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FDIC terminates consent order with Discover

Payments Source

A related agreement with the Federal Reserve Bank of Chicago remains in effect. The 3-year-old order was related to Discover Bank’s programs for combating money laundering.

FDIC 60
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Accounting firm settles FDIC claims tied to Chicago bank's failure

American Banker

Bansley & Kiener, without admitting wrongdoing, agreed to pay $2.5 million to address allegations that lax oversight contributed to the 2017 collapse of Washington Federal Bank for Savings.

Chicago 36
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First Women's Bank receives conditional approval from FDIC

American Banker

The proposed Chicago de novo would focus on serving female entrepreneurs.

FDIC 48
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A $26.5M Settlement Between FDIC, Leaders of Failed Chicago Bank

American Banker

The former officers and directors for Midwest Bank & Trust have reached a $26.5 million settlement with the Federal Deposit Insurance Corp. over charges of negligence during the financial crisis.

Chicago 28
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Lending Club, Funding Circle And Prosper Join Forces And Form A Trade Association

PYMNTS

The FDIC warned mainstream banks about buying marketplace debt, and the CFPB has set up a special desk for marketplace lending-based complaints. The Office of the Comptroller of the Currency said last week it was seeking comments on a whitepaper on “responsible innovation” in marketplace lending.

Lending 100
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2020 CRE Outlook: Trends Expected to Shape Commercial Real Estate Lending

Abrigo

That’s just the beginning,” warned the Chicago Tribune less than a week earlier. CRE loan performance metrics at FDIC-insured institutions are strong, although institutions with CRE concentrations may be vulnerable to economic changes,” The FDIC said in its 2019 Risk Review.

Lending 195
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Four bankers of failed thrift charged with helping client embezzle funds

American Banker

The Justice Department alleges that the bankers worked with “higher-ranking bank officials” at Washington Federal Bank for Savings in Chicago to falsify records and hide funds prior to the bank's December 2017 collapse.

Chicago 94