (FDIC) says Bank of England, based in England, Arkansas, deceived veterans into overpaying for services while not delivering the products they were entitled to. The regulator says one of the bank’s […]
The post US Regulator Says Bank Will Pay $1,500,000 Settlement for Allegedly Overcharging and Deceiving Hundreds of Customers in Veterans’ Loan Scandal appeared first on The Daily Hodl.
