Christopher Delporte

2 months ago | bankingjournal.aba.com | Christopher Delporte

FDIC in-house proceedingsBurgess v. Federal Deposit Insurance CorporationDate: Jan. 22, 2025Issue: Whether the Federal Deposit Insurance Corporation (FDIC) civil enforcement proceedings violate the Seventh Amendment’s constitutional right to a jury trial.

2 months ago | bankingjournal.aba.com | Christopher Delporte

Fidelity settlementIn Re: Fidelity Brokerage Services LLCDate: Jan. 8, 2025Issue: Fidelity Brokerage Services LLC’s consent order with the Financial Industry Regulatory Authority (FINRA) related to an ex-employee’s alleged theft. Case Summary: Fidelity Brokerage Services LLC agreed to pay $600,000 to settle allegations that it lacked an adequate supervisory system from 2012 to 2020, which allowed a former employee to steal $750,000 from customer accounts.

2 months ago | bankingjournal.aba.com | Christopher Delporte

By Christopher DelporteGilded Age industrialist and philanthropist John D. Rockefeller said: “The only question with wealth is, what do you do with it?” It’s a question that has stood the test of time, but the answer certainly has evolved. TOOLKIT > Register now for the ABA Wealth Management and Trust Conference, February 24-26 in San Diego. More information available at aba.com/WMTC.

Sep 23, 2024 | bankingjournal.aba.com | Christopher Delporte

By Christopher DelporteA fintech startup has created what it claims is the first online bank-to-bank marketplace designed to help financial institutions mitigate asset risk. The goal of the Miami-based firm — Capstack Technologies — is to create a national platform to sell or buy loans and deposits, giving small and regional banks access to national resources, helping them to mitigate asset risk related to being tied to local and regional resources.

Jul 3, 2024 | bankingjournal.aba.com | Christopher Delporte

The OCC last week proposed revising its guidelines establishing standards for recovery planning by certain large insured national banks, federal savings associations, and federal branches. The OCC said the proposal would not apply to supervised institutions with less than $100 billion in average total consolidated assets. Comments are due Aug. 2.