The Federal Deposit Insurance coverage Company (FDIC) has requested Cross River Financial institution – recognized for its providers to fintech and crypto corporations like Visa (NYSE:) and Coinbase (NASDAQ:) – to “self-correct” and treatment appropriately to the weaknesses of its lending actions. .
On April 28, the FDIC launched a consent order executed with Cross River Financial institution on March 8, which alleged that the financial institution engaged in “unsafe” or “unsound” banking practices with respect to its compliance with relevant honest lending legal guidelines and rules in 2021.
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