- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-03-24T20:34:00
The Federal Reserve Board further expounded on the risk management deficiencies it found at Custodia Bank as part of the digital-first bank’s application to become a member of the Federal Reserve System.
In its decision published Friday, the Fed said its review of Custodia’s application found “significant deficiencies” in the bank’s “risk management and controls for its core banking activities.”
The Fed previously announced its denial of Custodia’s application in January, ruling at the time the bank’s proposed activities would be “highly likely to be inconsistent with safe and sound banking practices.” Custodia is a state-registered bank in Wyoming.
2023-03-23T00:21:00Z By Adrianne Appel
The stunning, rapid collapse of Silicon Valley Bank, fueled in its final days by droves of panicked depositors seeking funds, likely added to the chaos within the bank and ratcheted up the risk of fraud, according to legal experts.
2023-03-17T15:57:00Z By Aaron Nicodemus
Small and mid-sized banks can expect more regulatory scrutiny in the aftermath of the collapses of Silicon Valley Bank and Signature Bank, according to legal experts. The time to prepare is now.
2023-01-27T20:57:00Z By Aaron Nicodemus
The Federal Reserve Board denied the application of Custodia Bank for membership in the Federal Reserve System, citing weaknesses in the digital-first bank’s anti-money laundering protocols as part of its decision.
2025-06-26T15:37:00Z By Aaron Nicodemus
Bank examiners at the Federal Reserve Board will no longer assess reputational risk during examinations, a concession to the banking industry already underway with two other U.S. regulators.
2025-05-29T16:07:00Z By Aaron Nicodemus
Corporate governance is, all too often, handed down from generation to generation. Like a well-worn jacket, it works great—until it doesn’t. Typically, it is a crisis that forces companies to reassess their corporate governance framework, as gaps are filled and poor policies rewritten. But it doesn’t have to be that ...
2025-03-10T20:56:00Z By Adrianne Appel
The public reported a 25 percent increase in losses–totaling more than $12.5 billion in 2024–to investment scams, tech rip-offs, and general fraud, according to an analysis by the Federal Trade Commission.
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