Regulators vs. banks

In this weekend's edition of Bank Vault, we're looking at banking regulators' latest sallies against banking-as-a-service, bank tech, risk management, and other problems in the banks they supervise.

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OCC says Blue Ridge in 'troubled condition' over BaaS: Virginia-based Blue Ridge Bank is one of three that have been publicly admonished by regulators this week due to problems related to their banking-as-a-service programs.

Fight between OCC and upside-down Texas bank boils over: Industry Bancshares' bond portfolio is massively underwater, and one of its regulators says the company is in "troubled condition." But Industry says it was already working on fixes prior to the OCC's intervention, which it calls an "unfortunate example of regulatory overreach."

FDIC's unusual order against tiny Utah bank: Sell yourself or liquidate. One of the smallest banks in the country hasn't consistently made a profit since 2007 and has been the subject of enforcement actions. The Federal Deposit Insurance Corporation (FDIC) 's public rebuke against it indicates a last-ditch effort to figure out a less messy solution than receivership.

FDIC action against Tennessee bank emphasizes tech: Brighton Bank (Brighton, TN) entered a consent agreement with the regulator regarding violations of anti-money-laundering laws.

These are the 5 CFPB rules to watch in 2024: The Consumer Financial Protection Bureau will take a bite out of bank profits in 2024 by issuing final rules on overdraft and credit card late fees, among other major rulemakings.

Are you an innovator in the banking or fintech space, or do you know someone who is? American Banker has begun accepting nominations for our 2024 Innovators of the Year award. Click here to learn?how to apply ?on your own behalf or on someone else’s. Winners will be honored at the?Digital Banking Conference , June 24-25 in Boca Raton.