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Lessons Learned From the Fourth United States Bank Failure of 2023

Perficient

In 2017, the bank was converted from its National Charter to a Kansas state-chartered bank and renamed Heartland Tri-State Bank. Bank Closed By Regulators Almost all bank closures happen on a Friday so that regulators can work all weekend to reopen the bank on Monday.

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Failed Kansas bank rapidly borrowed $21 million from FHLB system

American Banker

Heartland Tri-State Bank, which failed after its CEO allegedly embezzled money to fund cryptocurrency investments, received $21 million in advances from the Federal Home Loan Bank system prior to failure.

Kansas 92
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Kansas City Fed names veteran banker and regulator as chief

American Banker

Schmid will assume Esther George's former role on August 21.

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Fed hits Kansas-based Small Business Bank with enforcement order

American Banker

The $100 million asset bank ran afoul of various regulatory standards, including credit oversight, anti-money laundering controls and third-party risk management.

Kansas 73
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Report: The Risky Business Of Navigating Online Sales Tax For Merchants

PYMNTS

Merchants working to expand and sell online in more markets must comply with each market’s local sales tax regulations, however, and that is an increasingly complicated task. merchants may also be feeling new pains when selling to Kansas. There are already more than 2.5 Around The Next-Gen Sales Tax World.

Taxes 133
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Brex Offers FDIC Insurance, Adds Chief Legal Officer

PYMNTS

a financial services holding company based in Kansas City, Missouri. Her role will include legal and compliance oversight including the company affiliate, Brex Treasury LLC, a Securities and Exchange-registered broker-dealer.

FDIC 166
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Small banks: Big challenges and big opportunities

Abrigo

According to the Federal Reserve Bank of Kansas City , community banks’ deposit market share dropped to 15% in 2022 from 22% in 2013. Check out our 1071 compliance resources. Balance runoff is picking up speed, according to financial consulting firm Curinos. Worried about complying with the CFPB 1071 rule?