FDIC alleges Cross River engaged in ‘unsafe’ lending practices By Cointelegraph
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The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank — known for its services to fintech and crypto firms like Visa (NYSE:) and Coinbase (NASDAQ:) — to “self-correct” and appropriately address weaknesses in its lending activities.
On April 28, the FDIC made public a consent order executed with Cross River Bank on March 8, which alleged that the bank engaged in “unsafe” or “unsound” banking practices regarding its compliance with applicable fair lending laws and regulations in 2021.
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The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank — known for its services to fintech and crypto firms like Visa (NYSE:) and Coinbase (NASDAQ:) — to “self-correct” and appropriately address weaknesses in its lending activities.
On April 28, the FDIC made public a consent order executed with Cross River Bank on March 8, which alleged that the bank engaged in “unsafe” or “unsound” banking practices regarding its compliance with applicable fair lending laws and regulations in 2021.
Continue Reading on Coin Telegraph
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