Klaros Group

Sep 10, 2024 | americanbanker.com | Brian Graham |Klaros Group

In late July, on a party-line vote, the Federal Deposit Insurance Corp. proposed to expand the definition of a "brokered deposit," reversing (and then some) a narrower definition also adopted by party-line vote during the previous administration.

May 2, 2024 | americanbanker.com | Brian Graham |Klaros Group

On Friday April 26, the FDIC closed Republic First Bank in a failure estimated to cost the deposit insurance fund $667 million. Like other recent failed banks, Republic First's official regulatory capital levels appeared to be in solid shape right up to its collapse.

Mar 28, 2024 | thefinancialbrand.com | Adam Shapiro |Klaros Group

A steady stream of enforcement actions continues to flow through the banking as a service and embedded banking space. How can this risk be contained so institutions and nonbank partners can bring innovative services to customers? Banks must take a more active role in compliance by digging into customer and transaction data, no longer assuming that their partner has a good handle on anti-money-laundering and Bank Secrecy Act compliance and other regulatory duties.

Dec 19, 2023 | americanbanker.com | Michele Alt |Klaros Group

Why would a coalition of state attorneys general urge the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau to ensure that national banks cooperate with the AGs' investigations into violations of state laws? Because, notwithstanding their invocations of Supreme Court precedent and the Dodd-Frank Act, they don't have the authority to conduct such investigations themselves. The agencies should disregard the AGs' request.

Mar 28, 2023 | americanbanker.com | Michele Alt |Klaros Group

In the wake of the recent bank failures, and the accompanying news that executives at these institutions recently paid themselves hefty bonuses, the Biden administration is calling for legislation authorizing the Federal Deposit Insurance Corp. to claw back executive payouts when a bank fails. Not a bad idea, but fortunately many large banks already have strong clawback measures in place. What's missing are regulations making those measures mandatory and applicable to all banks.