Jeff For Banks

DECEMBER 10, 2024

The FDIC designated SVB as systemically important. They were under an FDIC consent order from 2014 through 2020 relating to their BSA and OFAC compliance and their relationship with third parties seeking access to the banking system. First Citizens Bank was founded in North Carolina in 1898 as the Bank of Smithfield.

Las Vegas 70

Las Vegas Lending Community Bank North Carolina 70

Jeff For Banks

DECEMBER 10, 2023

Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important. First Citizens Bank was founded in North Carolina in 1898 as the Bank of Smithfield.

Fresno 101

Fresno North Carolina Raleigh FDIC 101

CFPB Monitor

SEPTEMBER 10, 2020

The DBO indicated that it “is investigating whether LoanMart’s role in the arrangement is so extensive as to require compliance with California’s lending laws. Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision. The FDIC has not yet proposed a similar rule.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

MARCH 15, 2022

Given such continuing threats, non-bank participants would be well-advised to revisit their vulnerability to “true lender” challenges and their compliance with state licensing laws. Maryland, New York, North Carolina, Ohio, Pennsylvania, West Virginia, and Colorado. The DFPI is not alone in asserting a “true lender” claim.

California 78

California Innovation Utah West Virginia 78