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FDIC's unusual order against tiny Utah bank: Sell yourself or liquidate

American Banker

One of the smallest banks in the country hasn't consistently made a profit since 2007 and has been the subject of enforcement actions. The FDIC's public rebuke against it indicates a last-ditch effort to figure out a less messy solution than receivership.

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ABA Data Bank: FDIC Insurance Fund at Record-High Balance

ABA Community Banking

Since 2007, banks have more than doubled the balance of the FDIC insurance fund that protects deposits to a record $110.3 The post ABA Data Bank: FDIC Insurance Fund at Record-High Balance appeared first on ABA Banking Journal.

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Discover admits it overcharged merchants for 16 years

American Banker

Discover Financial Services' stock tumbled after revealing a new FDIC consent order regarding consumer compliance. Separately, the financial institution also copped to misclassifying certain credit card accounts into its highest merchant-pricing tier beginning in 2007.

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Study Sacks FDIC Fears on Brokered Deposits

Long Lasting Ideas

Subprime mortgages, greedy big banks and brokered deposits were at the root of the 2007 financial crisis, or so goes the case of federal regulators who helped saddle institutions big and small with Dodd- Frank. Continue reading Study Sacks FDIC Fears on Brokered Deposits at Bank Marketing Strategy + Ideas.

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Kachkar Charged With $140 Million Fraud

PYMNTS

Born in Syria, he was brought up in Canada by Armenian parents, and he attempted to buy the French soccer team Olympique de Marseille in 2007 for $148 million from Robert Louis-Dreyfus. Inyx filed for Chapter 11 bankruptcy protection in 2007. Kachkar has a colorful history. in his efforts to buy the team.

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Chase Tries To Win Over More Unbanked Consumers

PYMNTS

recently fell to the lowest rate since the 2007-2009 financial crisis, but a new product launch from JPMorgan Chase & Co. According to the Federal Deposit Insurance Corporation (FDIC), the percentage of unbanked Americans fell to its lowest level since the 2007-2009 financial crisis. households remain unbanked. In 2017, 6.5

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LendingClub Broadens Access To Credit With Select Plus Platform

PYMNTS

LendingClub has facilitated billions of loans made by WebBank , member FDIC, since its rollout in 2007. .” Select Plus Platform joins other recent LendingClub innovations like Levered Certificates and CLUB Certificates to offer access to the increasingly mainstream asset class of consumer lending.

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