News Topic: Failures

Tech firm accuses PNC of stealing trade secrets; online lender LendingClub agrees to acquire Radius Bank; questions arise whether regulators are turning more partisan; and more from this week's most-read stories. ... Read full article

The credit union regulator's portfolio sale dashed the hopes of a group of New York taxi drivers looking for relief. ... Read full article

Ericson State Bank, which had been in regulators’ sights for a decade, was closed by state and federal authorities Friday. Another bank acquired all of its deposits and a fraction of its assets. ... Read full article

A recent bank failure and a new legislative effort are again drawing attention to the struggles of black-owned banks since the crisis — and the fact that only 21 are left. ... Read full article

First Horizon, Iberiabank in year's second-biggest bank merger; bank failure in New Jersey is nation's third in a week; smaller banks take a turn swinging the ax; and more from this week's most-read stories. ... Read full article

Recent closings could portend a stiffer regulatory stance on capital adequacy and risk. ... Read full article

The FDIC sold the operations of City National Bank of New Jersey, a minority depository institution, to Industrial Bank in Washington, D.C., in the year's fourth closure. ... Read full article

New tech lets American Express instantly issue cards to immigrants; the end of Libor raises concerns about financial stability; regulators shutter banks in Kentucky and Ohio; and more from this week's most-read stories. ... Read full article

Louisa Community Bank and Resolute Bank were closed on Friday, raising the year's total to three failures. ... Read full article

Readers react to a regulator's promise to reduce regulation that hinders innovation, Sen. Elizabeth Warren's plan to impose heavier taxes on lobby groups, Freddie Mac's exploration into AI and more. ... Read full article

Banks need to understand that examiners' job is to call it like they see it. ... Read full article

An initial review determined that lax oversight at Enloe State Bank allowed for the origination of more than 100 allegedly fraudulent or fictitious loans. ... Read full article

Prosecutors are investigating the involvement of Ashton Ryan and another executive in the New Orleans bank's 2017 collapse, a federal judge recently wrote in a decision on a related matter. ... Read full article

Employees saw the bank’s cybersecurity unit's shortcomings; the state seeking records related to hidden profits from the family's opioid business. ... Read full article

Gregory St. Angelo was part of a loan and tax credits scheme with other senior executives that funneled him more than $50 million, federal prosecutors said. ... Read full article

The Enloe State Bank in Texas becomes the first bank to fail in 17 months; BB&T dangles promise of bonus payments to top executives if they stay; where JPMorgan Chase’s Finn experiment went wrong; and more from this week’s most-read stories. ... Read full article

Someone reportedly was burning paper at the Texas bank on a recent Saturday night, and a state regulator cited "insider fraud and abuse" after Enloe was closed. ... Read full article

Regulators closed The Enloe State Bank in Texas late Friday, marking the first failure in 17 months and the first in the Lone Star State in over five years. ... Read full article