Lax board oversight, reckless growth led to Kansas bank's failure: Report


A federal watchdog agency determined that Almena State Bank's push into government-backed loans, supported with high-cost wholesale funding, set it up for collapse when significant credit issues arose.



New indictments issued in case of failed Chicago bank


Four former employees and several clients of Washington Federal Bank for Savings face charges of falsifying records to conceal the embezzlement of $31 million prior to the bank's December 2017 collapse.


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


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.


Share insurance fund reforms can't wait


A number of reasonable changes to the National Credit Union Share Insurance Fund could help NCUA avoid charging premiums.


Regulators close Kansas bank in fourth failure of 2020


Equity Bank agreed to buy most of the assets, and assume all the deposits, of Almena State Bank.


Regulators close Florida bank in third failure of 2020


First City Bank of Florida had suffered “longstanding capital and asset quality issues” that were unrelated to the pandemic, the FDIC said.


Four bankers of failed thrift charged with helping client embezzle funds


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.


Former First NBC executives charged with fraud tied to bank's failure


Ashton Ryan, the New Orleans bank's CEO, and two other officers are accused of disguising the financial condition of certain borrowers before the bank's 2017 collapse.


Are lawmakers inviting ‘hot money’ boom with brokered deposit bill?


Backers say a bill to limit asset growth instead of restricting brokered funds addresses concerns about expanding balance sheets at troubled banks. But skeptics worry it would open the door to greater risk.