Lending Archives - Compliancex

FDIC alleges Cross River engaged in ‘unsafe’ lending practices

Jack J. Kelly Bank Failure, Banks, Cryptocurrency, FinTech, Lending May 8, 2023

The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank – known for its services to fintech and crypto firms like Visa (NYSE:V) and Coinbase (NASDAQ:COIN) – to “self-correct” and appropriately address weaknesses in its lending activities. On April 28, the FDIC made ...Read More

0 Comment

Crypto firms Genesis and Gemini charged by SEC with selling unregistered securities

Jack J. Kelly Cryptocurrency, Lending, Securities, Securities and Exchange Commission January 13, 2023

The Securities and Exchange Commission on Thursday charged crypto firms Genesis and Gemini with allegedly selling unregistered securities in connection with a high-yield product offered to depositors. Gemini, a crypto exchange, and Genesis, a crypto lender, partnered in February 2021 on a Gemini product called Earn, which touted ...Read More

0 Comment

FTX fiasco puts crypto back into regulators’ crosshairs

admin Assets, Bailout, Cryptocurrency, Lending, Market Manipulation, Regulators, Securities and Exchange Commission, Trading November 11, 2022

As Binance walks away from bailing out rival crypto exchange FTX, the rapidly unfolding saga is putting crypto on U.S. regulators’ radars yet again. “It does not matter that these are global exchanges. It feeds the narrative that crypto companies are taking excessive risks ...Read More

0 Comment