FDIC Enforcement Actions
Enforcement Actions – The FDIC released nine Stipulated Orders and Written Agreements in January. Included in the claims were manipulating overdrafts which caused the bank to file false or misleading Call Reports, FDPA violations, falsified timecards, misuse of funds, submitting false loan applicant information, and misappropriation of customer funds.
Crypto-Asset Market Vulnerabilities – The FDIC, OCC, and Federal Reserve issued a joint statement highlighting liquidity risks to banking organizations associated with certain sources of funding from crypto-asset-related entities and some effective practices to manage those risks.
Recent events in the crypto-asset sector have underscored the potential heightened liquidity risks presented by certain sources of funding from crypto-asset-related entities. The joint statement highlights key liquidity risks and some effective practices to monitor and appropriately manage those risks. The statement reminds banking organizations to apply existing risk management principles; it does not create new risk management principles.
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